Andlauer Healthcare Group (AND) announced on Thursday April 24, 2025, that it will be joining the UPS family of companies in an all-cash transaction at $55.00 per share. UPS has agreed to acquire AND, valuing the company at $2.2 billion, which represented a premium of 31.1% over the closing price prior to the announcement.

DTOL has been effective in modernizing the learning experience for organizations and the public sector across the globe, and while it is growing its top-line at a moderate pace, due to its SaaS-based nature, it can scale up its earnings quickly. DTOL has seen margin expansion in recent quarters, and we are encouraged by its high revenue retention rate, its diversified customer base, and positive free cash flows. While it is growing at just a moderate pace, we feel its valuation is fair, and if the company can continue to execute by growing its product pipeline and attracting new customers, we feel its multiples can expand closer to the average of its peers.

NWC is a low-risk, high-quality consumer staples name that has demonstrated a track record of consistent operational efficiency and disciplined capital allocation over the years. The company’s business model targets niche markets of remote, rural areas with small populations, which keep the competition less intense for NWC relative to other retailers, allowing them to earn decent returns on capital. NWC’s same-store sales growth has been stable over the years, which even accelerated slightly in the most recent fiscal year. The company has a prudent “incrementalism” approach in its store expansion strategy, as the company gradually expand the store count while optimizing profitability and same-store-sales growth.