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"We believe Ridgeway to be a quality business that Marshall Motor Holdings (MMH) has acquired at an attractive price. The deal has been financed with existing debt facilities. We had underestimated the flexibility of the balance sheet, but note that the transaction has increased the leverage of the company, increasing the adjusted net debt/EBITDA to 1.6x (adj. net cash pretransaction) which is ahead of its peers. The latest data from the SMMT show a second consecutive monthly decline in private registrations, suggesting that..." Scraped this from ResearchTree, it's by Zeus this morning
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