MPAC Group (MPAC)

Sector:

Engineering

Index:

FTSE AIM All-Share

455.00p
   
  • Change Today:
    -1.00p
  • 52 Week High: 467.50
  • 52 Week Low: 187.50
  • Currency: UK Pounds
  • Shares Issued: 20.47m
  • Volume: 37,266
  • Market Cap: £93.16m
  • RiskGrade: 248

Mpac acquires US packaging business Switchback

By Iain Gilbert

Date: Wednesday 09 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Packaging and automation solutions group Mpac said on Wednesday that had acquired US company Switchback in a deal worth as much as $15.0m.

Mpac will pay $13.0m in cash for Switchback, a supplier of packaging machinery and automation solutions to the food, beverage and healthcare markets, with a further earn-out consideration of $2.0m to be paid depending on performance.

The AIM-listed group highlighted that it would maintain "a strong balance sheet" following the transaction, with a net cash position and an undrawn £10.0m revolving credit facility.

Chief executive Tony Steels said: "The acquisition of Switchback represents another key stage in the strategic development of Mpac, providing a strong USA footprint, together with a great range of products, talented employees that have demonstrated entrepreneurial growth to become market leaders with embedded customer relationships.

"Switchback's performance during the Covid pandemic has been strong with a good order book, demonstrating the high quality of the business."

As of 0925 BST, Mpac shares were up 3.57% at 290.0p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MPAC Group Market Data

Currency UK Pounds
Share Price 455.00p
Change Today -1.00p
% Change -0.22 %
52 Week High 467.50
52 Week Low 187.50
Volume 37,266
Shares Issued 20.47m
Market Cap £93.16m
RiskGrade 248

MPAC Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
19.76% below the market average19.76% below the market average19.76% below the market average19.76% below the market average19.76% below the market average
11.76% above the sector average11.76% above the sector average11.76% above the sector average11.76% above the sector average11.76% above the sector average
Price Trend
79.77% above the market average79.77% above the market average79.77% above the market average79.77% above the market average79.77% above the market average
88.57% above the sector average88.57% above the sector average88.57% above the sector average88.57% above the sector average88.57% above the sector average
Income Not Available
Growth
74.18% above the market average74.18% above the market average74.18% above the market average74.18% above the market average74.18% above the market average
57.58% above the sector average57.58% above the sector average57.58% above the sector average57.58% above the sector average57.58% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MPAC Group Dividends

  Latest Previous
  Interim Final
Ex-Div 15-Sep-16 14-Apr-16
Paid 13-Oct-16 11-May-16
Amount 1.25p 1.50p

Trades for 28-Mar-2024

Time Volume / Share Price
16:22 9,540 @ 460.00p
17:08 1,750 @ 455.00p
16:27 2,000 @ 462.00p
16:26 142 @ 455.60p
16:19 2,500 @ 460.00p

MPAC Group Key Personnel

Chair Andrew Kitchingman
CEO Adam Holland

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