Entech Case Study
Entech has completed a recapitalization partnership with Prospect Partners. The ...
Entech has completed a recapitalization partnership with Prospect Partners. The ...
The FOCUS Carrier-Focused Telecom Technology Index (CFTTI) gained 4.8% in the past three months. This com-fortably exceeded both the 3.2% gain in the S&P 500 and the 3.0% decline in the NASDAQ. Even with this period’s gain, the CFTTI is still down 11.9% year-over-year. This performance was slightly worse than the 10.7% decline in the S&P 500 over this same time period, but much better than the 26.2% loss in the NASDAQ. Sector multiples are lower than they were a year ago, but not by a wide margin. The CFTTI revenue multiple dipped from 2.5x to 2.3x, while the EBITDA multiple fell from 12.0x to 11.4x.
While its decline slowed somewhat this period, the FOCUS Enterprise-Focused Telecom Technology Index (EFTTI) continued its downward slide with a loss of 3.1% in the past three months.
Hess Broadband, Inc. (“Hess”), a provider of fiber optic splicing and specialty construction services in the greater Philadelphia area, has been acquired by TriStruX, LLC (“TriStruX”), a portfolio company of Huron Capital. FOCUS advised Hess in this transaction. This case study highlights the unique process of this transaction.
Golden Tech, a Valparaiso, Indiana-based IT managed services provider, has been acquired by Kian Capital-backed The Purple Guys. FOCUS advised Golden Tech in this transaction. This case study highlights the unique process of this transaction.
Things went from bad to worse for the FOCUS Communications Service Provider Index (CSPI) this period as the sector plummeted 25.6%. This decline was significantly steeper than both the 5.3% decline in the S&P 500 and the 4.1% decline in the NASDAQ over the corresponding time period. The situation is also bleak for the full year period with the sector down slightly more than 45% over the past 12 months. Once again, this drastically underperformed the returns in the S&P 500 (down 16.8%) and the NASDAQ (down 26.8%). Sector multiples continued to fall, ending the period at 2.1x revenue and 6.0x EBITDA. This compares unfavorably to year-ago multiples of 2.9x revenue and 8.2x EBITDA.
The FOCUS Telecom Business Services Index (TBSI) suffered a negative return for the second straight reporting period with a 4.1% decline. While disappointing, the sector still managed to outperform the 5.3% decline in the S&P 500 and stay even with the 4.1% drop in the NASDAQ. The situation is similar for the full year period. While the sub sector is down 16.1% over the past 12 months, it still outperformed the S&P 500 (down 16.8%) and the NASDAQ (down 26.8%). Sector multiples closed out the period at 0.8x revenue and 9.7x EBITDA. Both of these are lower than year-ago multiples of 1.0x revenue and 10.4x EBITDA.
The FOCUS Carrier-Focused Telecom Technology Index (CFTTI) held steady over the past three months, neither gaining nor losing value.
Established agriculture and technology companies are bringing innovative products and services to the agriculture arena--this emerging industry is called precision agriculture. This expanded edition of this Special Market Report includes the following: Introduction; Advanced Technologies, Sustainability - Driving Investments and New Sebsections, Public Companies, Private Company Key Players, and Partnerships.
Public Markets Continuing its downward slide, the FOCUS Enterprise-Focused Telecom ...