Hi there, I'm looking at a Canadian industrial maintenance company with < 1M EBITDA that plays in a space this is very recession proof. Further, my assessment is that when the Canadian dollar is weak, it drives up the price of the downstream commodities affected, which should increase production and hence maintenance work. When the Canadian dollar is weak, it should drive up capital purchase and thus more work with installations.

A few questions:
1) Is my assessment of the above hedge dynamics correct?
2) What's a fair multiple for a business like this?
3) The business is in growth mode and hence, there's a push to value it only on trailing twelve months. What's the group's take on that?