OPINION: There’s no time to test a big list of suitors for their best price and terms. Allegro Funds is the first responder, best placed to put out the flames.
When a fire is burning out of control, there’s no time to pick and choose the best-placed fire engine to extinguish it. The nearest one is called.
Sydney-based Allegro is confident in complex situations and likes carving businesses out of larger entities. It invests only when it thinks it can make three times its money or more within three to five years, and typically goes after businesses with at least $100 million in revenue. Loader has previously revealed a few red flags he looks for when making new investments. Two of them are particularly relevant to the Project Bell spin-off: do its customers hate it, and are there enough customers?At first reading, PwC is deeply in the bad books of its customers, the government, and public sector departments. But Loader reckons there is a difference between being hated and just having a frustrated customer that wants the business to do better in the future.
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