There is an ASX All Ords share flying under-the-radar that one portfolio manager is getting very excited about right now.
That share is the little known IPD Group Ltd (ASX: IPG), which currently has a market capitalisation of approximately $320 million.
IPD is a national distributor and service provider to the Australian electrical market. Think of it as the Dicker Data Ltd (ASX: DDR) of electrical infrastructure products.
Its core focus in the products division is the sale of electrical infrastructure products to customers including switchboard manufacturers, electrical wholesalers, electrical contractors, power utilities, OEMs and system integrators.
The company also provides a range of value-added services. This includes custom assembly, sourcing, engineering design, technical compliance, procurement, transport, storage, regulatory management, technical support, packaging, labelling, inventory management and delivery.
Who is bullish on this ASX All Ords share?
The portfolio manager that has been raving about this ASX All Ords share is Josh Clark from QVG Capital's long-short fund.
While Clark may be going short on some stocks, he is well and truly going long on this one.
According to the AFR, the portfolio manager believes IPD is well-placed to grow strongly for a long period of time. He explains:
IPD is a distributor to the electrical industry providing products not unlike the circuit breakers in your home but on an industrial scale. Think hospitals, data centres, engineering applications, utilities etc. We like it because they have the ingredients to dramatically increase their market share over the next decade.
They compete against a large, foreign-owned incumbent and a small handful of independents, all of whom are in maintenance mode. We've seen this movie before with companies like Dicker Data, which have been more agile and customer-focused than their foreign competition, allowing them to grow at high rates for long periods of time.
All in all, this could make IPD an ASX All Ords share to keep a very close eye on.
