Automotive Solutions Group is raising $25m and will acquire a number of businesses specialising in 4x4/SUV market.
The market in Aust is $4B and ARB holds around 7% market share.
Looking at listing it in December at FY17 PE10.5X which is much lower than is peers.
Currently ARB at 26X, Bapcor 23X, AMA 21X.
Principals were involved in listing Greencross (GXL) in 2007 and National Veterinary Care (NVL) last year.
NVL has gained over 100% since listing.
This looks like a good IPO, with a reasonable valuation with proven management and in a market that has excellent growth potential.
