Finance

Park Lawn Corporation completes acquisition

Foundation Partners why I partnered

Last Friday the Park Lawn Corporation, headquartered in Toronto, issued this press release which confirms that they have completed an  acquisition announced earlier in the year.  The press release tells of the completion of the Nashville, Tennessee area acquisition which includes Family Legacy, LLC, a business with 12 locations.  The acquisition also includes the membership units of WG-TN, LLC.

The press release also indicates that the closing excludes one stand-alone funeral home that Park lawn Corporation had intended to purchase from Family Legacy, LLC.  That exclusion, according to the Park Lawn press release, has proportionately reduced the purchase price and operating expectations of the proposed acquisition.

Park Lawn now indicates that the expected annual revenue from the acquisition will be $20.2 million as opposed to a pre-close expection of $22.5 million and an annual EBIDTA of approximately $5.5 million as opposed to a pre-close expectation of $5.8 million.

Here is an article that Funeral Director Daily did on this acquisition announcement in early 2020.

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