Listed on the AUS stock exchange, KPG, US OTC ticker is KPGHF. They are effectively a serial acquirer of small and medium sized accounting firms, mostly in Australia. They buy them at 4-5x earnings, and use the cashflow plus debt issuance to buy more of them. Founder led by Brett Kelly, who controls around 40% of shares. The firm is very small clocking under 150m market cap USD, but FCF is low at 6x ratio. He is also being sued by recently departed COO, allegation harassment and intimidation. I've also seen the reason for stock price drop is due to selling pressure from margin calls from Brett Kelly himself selling. They also carry a lot of debt, roughly 75m, more than 2x annual FCF. Anyone buying this one? Thoughts on this company? It appears it may have reached a bottom and potential small position in a larger portfolio. The other thing about them is they don't really decentralize acquisitions, it all goes through Brett Kelly.