MelloMonday, 26th February 2024, 5pm - 8.00pm
Programme
5:00pm Market overview from ‘Queen of Tech’, Vin Murria
5:10pm Company presentation from AdvancedAdvT
5:40pm Damian Cannon explains the Zulu Principle
6:10pm Company presentation from React
6:40pm BASH Special with Damian Cannon (ADF) and Kevin Taylor (ALU)
Company Presentation – AdvancedAdvT (LON:ADVT)
The Group’s strategy is centred around backing sectors characterised by long term digitisation trends, that are in early stages of adoption and set to transform the workplace for professionals for the next few decades. Embracing a long-term perspective, the aim is to build a lasting and thriving business. This thinking shapes how investment is deployed in the business, the portfolio businesses and building relationships with clients and partners, with a strategy centred around consistency and continuous improvement.
On 31 July 2023, we completed the acquisition of four software businesses which operate across three fundamental areas: business solutions, compliance, and human capital management. Through these core specialisms, we deliver innovative software solutions and a platform that enables businesses and organisations to succeed in today’s dynamic landscape whilst providing an enabler for digital transformation. The Group aims to drive growth both organically and through further acquisitions. The acquisitions will provide a strong foundation to capitalise on the anticipated market growth, increasing digital transformation and AI trends, whilst also expanding its presence across a number of adjacent markets, geographic boundaries and digital sectors.
The management team boasts substantial experience in the software and services sector, having invested in and operated a range of high-performing businesses. The team have successfully driven operational excellence within these enterprises, leading to consistent organic growth. Moreover, it has a proven track record of targeted and accretive mergers and acquisitions in the software sector. This expertise, combined with the recent acquisition, positions the Company well to build a robust platform for future growth, both organically and through strategic acquisitions, in the rapidly evolving digital landscape.
Vinodka Murria, Executive Chairperson
Vin Murria OBE is an experienced executive and has operated and/or advised public companies for over 30 years. Vin was the founder and Chief Executive Officer of Advanced Computer Software from 2008 until 2015 and built the business organically and through acquisition from an initial cash shell to its $1.1bn to Vista Equity Partners, delivering shareholder return of almost 1,100 per cent. The business was named Tech Company of the Year (2014) having grown to be the 3rd largest UK headquartered software business. Prior to Advanced Computer Software, Vin was founder and Chief Executive Officer of Computer Software Group plc from 2002 until 2007, which included a merger with IRIS Software, and exit to Hellman and Friedman at a $800m million valuation. Prior to this Vin was the COO of Kewill Systems Plc (now known as BluJay Solutions which exited to a strategic for £1.8bn in 2020.).
Vin is also a non-executive director of FTSE 250 Softcat plc, a leading provider of technology solutions and services and FTSE 100 Bunzl plc, the international distribution and services group
Company Presentation – REACT (LON: REAT)
REACT Group plc is the UK’s leading specialist and contract cleaning business. A consistent business performer
A strong consistent performer year after year, with 87% contracted recurring revenue, an average organic growth rate of 24% per year over the last 4-years, converting 43% of its gross margin into £2.3m of operating profit for year ending 30th September 2023, which in-turn generated a free cashflow of £2.1m and an FCF yield of just over 14%.
REACT Group operates with three divisions: LaddersFree, one of the largest commercial window cleaning businesses in the UK; Fidelis Contract Services (“Fidelis”), a contract cleaning and facilities maintenance business; and REACT business, which primarily provides a solution to emergency and specialist cleaning situations, both through long-term framework agreements and on an ad-hoc basis
Spencer Dredge, Chief Financial Officer
Appointed January 2024, following a 5-month period working within the business on transformation projects. Spencer is a seasoned finance professional and a chartered management accountant with significant experience operating in mid-sized UK and global businesses
Shaun Doak, Chief Executive Officer
Appointed February 2020 having joined the group in March 2019 as Managing Director of REACT Specialist Cleaning with a proven track record of growing businesses in the specialist cleaning, facilities management and HVAC services sectors.
Mark Braund, Chairman
Appointed December 2020 having worked with the Group as its strategic & operational advisor throughout the turnaround period. Mark has a strong track record of leading teams through sustainable and profitable change and materially improving shareholder value. Mark has significant experience across a number of business sectors, both UK and overseas. He has been the CEO of two AIM listed businesses, the most recent being RedstoneConnect Plc., leading the team through a well-documented turnaround, the profitable sale of legacy assets and the development/carve-out of an exciting software technology business, now known as Smartspace Software Plc.
The Mello BASH (Buy, Avoid, Sell, Hold)
Damian Cannon Professional Investor
Mello regular and private investor, Damian Cannon digs deep into the filters used by the Zulu principle.
Damian is an experienced private investor who has tried almost every successful strategy, and many that weren’t, over the last 20 years. During that time, he has published deep-dive analysis of individual companies, blogged a monthly trading journal and established the StockSlam social investor event. He probably could have saved a lot of time by sticking with the Zulu Principle from the beginning but where’s the fun in that?
The Mello BASH (Buy, Avoid, Sell, Hold)
Damian Cannon Professional Investor
Kevin Taylor Private Investor
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