Added to YB: 2024-09-30
Pitch date: 2024-09-28
TSE [neutral]
Trinseo PLC
-88.22%
current return
Author Info
Pari Passu is a Private Equity investor at a major hedge fund who writes about anything they find interesting in investing. Sign up for the newsletter.
Company Info
Trinseo PLC provides specialty material solutions in the United States, Europe, the Asia-Pacific, and internationally.
Market Cap
$35.1M
Pitch Price
$5.37
Price Target
N/A
Dividend
N/A
EV/EBITDA
16.33
P/E
-0.08
EV/Sales
0.80
Sector
Chemicals
Category
turnaround
Trinseo, a Double Dip 'Pari-Plus' Case Study
TSE (double-dip restructuring): Specialty materials co. executed pari-plus double-dip restructuring. $1.077B new loan, asset dropdown of Americas Styrenics JV. Extended runway to 2028, but still faces liquidity challenges. Q2'24: $68M net loss, $67M adj. EBITDA, -$56M FCF. Pursuing JV sale in 2025. Future hinges on cost reduction and FCF improvement.
Read full article (14 min)