I bought shares in CYG a year or two ago when they showed signs...

I bought shares in CYG a year or two ago when they showed signs of a strong turnaround strategy and implementation.
I sold a few months ago where they seemed to focus increasingly on acquisitions with one in particular being a misfit in my eyes, and this announcement reinforces that with the statement "strong pipeline of acquisition opportunities"
Nothing wrong with acquisitions, as long as they are focussed and make sense relative to the existing business, but I see in the latest acquisition of Goudie that they're not focussed enough.
Sure, temporary fences are a form of "trade distribution" , but to me they are more a construction /tradie subcontractor service, far different from the existing more technically oriented / branded wide product range / off the shelf in specific niche markets distribution that they are.
I have no doubt GHD is a good and successful business...but better for a private SME than a corporate. It's down the road from me in Auckland and you can tell from its tradie subby neighbour environment the sort of business it is. (and from the attributes of their install staff who I see calling into the local award winning pie shop)

Yet, in announcing it, CYG state that it gets a tick for " excellent fit" as part of their investment criteria.
I call bollocks on that, and if that's the level of fit that's ok, then CYG is headed for trouble.