Maestro,
I appreciate your response and thoughts. That said, I don't agree with some of your continued comments, most not supported by actual public filings.
First and foremost, they are paying for the acquisitions, they are not getting any of them for free. They are buying them at very low multiples which makes them almost immediately accretive.
Surely you know that this is a highly fragmented space with many smaller players. The space is ripe for consolidation. You're essentially unlocking value in greater scale since SilverSun get's much better pricing than the smaller players due to higher sales volumes. I believe they are the largest reseller of Sage or very close to it.
As you also know, public companies generally receive a much higher valuation multiple than private companies. That is the entire premise of a roll up strategy and one that has been successfully executed by many other companies in equally fragmented spaces.
As for your comment something HUGE is coming. I never said that and don't believe that to be the case. Simple continued execution is all that is required, the financials speak for themselves. They just need to continue to execute.
As noted before, the avg. company in the space trades at almost 3X revenues which makes SilverSun undervalued in relation. I believe some of the comps aren't even profitable.
Thanks again for the exchange.
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