ComfortDelGro makes an acquisition of an Australia transport business.
This will be a business targeting a different segment of needs.
With 144 vehicles. It offers a range of healthcare transport services to major metropolitan hospital networks including walker, hoist and stretcher transport services, and specialist services for high acuity and complex patients. NPT also operates a registered training organisation that is qualified to deliver and assess a range of non-emergency healthcare transport, first aid and resuscitation courses in Australia.
The purchase price is SG$30 mil, which likely will be internally finance. NPT was purchased at 5.6 times EBITDA.
This looks like a splendid acquisition to most people versus the deal that they struck with Uber for the Lion City Car Rental (LCR).
That looks more like a forced deal since in the past 2 years LCR have not been very profitable.
The narrative seems to be that LCR would translate ......