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Press Release

Congratulations to IVE on completing the acquisition of Ovato assets

With revenue last year of circa $760m, diversified marketing and communications business IVE Group Limited (ASX:IGL) – with the assistance of Grant Thornton – has successfully completed the acquisition of selected printing and finishing assets of Ovato Limited.

As a result of the transaction and when fully integrated, IVE will become the only comprehensive Heat Set Web Offset (HSWO) print producer in Australia. The transaction return metrics are predicted to significantly uplift IVE’s FY23 revenue (additional expected annual revenues of $160m) and generate meaningful shareholder value.

Grant Thornton acted as IVE’s advisors throughout the multi-faceted transaction and advised IVE on all financial and structuring aspects of the transaction.

Said Jahani, National Managing Partner – Financial Advisory at Grant Thornton said: “We helped our client, IVE work through a very complex road to deliver with a number of innovative solutions to deliver a successful outcome. The transaction had many challenges which we were able to navigate through with the IVE team. These included Ovato being in Voluntary Administration which meant the transaction had to be completed in an expedited timeframe, IVE requiring the approval of the Australian Competition and Consumer Commission (ACCC), and the management of multiple stakeholders.

“In addition, the expedited timeframe was essential in order to give certainty to Ovato’s customers, suppliers, lenders and employees regarding the future of the business. We’re proud to have assisted IVE in this transaction to ensure the continuity of product and service delivery to existing Ovato customers.”

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