Is it worth punting on Baby Bunting?

The word is out: don’t buy from private equity. That lesson has been learnt after years of poor deals which saw private equity firms dress up sales and cost figures, add lashings of debt and cut expenditures.The aim is always to present the business at its best and, especially, to make it look like it consumes less cash than it really does. This has been the formula for so many disastrous private equity offerings: Myer (ASX: MYR), Pacific Brands (ASX: PBG), Boart Longyear (ASX: BLY) and Calibre (ASX: CGH) all come to mind as classic private equity plays that have worked for the seller but not for...

The word is out: don’t buy from private equity. That lesson has been learnt after years of poor deals which saw private equity firms dress up sales and cost figures, add lashings of debt and cut expenditures.

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