Interesting movement, first website change in I think a decade at least....$5-$20 million EBITDA mention too, looking like it wants to stay a holding company and bring in some acquisitions. With only 3.36 million shares outstanding this is a great one to have. Of course I am sure some equity will be given as part of deal, but still if they get a company with $20 million in earnings this is in the multiple dollar range. If they can then organize a larger series of acquisitions this could turn into a great play.
The continuing connection to Gabelli based on both address and him being Chairman of the Board is a great sign. I wonder if his fund could pump some money into this as well as part of any post deal financing. And with Evans manufacturing pedigree and Crane Co. connection this is the right guy to put some money on.
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