Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Bingo Industries (BIN AU): CPE/MIRA's Scavenger Hunt

Bingo Industries (BIN AU): Macquarie Cleans Up

Bingo Industries (BIN AU): Scheme Booklet Out. EGM Tabled

Bingo Industries IPO - Recycling Its Acquisitions

Quiddity Advisors

Event-Driven

<div>According to the AFR, a consortium led by Aussie PE outfit CPE Capital (previously
<div>known as CHAMP Private Equity) <span>has made a $2bn+ Offer for waste collections and recycling group </span><a href="https://www.smartkarma.com/entities/bingo-industries-ltd" target="_blank" data-smartkarma-citation="entities:24067:1" rel="noopener">Bingo Industries (BIN AU)</a><span>.</span>
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<div>CPE is no stranger to Bingo, having acquired its Banksmeadow processing facility in <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02150926-2A1175219?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">October 2019</a>, a divestment <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-02081134-2A1135804?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">required by the ACCC</a> after Bingo acquired Dial A Dump in February of that year.</div>
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<div>The key hurdle to a successful tilt is Bingo's current valuation - 15.9x EBITDA and 41x PER on a forward basis is not by any stretch, a cheap proposition.  </div>
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<div>More below the fold.</div>

According to the AFR, a consortium led by Aussie PE outfit CPE Capital (previously
known as CHAMP Private Equity) has made a $2bn+ Offer for waste collections and recycling group Bingo Industries (BIN AU).



CPE is no stranger to Bingo, having acquired its Banksmeadow processing facility in October 2019, a divestment required by the ACCC after Bingo acquired Dial A Dump in February of that year.


The key hurdle to a successful tilt is Bingo's current valuation - 15.9x EBITDA and 41x PER on a forward basis is not by any stretch, a cheap proposition.  


More below the fold.

Bingo Industries (ASX: BIN): Talking Trash