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Recent troubles at the AA (AA.) and Petropavlovsk (POG) brought to mind another problematic investment that I am more familiar with and which shares some characteristics of those companies. That investment is Gulf Marine Services (GMS).
IPOs by Private Equity Vendors
Like the AA, GMS was floated by its original private equity owners, with a premium listing on the LSE main market, in March 2014. GMS is a relatively straightforward business: ...