Park Lawn Corporation announces three acquisitions
Toronto-based Park Lawn Corporation, a funeral home and cemetery owner and operator, announced in this press release last week that it had acquired three businesses which constitute an addition of six stand-alone funeral homes, one stand-alone cemetery, three combination funeral home/cemetery properties, and five event centers. All businesses are located in their growing North Carolina and Tennessee market areas.
The companies acquired include Pugh Funeral Homes and New Hope Memorial Gardens in North Carolina, Smith Funeral & Cremation Service and other Smith assets such as Life & Legacy Cremation Center and Smith Event Centers, and Grandview Cemetery and Cremation. The Smith family of businesses is located in Tennessee.
Park Lawn Corporation (PLC) also announced in the press release that they had acquired the Williamson Memorial Funeral Home & Cremation Services and Spring Hill Memorial Park, Funeral Home &Cremation Services in Tennessee. Those businesses had been under common ownership by the Williamson family.
Again, according to the press release, the totality of the above acquisitions represent 2,227 calls and 612 annual interments. PLC concluded the release by saying the purchase price was within the company’s targeted EBIDTA multiple range and that the acquisitions will add approximately US $6.2 million in EBIDTA to Park Lawn Corporations operating results.
Finally, Park Lawn Corporation CEO J. Bradley Green had this to say about the transactions, “Each of the Pugh, Smith and Williamson businesses represent premier funeral home and cemetery businesses with esteemed reputations in their respective North Carolina or Tennessee markets. The acquisition of these businesses continues to deepen PLC’s presence in rapidly expanding high-growth areas in the southern U.S. We are honored that these distinguished businesses and their long-time owners have chosen to become a part of the PLC family.”
Park Lawn Corporation and its subsidiaries own and operate businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. The company operates in three Canadian provinces and fifteen U.S. states.
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