Propel Funeral Partners Limited (ASX: PFP) share price continues to grow following its latest announcement that it has successfully completed an $80million institutional placement.
Albin Kurti, Managing Director of Propel said: “We believe this is the right time to further strengthen our balance sheet, as the Company seeks to continue to execute on its acquisition led growth strategy in what is a highly fragmented industry. The Placement will also provide an opportunity to broaden Propel’s share register and we are pleased to offer all existing eligible shareholders the ability to participate in the capital raising via the share purchase plan (SPP).
Propel intends to use the net proceeds of the Placement and the SPP to pay down debt to provide financial flexibility to pursue further growth initiatives, including acquisitions.
Who is Propel Funeral Partners
Propel Funeral Partners is now the second largest private provider of death care services in Australia and New Zealand. The company listed on the Australian Stock Exchange in late November 2017 as it sought to emulate InvoCare by buying up smaller family-owned funeral homes.
Propel Funeral Partners (PFP), an ASX-listed company, own funeral homes, cemeteries, crematoria and related assets in Queensland, New South Wales, Victoria, Tasmania, South Australia, Western Australia, the ACT and New Zealand. It provides a broad range of services and products across the death care industry services like Propel own funeral homes, cemeteries, crematoria and related assets in Australia and New Zealand.
Shop around and select an independent funeral director
Although most consumers will pick a funeral home brand based on expensive marketing campaigns, it pays to shop around. We wouldn’t consider buying a car or paying for a wedding without learning everything we can about the product or service. The same decision making process should also apply to funerals!
If local ownership and community involvement are important to you, you should ask who owns and operates the funeral home you are considering. By choosing to use the services of an independent funeral director you are selecting the help of a trusted professional – who can help you anywhere, anytime. They are not distracted or bound by corporate rules handed down from head office and shareholders but can be flexible and responsive to individual needs, providing a highly personal and compassionate service.
About eziFunerals
eziFunerals strives to empower consumers to make informed end-of-life decisions. eziFunerals Cradle2grave® approach supports consumers through the funeral process from advance care, and funeral planning, to matching individuals with the right funeral director at the right price.
We are an independent, Australian-owned and operated company. We are not a subsidiary of any other corporation. We are not part of any other funeral company.
Peter Erceg
Peter Erceg is the Owner and Founder of eziFunerals. He has had a long history within the funeral industry, and is a published author of ‘What Kind Of Funeral: A self help guide to planning a meaningful funeral’. Prior to eziFunerals, Peter worked in the public sector and health industry for more than 30 years. The views and opinions expressed on posts are those of the author and do not necessarily reflect the opinions of eziFunerals and members.
