Australia’s No.2 funerals group, Propel Funeral Partners, has received ‘multiple’ buyout proposals but none have been compelling enough to start talks with suitors.
Propel Funeral Partners is Australia’s second-largest funerals group, with dozens of family-run brands across 183 locations.
Propel operates from 183 locations in Australia and New Zealand and owns a range of businesses which have a strong presence in their local areas including Ross Funerals, Alfred James Funerals, Berry Funeral Directors, Millingtons, F.W Barnes & Son, and Gympie Funerals., who set up its private equity unit seven years ago, had looked closely at Propel.
It operates from 183 locations across Australia and New Zealand, which include 37 crematoria facilities and 9 cemeteries. The group’s market share is estimated to be about 6 per cent.