Homesteaders finalizes investment in Park Lawn

Homesteaders Life and Birch Hill Equity Partners have closed on a capital investment to transition Park Lawn Corp. to private ownership.

The Canadian-based funeral and cemetery company and their management team will continue to operate their businesses across the US and Canada, but Park Lawn will cease to be publicly traded on the Toronto Stock Exchange.

In June, Park Lawn CEO Brad Green notified shareholders of a proposal to purchase the company’s outstanding shares and convert to private ownership. Shareholders overwhelmingly voted to approve the plan of arrangement at a special meeting in late July, paving the way for the transaction to close last week.

“An investment in Park Lawn gives us a path to continue to infuse critical capital into the profession at a time when it is difficult for operators to find reliable and knowledgeable financing partners. It deepens our commitment to the funeral profession in a significant way and provides attractive returns that we can reinvest in higher policy growth and new tools for our existing and future customers. We have already committed $250 million to funeral home partners through our lending program. No other preneed provider can match the financial commitment Homesteaders has and continues to make to secure the future success of the funeral profession and in support of private ownership.” – Steve Shaffer, Homesteaders President, CEO and Board Chair.

“Like Park Lawn, Homesteaders’ commitment to the profession is deeply embedded in their operations and culture which makes them a very attractive long-term partner for us. Homesteaders shares our values, understands our business and is committed to serving families for the long term.” – Brad Green, Park Lawn CEO.