Livingstone Completes US Deathcare Deal
The Industrial sector team at Livingstone has advised the shareholders of Aurora Casket Company, Inc on its acquisition by private equity firm Kohlberg & Company, L.L.C. Terms of the deal were not disclosed.
Aurora is the largest independent manufacturer, marketer, and distributor of funeral products in the US. The Company complements its core offering of metal and hardwood caskets with a broad offering of cremation caskets, urns, memorial statuary, grave markers, and other funeral supplies and services. This comprehensive solution delivers a compelling value proposition that increases revenue, enhances profitability, and improves the client experience for Aurora’s funeral service customers.
Aurora board member Jerry Reichert commented: “Over its 120-plus year history, Aurora has focused exclusively on providing the highest quality products and services to its customers. Aurora is excited to partner with such a well-respected institution that is equally committed to funeral service and our purpose of helping to create an honourable closure to every life.”
“The partnership between Aurora and Kohlberg creates a powerful force in the funeral products industry,” added Andy Isgrig, Head of the Industrial sector team at Livingstone Chicago. “Aurora is well positioned to continue its market share growth in the industry.”
Kohlberg is a leading US private equity firm which acquires mid-market companies. Since its inception in 1987, the investor has raised $3.7 billion of committed capital and completed 57 platform investments and 112 add-on acquisitions, with an aggregate transaction value of approximately $8 billion.
Partner at Livingstone London Simon Cope-Thompson concluded: “The Aurora deal is an excellent example of the keen interest among private equity investors in successful, service-oriented manufacturing businesses with strong positions in well-defined niche markets. Aurora is Livingstone’s 20th completed deal in 2012, with 10 involving sales to private equity investors.”