Easton Investments Limited (ASX.EAS) is a fast-growing distribution business in the accounting and financial services business channel with a bright future. EAS grew normalised EBITDA by 28% to $3.3 million for FY16, and we believe that this growth rate is poised to accelerate in FY17 through a combination of organic and inorganic growth opportunities. Organically, EAS has several growth options including Knowledge Shop, which provides training to accountants. Knowledge Shop has begun complementing its traditional face-to-face training with a high margin web-based offering. The web-based offering grew 52% last year, and we believe demand will continue to grow strongly in FY17 as EAS expands web-based training from live events to pay-on-demand training.