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Investors take a closer look at ive

Thursday, 28 May 2015
By Print21

Geoff Selig, ive Group executive chairman

Prospective investors have taken a site tour of ive Group’s operations ahead of the company’s planned listing on the ASX on July 1.  The deal is shaping up as the largest stock market play in the industry.

The private equity-backed ive Group, formerly known as Blue Star Group, is hoping to raise at least $120m from the initial public offering. Fund managers viewed the group’s operations on Friday ahead of a management roadshow early in June and a book build scheduled for June 11.

The reborn Blue Star plans to debut as a public company on July 1 with a market value of $200m. Bell Potter Securities and Evans and Partners are assisting on the deal, which has been the subject of widespread industry rumour for some time.

Current owners Wolseley Private Equity and the Selig family will retain about 45 percent once the business is listed – subject to escrow considerations.

Sydney-based Blue Star launched an aggressive acquisition strategy over the past year before rebranding in April as ive Group, which includes three operating divisions – Blue Star Group, iveo and Kalido.

The newly minted print and marketing company has shut down all public comment ahead of the planned float. Geoff Selig, ive Group executive chairman, has been unavailable for comment.  A spokesperson said Selig “might be available to comment…in a couple of weeks.”  Blue Star Group CEO Matt Aitken confirmed that there would be “no official comment at this time.”

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