At the 2025 Value Investing Seminar, Thomas Goetsch, an Associate at Hoop Capital detailed an opportunity in an Italian small-cap stock. an activist value investing opportunity. He described how investors could unlock significant shareholder value in an overlooked, asset-rich public company.
Also see 2025 Sohn Hong Kong Conference [100 Page PDF Report]
Thomas Goetsch is an an Associate at Hoop Capital and as a Board Member of Hoop Club (Hoop Club is the firm, and Hoop Capital is an investment fund), dedicated to activist and value-driven club deals in public markets. His expertise spans special situations and the development of new investment initiatives in the DACH region, notably for a luxury furniture brand. Before joining Hoop Capital, Goetsch gained experience working at a Luxembourg-based firm and focusing on Italian small-cap companies.
Also our coverage of the 2025 Ben Graham Conference, 2025 Morningstar Investment Conference and the Best Alternative Investment Fund Conferences for 2025.
2025 Value Investing Seminar - Hoop Capital's Thomas Goetsch
Identifying the Hidden Opportunity
The investment thesis centered on a historic tour operator, founded in 1931 and listed since 1998, renowned for offering all-inclusive holidays. Despite its long history, the company maintained a conspicuously low profile in the market, eschewing investor calls or presence at capital market events. Control rested primarily with a majority shareholder—a family patriarch—and his daughter, who held a 55% stake. From a superficial, top-down financial perspective, the company didn't appear particularly attractive, showing a healthy free cash flow of 3.5 million euros but otherwise uninspiring margins. The stock had plummeted post-2008 and remained at a low point for years.
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
