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BLA blue sky alternative investments limited

4.84%

$3.25

Your correct in the 33% holding, and I think the valuation could...

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capricciosa

11 Posts.

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19/04/18

12:01

Post #: 32553886
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Originally posted by Warnie ↑

My research suggests Blue Sky Private Equity Limited as responsible entity holds 33% of Beach Burrito.
This was setup in 2012 with a $3.1m raise.

https://www.investsmart.com.au/managed-funds/fund/blue-sky-beach-burrito-company/41444

The remaining 67% is owned by entity Sowerby, Reed and Watson and was done so back in 2006 for a mere $150,000.

That 67% portion is NOT a Blue Sky Fund held so should NOT be AUM recognised nor fee producing for BLA on that %?

This would suggest a business making $2m EBITA (not verified) has a business valuation of some $60m+, for BLA portion to be valued at $20m? It's just not correct.

My best guess on such EBITA valuation is circa $12- 15m as a going concern, putting BLA's AUM (fee producing) holding at $4.95m equivalent, not $20m nor $62m?

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Your correct in the 33% holding, and I think the valuation could be even lower than the 6-7x EBITDA range. I'd doubt the Bondi store would be worth more than 2x. And for the other stores, retail food is highly competitive and their product is average.

BLA Price at posting: $3.55 Sentiment: None Disclosure: Not Held
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0 Great analysis

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Your correct in the 33% holding, and I think the valuation could...

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