Park Lawn Corp. announced that it has acquired the assets of Forrest & Taylor Funeral Home Limited, a standalone funeral home business in Sutton, Ontario (pictured at top).
“Since Forrest & Taylor began in the late 1880s, we have had the privilege of serving the families of Sutton and its surrounding communities. Through our partnership with Park Lawn, we are excited to be able to continue providing an unparalleled level of service with the tradition that began over a century ago,” said Greg and Carole Forrest, former owners of Forrest & Taylor.
J. Bradley Green, chief executive officer of PLC stated, “We are pleased to continue building our strong operating position in the growing market north of Toronto through the acquisition of Forrest & Taylor, and we look forward to welcoming the Forrest & Taylor team into the Park Lawn family.”
Highlights of the transaction include:
- PLC further deepening its presence in Ontario by adding one standalone funeral home in Sutton, Ontario
- Forrest & Taylor performs approximately 158 calls per year and was financed with cash on hand and funds from PLC’s credit facility.
- The Forrest & Taylor acquisition is expected to add approximately CAD$338,647 in Adjusted EBITDA annually.
- The agreed upon purchase price multiple is within PLC’s publicly-stated targeted EBITDA multiple range for transactions of this nature.