Tag: Propel Funeral Partners

Finance

Propel Funeral Partners shows growth with 2022 Annual Report

Propel Funeral Partners, the public company that owns and operates funeral homes, cremation facilities, cemeteries, and related infrastructure in Australia and New Zealand, announced their Fiscal Year 2022 (FY22) results in late August, and did so by showing growth all across their reporting numbers. The company that began in 2012 with 278 funeral services reported 16,537 funeral services in FY22 which is an 18% increase over the 13,916 services conducted in FY2021.  The company that now has 144 locations also […]

Finance

Acquisitions: Two continents, two hemispheres, corporate firms, 4th generation firms. . . they keep happening

Going into the weekend we thought we needed to remind you that acquisitions keep on coming in the death care business.  In the last week or ten days here’s a couple we noticed. Cleveland’s Busch Funeral and Crematory Services, a 4th generation firm has added Schuster-Straker-O’Connor Funeral Home  of Parma, Ohio, to its existing Northeast Ohio footprint. According to the press release of August 19, that you can read here, Busch is solely family owned and operated, and offers burial, […]

Finance

Propel Funeral Partners makes acquisition. . . . enters pet business

Propel Funeral Partners, billed as the 2nd largest provider of death care services in Australia and New Zealand  announced last week its acquisition of Community Funerals and Cremations for Pets.  Community Funerals operates from four locations in and around Cairns, Queensland, and was founded in 2008.  Cremations for Pets was founded in 2017. The business combination will bring about 250 funerals per year to Propel Funeral Partners and will introduce the company to the pet cremation business with about 400 […]

Finance

Propel Funeral Partners reports First-Half 2022, volumes, Revenue per Case move up

There is no doubt that the world is a smaller place today because of the information that can be received instantaneously.  Look no further than war reporting and satellites in the sky — during World War II information on battles took days to reach American civilians while today reporters are in the field and send information via satellite in real time. It is no different in the business world, including the world of funeral service, where customs and best practices […]

Finance

Propel Funeral Partners raises capital, announces Share Purchase Program

Propel Funeral Partners of Australia and New Zealand announced last week, in this announcement, that they had raised $AU 50.2 million via a placement with institutional investors.  They also announced that they are offering eligible existing shareholders the opportunity to purchase a total of up to $AU 10 million via a share purchase plan. Here’s what Albin Kurti, Managing Director of Propel said in the release, “We are delighted by the support received from Propel’s existing institutional shareholders and to […]

Finance

Co-op FuneralCare acquires 50 locations, Propel Funeral Partners reports improved performance

Across the Atlantic Ocean we have learned that Co-operative  Funeral Care in Great Britain has reached agreement to purchase the funeral and preneed related businesses of Midcounties Co-op funerals.  The number reported in this article states that Co-op Funeral Care will acquire 50 funeral homes and 2 vehicle logistic sites from Midcounties. The transaction will be dependent on approval of the Competition and Markets Authority of Great Britain.  If completed, Co-op Funeral Care will number 182 locations.  According to another […]

Business Finance

Australian funeral homes fare much differently than U.S. counterparts

The COVID-19 pandemic during the year 2020 and how countries geographic location and national responses to the situation could not be more different than you see in recent publicly owned funeral home companies’ annual reports. We’ve reported on the results of the United States Service Corporation International (SCI) and Carriage Services both in the last week.  At the end of last week we received early data and results from the two largest public funeral home operators in Australia and New […]

Finance

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

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 […]

Afternoon Edition

Afternoon Edition: Articles from the weekend

In today’s Afternoon Edition we will provide you with some articles that came out over the weekend.  There is probably something for everybody’s interest in these articles as we always find that it is interesting to catch up with what is going on in other parts of the United States or in other parts of the world. Here’s what we have today: North Carolina among the last states to make death records electronic.  North Carolina has, according to this article […]

Afternoon Edition

Afternoon Edition: Learning from down under and across the pond

You have heard me say many times that small funeral home operators can learn a lot from watching what the public companies are doing in the business.  I’m also of the opinion that those of us in North America can learn much from what our colleagues in Australia and Great Britain are doing. . .  .especially in that they seem to be ahead of their North American counterparts in how they service cremation client families in that ever growing segment […]