IPD Group Limited (ASX: IPG) has announced its acquisition of CMI Operations Pty Ltd from Excelsior Capital Limited (ASX: ECL) for a substantial AU$101 million. The deal includes an upfront payment of AU$92.1 million, subject to customary adjustments, and a contingent payment of up to AU$8.9 million. To fund this acquisition, IPD will utilize a fully underwritten Equity Raising and new debt facilities, with a significant AU$65 million comprising a AU$40 million institutional placement and a AU$25 million accelerated non-renounceable entitlement offer ("ANREO").
CMI Operations Pty Ltd, a leading distributor of electrical cables and plug brands in Australia, strategically expands IPD's product suite and strengthens its value proposition. The acquisition is expected to result in over 30% pro forma FY23A EPS accretion (excluding synergies), and IPD has provided a H1 FY24 EBIT guidance ranging from AU$13.5 million to AU$14.0 million, signaling robust growth prospects.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 20, 2024
Nov 20, 2024
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
