We received this press release yesterday that spells out that Park Lawn Corporation received approval (The Final Order) from the Ontario Superior Court of Justice that allows for the transfer of ownership of the company from Park Lawn Corporation to a company called Viridian Acquisition Inc., which is a wholly-owned subsidiary of Viridian Holdings LP.  Viridian Holdings LP, according to the press release, is a limited partnership owned by Homesteaders Life Company and Birch Hill Equity Partners Management Inc.

Again, according to the press release, “The Final Order was the final substantive court approval required prior to closing of the Arrangement, which is anticipated to occur on or about August 9, 2024″.

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  It is our understanding that upon the closing of this agreement Park Lawn Corporation will cease to be a publicly owned company and will operate in private.  There are plenty of reasons that can be made that operating in private will be much easier for a company such as Park Lawn Corporation that public operation didn’t allow.

However, there is also the possibility that the visibility and name recognition that public ownership brought to the company will slowly evaporate in private operation.  It will be interesting to see how much, if any, publicity among the press that the “new” Park Lawn will seek.

“Out of sight, out of mind” is an old phrase that may affect perception in Death Care.  I’ve seen StoneMor Partners, Dignity plc, and InvoCare all go private in the last few years and seldom see them involved in family-owned acquisitions anymore.  Of course, being privately held companies now, that may simply be a function of not informing public shareholders as we were used to. . . . . or is it that the same level of awareness is not there with family owners as it was when they were public companies?

Enter your e-mail below to join the 3,053 others who receive Funeral Director Daily articles daily:

“A servant’s attitude guided by Christ leads to a significant life”