It’s been a couple of weeks since the largest death care and pet death care concern in Australia, InvoCare, rejected an unsolicted offer from the United States giant private equity firm TPG Global Capital to acquire its business.  However, not all has been silent. . . . In this post we include a couple of articles from down under concerning the deal.

 

An interesting take with one of the articles is that an article in the Australian Business Review seems to relate that Asia’s largest death care provider, Nirvana Asia, was already in the acquisition sights of InvoCare at the time of the TPG Global offer.  The article surmises that maybe TPG Global would want to make a run at both of these companies and combine them into one operating unit.

 

In that article, analysts from Macquarie are quoted as saying this, “It would be hard to see InvoCare acquiring this, but it would make more strategic sense for TPG to acquire both InvoCare and Nirvana.”

 

Macquarie analysts (also) said “that a combination of both businesses could deliver cost synergies, a materially larger footprint in the faster-growing South East Asian market, and potential to move InvoCare’s Pets business into TPG’s existing Greencross pet care and vets business.”

 

Article —  $2 billion Asia opportunity justifies higher InvoCare bid:  Analysts.  The Australian Business Review

Article —  InvoCare’s slow walk creates three options for PE suitor.  Australian Financial Review

 

Here is the Nirvana Asia website

Here is the InvoCare website

 

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