Finance

International acquisitions – Propel adds Kiwi firms, Ontario firm happy after one year

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We learned last week that Propel Funeral Partners that operates out of Australia and New Zealand had purchased the Dils Group which has locations in New Zealand and Australia.  The Dils Group is said to have performed about 800 services last year and brought in revenue of about US $ 4.96 million.

You can see a video and story on this acquisition from the Finance News Network here.

That revenue of about US $ 4.96 million would equate to about a revenue per case average of US $ 6,200.

Propel Funeral Partners is the 2nd largest purveyor of death care services in Australia and New Zealand.  Second only to InvoCare.  Propel Funeral Partners is believed to have conducted about 13,000 services last year bringing in revenue of about US $ 81 million.  That would equal about US $6,230 in revenue per case.

The addition of 800 cases and about US $4.96 million in revenue would grow Propel Funeral Partners size by about 5.5%.

Happy in Chatham—  I came across this article from Chatham This Week that suggests that the Kendrick Family, owners of the Kendrick Funeral Home in Kingsville, Ontario, are happy with the purchase of the Denning’s Funeral Home locations in Chatham, Ontario, and in Wheatley, Ontario, last December.

Here is the website for the Kendrick Funeral Home.

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