InvoCare to Continue Growing Domestic Share With Tuck-in Acquisitions
Our AUD 16.50 per share fair value estimate for wide-moat InvoCare is unchanged, following the company’s bid for Norwood Park, a funeral provider with operations in Canberra, Bathurst, and Ipswich. The company performs over 2,000 cremations per year and generates sales of around AUD 5 million annually. Despite being small, the acquisition demonstrates InvoCare’s commitment to growth at a reasonable price.The company has offered AUD 65 in cash per Norwood Park share, representing a total purchas...
Invocare is a provider of services in the funeral industry in Australia, New Zealand and Singapore with smaller operations in Hong Kong and the U.S. Through its associate, Co. provides online memorial services to allow families and communities to celebrate the life of a loved one.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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