This is the fifth post in my series about the special situation investing sub-sector of Special Purpose Acquisition Companies or SPACs for short. This is by far the most frustrating article that I have written in some time. It's frustrating because I am about to discuss an investment that is right in my wheelhouse that I somehow missed a massive gain on. Having said that, I think that it has the potential to gain several hundred percent from here. Back in February, a hedge fund that I am very familiar with and follow fairly closely, Bill Ackman's Pershing Square made a presentation about the type of investments that it is looking for right now, industry rollups that have tremendous runways for growth. Ackman has done very well with a number of this type of investment, which seeks to put intelligent capital allocators in charge of companies whose sole purpose is to devour other companies in an industry, squeeze synergies out of them and generate tremendous growth. Ackman is invested in a number of this type of company right now. One that he sang the praises of at the recent Ira Sohn Conference was Jarden Corporation $JAH. Run by by Ackman's good friend Martin Franklin, Jardine is a company that rolls up consumer products, including popular brands that everyone is familiar with like Yankee Candle, Hoyle and Bicycle playing cards, First Alert Alarms and many more. Jardine is a growth machine, with a stock that has risen 4,518% since 2001. Platform Specialty Products Corporation $PAH is a newer, yet similar rollup company in Pershing Square's portfolio. It seeks to acquire companies in the chemicals sector. Since its creation as a SPAC by the aforementioned Mr. Franklin, Platform's stock has returned an amazing 175% and counting. Valeant Pharmaceuticals $VRX is third, more controversial growth machine in Pershing Square's stable of companies. As the name suggests, Valeant is an acquisition monster in the pharma sector. Since its creation in 2008, VRX's stock has exploded an astonishing 4,500%. While not exactly a rollup like these companies, Ackmann was also involved in the wildly successful Justice Holdings SPAC, that along with the famous 3G Partners went on to purchase Burger King, which ultimately merged with Tim Hortons. Investors who were able to get in on the ground floor of any of these growth machines were rewarded handsomely. I was well aware of both Platform and Burger King fairly early on in their lives. Alas, when I found out about them their stocks were both up more than 50% and I thought that I had missed the boat (that and I thought then and still think that Burger King's restaurants stink). If I had ignored those initial gains, held my nose and bought into these growth engines anyways I would have been rewarded handsomely. They say that history doesn't repeat itself, but it often rhymes. I think that I may have found the rhyme to Platform and Burger King in a relatively new SPAC called Nomad Holdings. Nomad that trades on the London Stock Exchange under the ticker NHL and in OTC in the U.S. under the symbol $NOMHF. Once again, this SPAC is run by two known Ackman associates who have been involved in very successful companies in the past, Noam Gottesman and Martin Franklin. Their involvement should have been the key tipoff for me that something special was going to happen at Nomad. Alas, I somehow missed this clue and missed out on the 80%+ gains in the stock thus far. In April, Nomad purchased a European frozen food company called Iglo Foods Holdings for 2.6 billion Euros. At 8.4x trailing EBITDA, the purchase price of the acquisition was nothing special, but after more acquisitions are rapidly made that doesn't seem to matter for rollups. Word is that massive growth is coming to Nomad: Now Messrs. Franklin and Gottesman, backed by the surging strength of the U.S. dollar, want to climb to the top of the food chain. Nomad last week agreed to buy Iglo Foods Holdings Ltd., a U.K.-based frozen-food company whose brands include Iglo and Birds Eye, for €2.6 billion ($2.83 billion) from a company backed by Permira funds, the first in what Nomad said would be a spree of food acquisitions around the world. “There is no limit to our ambition” within the food sector, Mr. Franklin, 50 years old, said in an interview. Mr. Franklin, who will continue in his role as executive chairman of consumer-products company Jarden Corp.JAH1.15%, added that more cash would likely become available from investors as deals came up. Nomad Hungry for More Food Deals http://www.wsj.com/articles/nomad-hungry-for-more-food-deals-1430133113 Nomad's stock is up 11% today when word officially broke that Ackman's Persing Square Holdings now owns a 22% stake in the company. No duh, he's been talking about it for months. I should have seen this one coming and beaten some of the pop. So should one wait for a pullback to buy Nomad's stock? The last time I waited for a pullback with a company like this was Platform, and I was never given an opportunity to buy in. If Nomad is anything like the other rollups that I mentioned, there should me many hundred percent worth of gains still left in it. I am considering purchasing a position in the company directly on the London Exchange, even after the recent rise. I may have to jump through some hoops to do so though because my broker's Global Trading Platform is not cooperating. I have a feeling that purchasing shares of Nomad will be worth a little extra effort.