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One of the best investors ever? Chuck Akre
What he looks for?
High returns on capital
Plenty of reinvestment opportunities
Great management
That’s exactly what serial acquirers offer.
Let’s explore Lifco, a high-performing serial acquirer from the Nordics.
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Lifco - General Information
👔 Company name: Lifco
✍️ ISIN: SE0015949201
🔎 Ticker: LIFCO-B
📚 Type: Owner-Operator Stock/Serial Acquirer
📈 Stock Price: SEK 400.2 ($41.8)
💵 Market cap: SEK 169.6 billion ($17.7 billion)
📊 Average daily volume: SEK 1.2 million
Onepager
Here’s a onepager with the essentials of Lifco:
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15-Step Approach
Now let’s use our 15-step approach to analyze the company.
At the end of this article, we’ll give Lifco a score on each of these 15 metrics.
This results in a Total Quality Score.
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1. Do I understand the business model?
Lifco in one sentence?
Over 257 different revenue streams that have grown by 31.7% per year.
Lifco is a serial acquirer specializing in buying profitable, stable niche companies. Today, they have 257 (!) subsidiaries.
The Swedish company operates in the following industries:
Systems Solutions (52.0% of Revenue): Provides specialized products and services for various industries. Amayse is a subsidiary in this segment. They provide 3D advertisements.
Demolition & Tools (24.4% of Revenue): This division delivers essential equipment and accessories for construction and demolition, like the demolition robot from Lifco’s biggest subsidiary, Brokk.
Dental (23.6% of Revenue): Supplies top-quality materials, equipment, and solutions for dental professionals worldwide. An example is the production of dental implants.
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Lifco’s ideal subsidiaries?
Market leaders in a niche market
Family-owned businesses
A long, stable history and proven profitability
Not relying on one supplier or customer
Lifco thinks as a quality investor.
And it gets even better.
The company runs on a decentralized model. Acquired businesses keep their independence.
It’s like one big Owner-Operator owning many small Owner-Operators.
"The best acquirers don’t buy companies to fix them, they buy great companies and let them keep doing what made them great."