TakeoverPE & activists

GPGIGPGI, Inc.

Finance Services · $850M market cap · 971 employees

1.2×

More likely than average to be taken private

Top 14% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

3of 15 firedHow well they predict deals →
12 other checks
  • TSR below peersNo
    1 of 3 years
    3+ of last 5 years
  • High CEO pay despite TSRNo
    $7M median
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    —
    Cash flow under 80% of net income
  • Dilutive SBCNo
    7% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    -54% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    —
    Over 40% of assets
  • Shareholder dissentNo
    93% lowest support
    Any vote under 80% support
  • Quiet on AINo
    0.8 per 10K words · 28th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    —
    More cash than debt, positive EBITDA
  • Recurring revenueNo
    3 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    1 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Net insider sellingNo
    $2M net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Nov 30, 2021DEFM14ALLR Equity Partners IV, L.P.$10.00100%
May 28, 2021PREM14ALLR Equity Partners IV, L.P.$71.0571.0472541%

Key numbers

Revenue
$60MFY2021: $268MFY2022: $378MFY2023: $391MFY2024: $421MFY2025: $60M
86% YoY
Operating margin
-23.0%FY2021: 30.4%FY2022: 30.4%FY2023: 30.5%FY2024: 25.6%FY2025: -23.0%
190% YoY
EBITDA
−$12MFY2021: $92MFY2022: $123MFY2023: $127MFY2024: $117MFY2025: −$12M
110% YoY
Net debt / EBITDA
—
−$8M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$268M$378M$391M$421M$60M 86% FY2021: $268MFY2022: $378MFY2023: $391MFY2024: $421MFY2025: $60M
Operating income$81M$115M$119M$108M−$14M 113% FY2021: $81MFY2022: $115MFY2023: $119MFY2024: $108MFY2025: −$14M
Net income$3M$19M$113M−$83M−$136M 64% FY2021: $3MFY2022: $19MFY2023: $113MFY2024: −$83MFY2025: −$136M
Operating cash flow$78M$93M$104M$130M−$23M 118% FY2021: $78MFY2022: $93MFY2023: $104MFY2024: $130MFY2025: −$23M
Capex$5M$9M$11M$7M$0 100% FY2021: $5MFY2022: $9MFY2023: $11MFY2024: $7MFY2025: $0
Stock-based comp$6M$11M$18M$21M$4M 79% FY2021: $6MFY2022: $11MFY2023: $18MFY2024: $21MFY2025: $4M
Buybacks——$0$0$12MFY2023: $0FY2024: $0FY2025: $12M
Dividends—$0$0$9M$0 100% FY2022: $0FY2023: $0FY2024: $9MFY2025: $0

13D filers

FiledFilerFormStakeIntent
Jan 20, 2026PLATINUM EQUITY, LLCSCHEDULE 13D18.3%Passive
Jan 14, 2026Resolute Compo Holdings LLCSCHEDULE 13D/A83.5%Passive
Nov 4, 2025Resolute Compo Holdings LLCSCHEDULE 13D/A39.4%Passive
Sep 10, 2025Resolute Compo Holdings LLCSCHEDULE 13D/A79.7%Active
Aug 27, 2025Resolute Compo Holdings LLCSCHEDULE 13D/A82.5%Active
Aug 22, 2025Resolute Compo Holdings LLCSCHEDULE 13D/A88.1%Active
Feb 14, 2025Resolute Compo Holdings LLCSCHEDULE 13D/A99.5%Active
Nov 29, 2024Resolute Compo Holdings LLCSC 13D/A51.3%Passive
Sep 19, 2024Resolute Compo Holdings LLCSC 13D59.7%Passive
Sep 17, 2024LLR EQUITY PARTNERS IV, L.P.SC 13D/A0.0%Passive

Insider trading

+$2Mnet buying by insiders, open market, last 12 months
Bought $2M · 8 tradesSold $462K · 2 trades

Pay vs performance

YearCEO total compComp actually paidTSR (indexed)Peer TSR
FY2025$6M$23M503231
FY2024$7M$63M330192
FY2023$7M$4M111154