Rimmy Malhotra of Nicoya Capital presented his in-depth investment thesis on Concrete Pumping Holdings (US: BBCP) at Best Ideas 2020.

Thesis summary:

Concrete Pumping is the largest concrete pumping services provider in the US and UK. The company has excellent unit economics, an irreplaceable competitive position, and provides a critical service to customers.

The company is run by industry veterans, with insiders owning 60+% of the business. The company went public a year ago at $10 per share, traded to $15 per share, and was recently quoted at ~$5 per share. Rimmy believes that in the next three years the company will show earning power (without making heroic assumptions) to warrant a price of $15-20 per share.

The full session is available exclusively to members of MOI Global.

Members, log in below to access the full session.

Not a member?

Thank you for your interest.  Please note that MOI Global is closed to new members at this time. If you would like to join the waiting list, complete the following form:

About the instructor:

Rimmy Malhotra is Portfolio Manager at Nicoya Capital. The Nicoya Fund is an investment partnership with limited investing constraints. Coupled with a stable of very long-term oriented partners we invest in a concentrated and deliberate fashion across a wide variety of industries, and company sizes. Currently, Rimmy serves on the board of Command Center International (ticker: CCNI), and previously served on the board of Peerless Systems. Rimmy served for three years as a United States Peace Corps Volunteer in Central America. He earned an MBA in Finance from The Wharton School and a master’s degree in International Affairs from The School of Arts & Sciences at the University of Pennsylvania where he is a Lauder Fellow. Mr. Malhotra holds undergraduate degrees in Computer Science and Economics from Johns Hopkins University.