Propel Funeral Partners Limited (ASX:PFP) agreed to acquire I.C. Mark Ltd, Howard & Gannon Funerals Limited and Norman J Penhall Funerals for AUD 11.6 million on December 19, 2023. The consideration consists of AUD 11.50 million in cash and AUD 0.1 million in common equity and AUD 1 million will be payable if certain financial milestones are achieved during the years following completion. Propel Funeral Partners Limited (ASX:PFP) will fund this transaction from the debt facilities. The transaction is subject to customary conditions including due diligence, consent to assignment of key contracts and is expected to completed by March 31, 2024.

Propel Funeral Partners Limited (ASX:PFP) completed the acquisition of I.C. Mark Ltd, Howard & Gannon Funerals Limited and Norman J Penhall Funerals on January 23, 2024.