new ipo added today
private equity bought it for $720m, and now offloading for $1.7 to $1.9bn, an increase of 150%.
basically they stripped out costs, thats how the profit went up. but such cost increase benefits aren't sustainable. revenue has been stagnant around 2.5-2.7bn for the past 5 years!
Debt is a whopping $600m+
one wonders how this company ever made it to IPO stage...
one has to be careful of private equity opportunists.