Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

<p>Renewi was formed upon the completion of the merger between Shanks and Van Gansewinkel (VGG) in February 2017. The new company is well placed strategically with its &lsquo;waste-to-products&rsquo; strategy capitalising on the trend towards a circular economy and, in the short term, its shareholders should benefit from a recovery in its core Dutch waste market and from the &euro;40m in expected cost synergies We forecast underlying three year EBITDA CAGR of 10.9% the bulk of which is driven by merger synergies and note the attraction of the 3.9% dividend yield. Our fair value per share of 102p offers 27.5% upside to current levels.</p>

Renewi was formed upon the completion of the merger between Shanks and Van Gansewinkel (VGG) in February 2017. The new company is well placed strategically with its &lsquo;waste-to-products&rsquo; strategy capitalising on the trend towards a circular economy and, in the short term, its shareholders should benefit from a recovery in its core Dutch waste market and from the &euro;40m in expected cost synergies We forecast underlying three year EBITDA CAGR of 10.9% the bulk of which is driven by merger synergies and note the attraction of the 3.9% dividend yield. Our fair value per share of 102p offers 27.5% upside to current levels.

United Kingdom

Shanks Group plc provides integrated waste management and disposal services. The Company specializes in the landfill, haulage, collection, incineration, and treatment of waste.  The Group's other activities include contaminated land remediation services, green waste composting, and recycling programs.  Shanks operates in Belgium, Holland, and the United Kingdom.

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Renewi PLC (RWI LN)

Growth catalysts in place

Renewi was formed upon the completion of the merger between Shanks and Van Gansewinkel (VGG) in February 2017. The new company is well placed...

Edison Investment Research

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