Environmental Solutions Worldwide (ESWW) Flying Under Market’s Radar, But Not Apollo’s

February 14, 2015 • Analysis, Featured Premium Research, Free • Tags: , ,

This report was written by Anthony Thorpe, who is LONG ESWW.
Questions? Feel free to reach Anthony by email: athorpe624@gmail.com
Summary:

Environmental Solutions Worldwide (ESWW) is in the business of designing, manufacturing, and selling diesel emission control products primarily for the medium and heavy duty diesel engine market (MHDD). The company also provides engine emissions testing.

Equity is ~37% owned by shareholder-aligned board members and executive management, including Apollo Global Management (APO) CEO Leon D. Black’s Family Trust which owns ~23% (up from ~15% in 2010).

Using a conservative 10x multiple on just the first nine months of free cash flow of 2014 implies upside of 100%, however when one thinks about the opportunity of the industry and t...

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