Park Lawn moves into Iowa and Nebraska with recent acquisition

 

 

Park Lawn Corporation (PLC) whose website now states, “is the fastest growing company in the industry in North America”, announced last week that they have moved into the states of Iowa and Nebraska with the acquisition of Meyer Brothers Funeral Homes.

 

Meyer Brothers Funeral Homes has, among their five locations, locations in both states.  According to this press release from Park Lawn Corporation, the acquisition includes locations in Sioux City, Iowa, South Sioux City, Nebraska and Ponca, Nebraska.  In total, the release also mentions that Park Lawn Corporation is acquiring five stand-alone funeral homes that do a total of 1,116 calls per year.

 

The press release also mentions that Park Lawn Corporation expects to add over $1.8 million in EBITDA to its financials annually from the acquisition and that the acquisition will be financed via the company’s credit facility and cash on hand.

 

PLC’s Chief Executive Officer, J. Bradley Green, had this to say of the transaction, “We are pleased to welcome the Meyer businesses into the Park Lawn family as they exemplify the characteristics of the premier independent operating firms Park Lawn seeks to partner with in its growth strategy.  These highly regarded businesses are a staple in their respective communities and we are proud to have them as part of our team”.

 

Here is the website for the Meyer Brothers Funeral Homes.

 

Here is a map from the company website of Park Lawn Corporation business units updated to include the Meyer Brothers Funeral Homes acquisition.

 

For your weekend read — Here’s the latest that we have heard on the InvoCare/TPG Capital potential change of ownership in Australia:

 

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