Bullboard - Stock Discussion Forum Park Lawn Corp T.PLC

Consumer Cyclical Personal Services

Park Lawn Corporation is engaged in providing goods and services associated with the disposition and memorialization of human remains. The Company and its subsidiaries own and operate businesses, including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. Its primary products and services are cemetery lots, crypts, niches, monuments, caskets, urns and... see more

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TSX:PLC - Post Discussion

Park Lawn Corp > CIBC

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Post by retiredcf on Mar 31, 2022 8:23am

CIBC

EQUITY RESEARCH
March 30, 2022 Flash Research
PARK LAWN CORPORATION LIMITED

Growing Its Mississippi Footprint

PLC announced the small, on-strategy acquisition of Chancellor Funeral
Home and Garden of Memories, a family-run company owning one stand-
alone funeral home and one combination funeral home and cemetery in
Byram and Florence, Mississippi, respectively. The assets are expected to
add ~$US1.25MM (~C$1.6MM) of annual EBITDA. We estimate a deal value
of around C$10MM, to be financed with PLC’s existing liquidity. The deal
augments the current Mississippi footprint of 13 funeral homes and two
cemeteries, and is part of the company’s normal-course acquisition program
to build out market presence in existing regions. Deal closing is expected in
April 2022. Our estimates, $43.00 price target and Outperformer rating are all unchanged.

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