Propel Funeral Partners plans to acquire three funeral service businesses based in Orange, New South Wales, and Levin and Taradale, New Zealand.
The expansion will introduce Propel into new regional markets and include purchasing the freehold property of a funeral home within the company's existing network.
The company also expanded its senior debt facilities. The acquisition costs about $10.6 million, which will be financed using the company's debt facilities.
The acquisition is expected to be completed by March 2024 and to be earnings accretive in its first year.