M&A Deal Summary

TPG Acquires Invocare

On August 9, 2023, private equity firm TPG acquired consumer services company Invocare for 2.2B USD

Acquisition Highlights
  • This is TPG’s 8th transaction in the Consumer Services sector.
  • This is TPG’s 39th largest (disclosed) transaction.
  • This is TPG’s 8th transaction in Australia.

M&A Deal Summary

Date 2023-08-09
Target Invocare
Sector Consumer Services
Buyer(s) TPG
Deal Type Going Private
Deal Value 2.2B USD
Advisor(s) Gresham
Goldman Sachs (Financial)
Clayton Utz (Legal)

Target

Invocare

North Sydney, Australia
InvoCare engages in ownership and operation of funeral homes, cemeteries, and crematoria primarily in Australia. InvoCare was founded in 2001 and is based in North Sydney, Australia.

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Buyer(S) 1

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 427 of 453
Sector: Consumer Services M&A 8 of 9
Type: Going Private M&A Deals 37 of 40
Country: Australia M&A 8 of 9
Year: 2023 M&A 11 of 14
Size (of disclosed) 39 of 114
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-03 Hybar

Osceola, Arkansas, United States

Hybar is a company established to build, start up, and operate a technologically advanced and environmentally sustainable steel rebar mill that recycles scrap metal. Hybar is based in Osceola, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-17 A-Gas

Bristol, United Kingdom

A-Gas is an independent global specialist blender, re-packer, and distributor of specialty gases and chemicals to the refrigeration and insulation foam industries, primarily focusing on environmentally acceptable replacement products for chlorofluorocarbon (“CFC”) gases and liquids. A-Gas was founded in 1993 and is based in Bristol, United Kingdom.

Buy -