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Announced

TPG to acquire InvoCare for AUD2.2bn.

Financials

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Transaction Value£1,232m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA18x
Share Price Premium42%
One Off Charge-

Tags

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Private Equity

Majority

funeral services

Public

Australia

Friendly

Acquisition

Funeral Parlors and Cemetery

Cross Border

Single Bidder

Pending

Synopsis

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TPG, a private equity company, agreed to acquire InvoCare, a funeral homes and funeral services company, for AUD2.2bn. InvoCare's board unanimously recommended its shareholders to vote in favour of the revised proposal. A TPG spokesperson said the revised price fairly values the business, taking into consideration factors including its subdued performance in the first half of this year and the implications of the current trading conditions on the remainder of the year.

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