In recent times, the mergers and acquisitions company ILUS International Inc (OTCMKTS:ILUS) has seen its stock move quite strongly. However, last week, the stock had a correction and declined by as much as 15% as investors decided to book some of their profits.
That being said, the correction could also be an opportunity for new investors and hence, it might be a good time to take a look at the progress made by ILUS so far this year. The company has already completed the acquisitions of as many as three companies so far this year.
However, it is still working on additional acquisitions and is primarily focussed on companies based out of Europe and the United States. Last week, ILUS announced that it had reached an agreement regarding the terms for the acquisition of a fire fighting equipment distribution company based out of the United States.
It could be a significant acquisition considering the fact that the company is already profitable and boasts of a number of exclusive distribution contracts with some of the best known fire fighting equipment brands in the world at this point. The company has a turnover of $3 million currently.
