IPF Acquisition Commentary

22 days ago

Kloe Mele

"Yeah, so M&A doesn't really stop for Christmas. So, we had some bankers working over the last week. Um, the US-based uh direct lending company Base Point Capital uh has announced that it is acquiring IPF uh this morning. So, IPF is uh a consumer loan provider and it operates primarily in Eastern Europe and in Mexico. Um and the deal is valuing the company at 400 no sorry543 million. Um so this follows a courtship over the last few months. We had an initial approach in July, another in September, and then in November, Baspoint added a dividend payment to its proposal. And so that seemed to have sweetened the deal enough that IPF accepted. Um, and investors seem quite happy with the IPF's future as part of Base Point, and we have got those shares up quite strongly [music] this morning on the back of of that late December."

Kloe Mele outlines the acquisition of IPF by Base Point Capital, highlighting the extended courtship process including multiple approaches and the addition of a dividend payment that swayed IPF into accepting the deal. The commentary notes that investor sentiment is positive, as evidenced by the strong movement in the shares this morning.