Filing Flows › Cimpress (CMPR) › Takeover & LBO
Is Cimpress (CMPR) a takeover target?
A leveraged buyout at today's price plus 30% ($74.13 a share) would return about 13% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $57.12 a share (0% against today's $57.02). Historically 4.0% of companies with its figures were bought within a year (0.79× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $74.13 | today's $57.02 plus 30% |
| × shares | 24.5 million | |
| = Equity value | $1.8B | |
| + Debt refinanced | $1.6B | |
| − Cash | $120M | |
| + Other claims | $19.8M | preferred stock, minority interests |
| = Enterprise value | $3.4B | 8.7× EBITDA of $388M |
| Fees | $67.2M | 2% of the price |
| New debt | $2.1B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $1.3B | 38% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $4.1B | $419M | $163M | $95.6M | $2.0B |
| Year 2 | $4.4B | $447M | $156M | $120M | $1.9B |
| Year 3 | $4.6B | $471M | $147M | $144M | $1.8B |
| Year 4 | $4.8B | $491M | $136M | $167M | $1.6B |
| Year 5 | $5.0B | $506M | $123M | $190M | $1.4B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 7.6× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $3.8B | |
| − Debt left | $1.4B | |
| = Buyer's equity | $2.4B | |
| Money multiple | 1.87× | on $1.3B put in |
| Buyer's yearly return (IRR) | 13.4% |
Price against return
What the buyer makes at other premiums over today's $57.02; the IRR reaches 20% at $57.12 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $62.72 | 17.9% |
| 20% | $68.42 | 15.8% |
| 30% | $74.13 | 13.4% |
| 40% | $79.83 | 11.0% |
| 50% | $85.53 | 9.0% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $3.8B | |
| EBITDA, last 12 months | $388M | 10.2% of revenue |
| Depreciation and amortization | $160M | |
| Capital spending | $96.7M | |
| Debt | $1.6B | |
| Cash | $120M | |
| Share price | $57.02 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 30% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Cimpress would cost about $75.55 a share, $1.8B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $68.42 | $1.7B |
| Median | 32.5% | $75.55 | $1.8B |
| High end (a quarter paid more) | 51.8% | $86.56 | $2.1B |
The odds, from history
Historically 4.0% of companies with its figures were bought within a year (0.79× the average). Its figures put it in decile 4 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Cimpress' latest quarter
Cimpress, Q1 FY27: revenue $934M (+8% year over year), operating margin 2.8%, net loss $991K, operating cash flow $28.9M. The chart follows the revenue to costs, profit and cash.
Questions
Is Cimpress being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Cimpress?
A leveraged buyout at today's price plus 30% ($74.13 a share) would return about 13% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $57.12 a share (0% against today's $57.02).
What would a takeover of Cimpress cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Cimpress would cost about $75.55 a share, $1.8B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.