Livingstone advises Messenger Holdings on sale to PNC Riverarch Capital

Market-leading memorialization products company is set to reload on growth with its new partner
  • Feb 2022
  • Industrial
  • M&A: Sell-Side
  • US

Livingstone is pleased to announce the sale of Messenger Holdings, LLC (“Messenger” or the “Company”) to PNC Riverarch Capital (“Riverarch”). Deal terms were undisclosed.

Messenger, founded in 1913 and headquartered in Auburn, Indiana, is North America’s largest and most comprehensive provider of memorialization products, tech-enabled financial services, and technology solutions to funeral homes nationwide. The Company built its best-in-class reputation and unrivaled customer network over 100+ years as a manufacturer and marketer of memorial stationery, urns, and specialty consumer products, including jewelry and other keepsakes.

In recent years, Messenger leveraged its powerful distribution reach, brand equity, and industry relationships to broaden its product lines to include innovative technology and life insurance assignment solutions through the funeral home and cemetery specialty retail channel.

The funeral products industry is poised to continue its strong secular growth trajectory, and the Messenger team’s market position is uniquely suited to provide its customers and families with the best products and services in the industry,” asserted Andrew Isgrig, Partner at Livingstone.

PNC Riverarch Capital is a middle-market private equity firm. PNC Riverarch invests in market-leading companies where it can partner with management to support accelerated growth. PNC Riverarch is based in Pittsburgh and is the private equity affiliate of The PNC Financial Services Group.

We are proud to have represented the Messenger team for a second successful transaction, having previously advised the Company on its exit from Prairie Capital in 2015,” added Ryan Buckley, Partner at Livingstone.

Kirkland & Ellis LLP and Keating Muething & Klekamp PLL served as legal counsel while RSM US LLP provided transaction-related accounting services to Messenger. Dentons Cohen & Grigsby P.C. served as legal counsel and PricewaterhouseCoopers LLP provided transaction-related accounting services to Riverarch.

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