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PPE, People Infrastructure
nipper
post Posted: Jun 21 2019, 06:43 PM
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Spotlight on People Infrastructure

QUOTE
People Infrastructure (ASX: PPE) is a workforce management company specialising in providing contracted labour to its clients. This week, PPE acquired two Queensland-based healthcare staffing agencies for $16.8 million. This acquisition will allow PPE to expand its health and community care business, permitting the increased provision of nursing staff to hospitals and aged care facilities in Queensland. The sunshine state is a popular retirement location for many Australians, providing solid growth potential.

The acquisitions were funded by a $20 million capital raising completed last week. We participated in the raising as an existing shareholder at the discounted price of $2.70 per share. We first invested in PPE at its initial public offering in November 2017, due to its strong management team, solid organic growth record and the fragmented nature of its industry, which has significant acquisition opportunities.

We continue to hold PPE as its recent successful capital raising has put its balance sheet in a healthy position to continue its growth strategy.
- Wilson Asset Management

PPE is currently trading at $3.27 per share.



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