We believe the announcement from Proactis that it is buying Millstream highlights the attractiveness of EU Supply. Proactis has agreed to pay a consideration of £15.5m for Millstream on a cash-free/debt-free basis. This implies an EV/sales multiple of 3.2x the £4.9m revenue Millstream reported for the year to June 2016. Given that EU Supply is growing revenues much more quickly than Millstream, and has the potential to win some significant new clients in the coming year, our 15p t
10 Nov 2016
Positive readacross from Millstream
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Positive readacross from Millstream
EU Supply (EUSP:LON) | 0 0 (-6.0%) | Mkt Cap: 8.50m
- Published:
10 Nov 2016 -
Author:
Robert Sanders -
Pages:
2
We believe the announcement from Proactis that it is buying Millstream highlights the attractiveness of EU Supply. Proactis has agreed to pay a consideration of £15.5m for Millstream on a cash-free/debt-free basis. This implies an EV/sales multiple of 3.2x the £4.9m revenue Millstream reported for the year to June 2016. Given that EU Supply is growing revenues much more quickly than Millstream, and has the potential to win some significant new clients in the coming year, our 15p t