Why it matters: Propel Funeral Partners is Australia’s second-largest funerals group, with dozens of family-run brands across 183 locations.
It listed on the ASX in 2017 and says it has received multiple buyout proposals from potential suitors, but none have been compelling enough to warrant starting talks.
Australia’s largest funerals group, InvoCare, is set to disappear from the ASX next week when shareholders vote on a $1.8 billion buyout from private equity group TPG.
Australia’s second-largest funerals business, Propel Funeral Partners, has received “multiple” buyout proposals, but its board says none were compelling enough to start talks with any potential suitors.
Propel operates from 183 locations in Australia and New Zealand and owns a range of businesses with a strong presence in their local areas including Ross Funerals, Alfred James Funerals, Berry Funeral Directors, Millingtons, F.W Barnes & Son, and Gympie Funerals.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
