Finance

Access Holdings raises $630 million for investment expansions

Foundation Partners why I partnered

We learned last week, and you can read more in in an article found on this page from Access Holdings, that the Baltimore based investment firm had secured $630 million in credit facilities to assist it as it goes forward in building out its platform of companies.

As you may know, Access Holdings is the mid-market investment firm that is supporting the “buy and build” approach of Orlando based death care company Foundation Partners Group (FGP).

According to the press release, the $630 million in credit facilities will be used to “support three separate platform companies, Playfly Sports, Foundation Partners Group, and Car Wash Owners Network.  These credit facilities will support Access’s active M&A efforts, as well as help the firm build out key capabilities to support enduring value creation initiatives.”

Here’s what Access Holdings Founder and Managing partner Kevin McAllister said in the press release, “These credit facilities directly support our buy-and-build investment strategy.  These separate credit facilities give our platforms immense flexibility. . . .  Strong capital resources facilitate our focused and active strategy of building enduring market leading businesses; alongside exceptional entrepreneurs and founders.”

Here is the web-site of Foundation Partners Group.

Here is the web-site of Access Holdings.

Funeral Director Daily take:  According to their website, Foundation Partners Group has now grown to nearly 160 funeral facilities in 20 states.  From our point of view, at Funeral Director Daily, they seem to be aggressive, but focused, in their approach to adding more facilities.  The above mentioned credit facility should allow them to continue their aggressive approach in building out their number of death care units as the credit facility helps them compete with public companies in having the capital available for acquisitions.

Again, from our point of view, those operators with desirable acquisition operations and a desire to move forward with business succession, should have no shortage of suitors as we come out of the pandemic.  If interest rates can stay low and there is sufficient capital on the part of the large acquisition companies that dynamic should allow the right operations to benefit from higher sale values.

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