Updates

IG Design - Transformational US acquisition

September 2018

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

A superb looking acquisition explains the recent unexplained strength of the shares. IG has acquired Impact Innovations, a leading supplier of gift packaging and seasonal décor products in the US, for a total consideration of £56.5m on a cash and debt free basis - representing just 4.9x EBITDA. To pay for the deal, IG has also announced a placing of 12.8m shares to raise £65.4m before costs at 510p, so almost zero discount to the prevailing price.For 2017, Impact recorded EBITDA of US$15m on sales of US$155.9m and one broker says it has delivered an “almost perpetuity like performance.” Walmart is a key customer with whom Impact has enjoyed a +25 year relationship. The deal doubles the scale of IG&rsq ...

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City Pub Group

SSP Group

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IG Design (May 2019)

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IG Design (May 2018)

IG Design (February 2018)

IG Design - Doubles share of Australian value card market (November 2017)

IG Design - Design led creative play boosts sales (August 2017)

IG Design - To exceed market forecasts (April 2017)

IG Design - 20% growth even without acquisitions (January 2017)

IG Design (October 2016)

IG Design Group - Buys Lang on a multiple of 4 to add scale in the (biggest) US market (August 2016)

International Greetings (May 2016)

International Greetings - "Everything but the cake" (January 2016)

International Greetings (May 2015)

International Greetings - Growth resumes (August 2014)

International Greetings (January 2012)

International Greetings (December 2011)

International Greetings (September 2011)

International Greetings (June 2011)

International Greetings - Earnings forecast to double this year (February 2011)

International Greetings - Prospective PE of 6 for year starting 1 April (January 2011)

International Greetings - Sales of every day cards rise (November 2010)

International Greetings - Refocuses on budget end of the greeting products market (August 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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