They spent $103m in FY16 on UASG and Prime Laundries, and $99m in FY15 to buy AESmith, Techguard Security, Aladdin Laundries and ILS.
The press release for the Nuvo acquisitions says “This is a modest acquisition of a boutique operation...", that just doesnt gel with a $150m price tag given previous acquisitions, and AE Smith.
Without knowing the business at all, just from the wording and previous acquisitions i will be disappointed if turns out they spent more than 30m on it.
SPO Price at posting:
94.5¢ Sentiment: Buy Disclosure: Held
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