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Engine Capital

26 documents across the library, active from 2022 to 2025.

26 Documents
3.3 Avg. narrative
1.7 Avg. visual

Activity by year

22 2
23 2
24 15
25 5

All documents

Engine Capital Dec 01, 2025

UniFirst Corporation UNF

Engine urges UniFirst's independent directors to form a special committee and force a sale — the Croatti family's rejection of four Cintas bids has already cost shareholders ~$1.3B.

N4 V2 C2
⌂ ⚑
Engine Capital Nov 25, 2025

UniFirst Corporation UNF

UniFirst is stagnating under Croatti trustee stewardship that rejected a premium Cintas bid; Engine demands a sale, board refresh, and fair proxy process to unlock value.

N4 V1 C1
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Engine Capital Aug 11, 2025

Avantor, Inc. AVTR

Avantor's board has presided over five years of self-inflicted operational and capital-allocation failures; a refreshed board, cost discipline, buybacks and portfolio optimization can deliver 97-134% upside by 2027.

N4 V3 C3
⌂ ◫ ” ⇌ ⚑
Engine Capital May 09, 2025

Lyft, Inc. LYFT

Board has committed to significant share repurchases

N1 V1 C1
Engine Capital Jan 17, 2025

Smiths Group plc SMIN

Smiths' four-segment conglomerate structure masks a ~50-60% SOTP discount; the Board should launch a strategic review to sell the company or spin John Crane into a U.S. listing.

N4 V2 C2
⌂ ◫ ”
Engine Capital Dec 17, 2024

Dye & Durham Limited DND

Engine Capital's six-member slate and OneMove's nominee will replace the entire Dye & Durham board after overwhelming shareholder support forced incumbent directors to resign.

N2 V1 C1
Engine Capital Dec 01, 2024

Dye & Durham Limited DND

Dye & Durham's Board and CEO Matt Proud destroyed value chasing a $1bn EBITDA target through reckless M&A; Engine's six-director slate and new CEO can triple the share price to $46 in three years.

N5 V4 C4
⌂ ” ⇌ ⚑
Engine Capital Nov 11, 2024

Dye & Durham Limited DND

Engine (7.1%) urges Dye & Durham shareholders to replace an entrenched board presiding over management exodus, regulatory investigations, and blocked deals with six independent nominees at the December 17 meeting.

N3 V1 C1
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Engine Capital Nov 01, 2024

Dye & Durham Limited DND

Engine, a 7.1% holder, nominates six directors to overhaul Dye & Durham's board, replace management, cut leverage to 3x, and close the valuation gap to ~20x EBITDA peers.

N2 V1 C1
Engine Capital Oct 16, 2024

Dye & Durham Limited DND

Engine, owning 7.1% of Dye & Durham, will run a board slate at the 2024 AGM, arguing a refreshed board can close the 8x-vs-18x EBITDA peer gap.

N2 V1 C1
Engine Capital Sep 25, 2024

Dye & Durham Limited DND

Engine urges Dye & Durham's board to hold its 2024 AGM in December per TSX rules, or face board changes over entrenchment, delay tactics, and CEO Proud's destructive M&A.

N2 V1 C1
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Engine Capital Sep 19, 2024

Dye & Durham Limited DND

Court dismissal of OneMove litigation removes any remaining excuse to delay the Special Meeting

N2 V2 C1
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Engine Capital Sep 13, 2024

Upwork Inc. UPWK

Engine argues Upwork is undervalued at ~6.5x EBITDA and that a refreshed board plus fixing the marketplace, focusing Enterprise, cutting bloat and aggressive buybacks unlocks substantial upside.

N4 V2 C1
⌂ ” ⚑
Engine Capital Sep 11, 2024

Dye & Durham Limited DND

Dye & Durham's board broke its no-M&A pledge, re-levered to 5.3x, and lost six executives; shareholders need a Special Meeting and board change to close the peer valuation gap.

N4 V2 C2
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Engine Capital Jul 30, 2024

C&C Group plc CCR

C&C has lagged peers by 81% since its 2019 LSE listing under four CEOs and a board owning 0.05%; electing Engine's two nominees brings M&A and capital-allocation expertise.

N3 V2 C1
⌂
Engine Capital May 18, 2024

Parkland Corporation PKI

Parkland's Board is entrenched and credibility-damaged; Engine (2.6% owner) demands an immediate strategic review with an investment bank to surface private-market value above the depressed public stock price.

N4 V1 C1
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Engine Capital May 07, 2024

Parkland Corporation PKI

Parkland's independent directors refuse to buy meaningful amounts of their own stock despite insisting the strategy will deliver value — that credibility gap demands each personally purchase at least 5,000 shares.

N4 V1 C1
” ⚑
Engine Capital Apr 25, 2024

Dye & Durham Limited DND

Engine wants Dye & Durham's board to abandon its arbitrary C$1bn EBITDA target, stop overpaying for acquisitions, and refocus on ROIC after 62% three-year shareholder losses.

N3 V2 C1
⌂
Engine Capital Apr 17, 2024

Parkland Corporation PKI

Parkland has failed on operations, capital allocation and governance; a strategic sale at 8-9x EBITDA would deliver ~$64/share, a 56% premium superior to the risky standalone plan.

N4 V2 C2
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Engine Capital Jan 22, 2024

Parkland Corporation PKI

Parkland's entrenched board has driven a decade of peer underperformance and a sector-low 6.9x multiple; a shareholder-led board refreshment is needed to close the valuation gap.

N4 V2 C2
⌂ ” ⚑
Engine Capital Apr 20, 2023

Parkland Corporation PKI

Parkland's board re-nominated its 24-year chairman and set sub-cost-of-capital ROIC targets; Engine urges shareholders to WITHHOLD on all incumbents to force governance, pay, and portfolio reform.

N3 V1 C1
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Engine Capital Mar 22, 2023

Parkland Corporation PKI

Parkland's conglomerate mix of retail, refinery and distribution trades at a 3-turn discount to Couche-Tard; spin the non-core assets and refresh the stale board to unlock ~$45/share, roughly 55% upside.

N4 V2 C1
⌂ ◫ ⚑
Engine Capital Mar 22, 2022

Houghton Mifflin Harcourt HMHC

Veritas' $21 tender for Houghton Mifflin Harcourt steals value at 7.6x UFCF; a self-funded Dutch tender and standalone plan could deliver roughly $42 per share by 2024.

N3 V1 C1
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Engine Capital Mar 22, 2022

Houghton Mifflin Harcourt HMHC

Veritas's $21/share buyout of Houghton Mifflin steals the company for 7.6x 2024 UFCF; reject it and execute a standalone Dutch tender recap to reach ~$42 by 2024.

N4 V3 C3
⌂ ◫ ⚑
Engine Capital —

Lyft LYFT

Lyft's entrenched, inexperienced board tolerates a dual-class structure, staggered seats and unoptimized balance sheet; replacing two directors unlocks governance reform and a $750mm ASR.

N3 V1 C1
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Engine Capital —

Parkland Corporation PKI

Parkland's board is running a sham strategic review to entrench itself; Engine demands a shareholder-driven board reconstitution before the 2025 Annual Meeting to unlock real value.

N3 V1 C1
” ⚑