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re: How much would a company like Turner Industries be worth?
Posted on 7/3/23 at 8:28 pm to TigerBaron
Posted on 7/3/23 at 8:28 pm to TigerBaron
I’m more interested in how much SoChem is worth
1
Posted on 7/3/23 at 8:34 pm to TigerBaron
If I recall, they have 1-1.5 billion dollars annually of just regular maintenance contracts. Another billion in projects. Probably would sell for over 10 billion. They are a huge employer in Louisiana and have been steadily growing in Texas.
Posted on 7/3/23 at 8:47 pm to tylerlsu2008
quote:
Zero chance, that’s a 5x rev multiple. Assuming a ~15% margin profile, that’s 30+x EBITDA.
Don’t follow these types if companies, but I’d guess this is a 9-11x type of business.
So assuming 15% margin, $2B revenue, and a 10x multiple that would put them in the neighborhood of… $3B valuation?
So ballpark, call it a $2-4B company?
Although I wouldn’t be surprised if their actual margins were considerably lower than 15%. It’s a highly competitive business, and a large portion of their work is maintenance - i.e. reimbursable - which is generally very low margin business.
Also I have no idea if that $2B revenue number is accurate. Just going by what others have said ITT.
This post was edited on 7/3/23 at 8:48 pm
Posted on 7/3/23 at 8:51 pm to fallguy_1978
quote:
Shaw had an agreement to purchase Turner maybe 12-15 years ago but Turner backed out due to Shaw not agreeing to all of the conditions.
Was it per diem and a truck allowance?
Posted on 7/3/23 at 8:53 pm to DiamondDog
quote:
Was it per diem and a truck allowance?
They said their white two fiddys had to be gas and not diesel, deal breaker
Posted on 7/3/23 at 8:58 pm to TigerBaron
quote:
CB&I bought Shaw for $3 Billion in 2012
Quite possibly one of the worst financial decisions in the history of Louisiana business.
On a side note: remember all the insider trading that went on around that sale? Seems like I remember a Ruston dentist getting busted as well as a few others.
Posted on 7/3/23 at 9:00 pm to The Boat
quote:
Boat
Go check out the game thread on the rant
Last page
Posted on 7/3/23 at 10:24 pm to TigerBaron
quote:
CB&I bought Shaw for $3 Billion in 2012
Bernhard sold CB&I a lemon. Good for him I guess, getting out when he had over-leveraged and fricked everything up.
Posted on 7/3/23 at 10:58 pm to TigerBaron
I was working at CB&I in st charles not long after they merged. They had a huge shop and it was very nice. Nicer than the refineries for sure
Posted on 7/3/23 at 11:34 pm to TigerBaron
You post a lot of random Turner threads.
Posted on 7/4/23 at 4:52 am to James11111
That he did and CB&I is still paying for it.
Posted on 7/4/23 at 6:02 am to TigerBaron
quote:
How much would a company like Turner Industries be worth?
What someone else is willing to pay for it
Posted on 7/4/23 at 8:38 am to hubertcumberdale
Who owns Turner?
Posted on 7/4/23 at 9:11 am to James11111
quote:
Bernhard sold CB&I a lemon
Didn't he only have to sit on the sidelines for something like 6 months, and then went and created Epic Piping?
Posted on 7/4/23 at 3:15 pm to lostinbr
quote:
So ballpark, call it a $2-4B company?
That's what I was thinking
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