Privately-owned Australasian steel products distributor Vulcan Steel made its maiden pitch to Australian fund managers on Monday, touting its big footprint, 25-year track record of profitable growth and cash conversion.
Vulcan Steel, which is lining up for a $1 billion-plus float on the ASX and NZX, told funds it was making more than $NZ700 million a year revenue ($662 million), $NZ100 million ($94.6 million) EBITDA and 90 per cent cash conversion.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
