DALLAS, Feb. 14, 2017 /PRNewswire/ -- Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Weerts Funeral Home, Inc., headquartered in Davenport, IA, and Riverbend Cremation Service, LLC, in Bettendorf, IA, to Service Corporation International, headquartered in Houston, TX. The acquisition closed February 1, 2017. Details were not disclosed.
Weerts Funeral Home was founded in 1909 and had been acquired from the Weerts family in 2005 by David Deuth. In 2012, Deuth added the services of Riverbend Cremation and Quad-Cities Pet Cremation companies, both in Bettendorf, IA. All 12 employees are expected to remain with the company.
Mr. Deuth, who was diagnosed with cancer in 2016 has been retained in a consultative role by Service Corporation International (SCI). "[My wife] Linda and I have decided and agreed that the restoration of my health must be my singular focus and my number one priority," said Mr. Deuth.
SCI welcomed Weerts Funeral Home and its cremation services companies to SCI. "We are very excited to have the Weerts' high standards, tradition and team join our company, and we look forward to their continued success in the Quad Cities," said Bill O'Brien, SCI's managing director.
Service Corporation International is North America's largest funeral and cremation service provider. SCI operates more than 1,500 funeral homes and 450 cemeteries in 44 states, the District of Columbia, Puerto Rico and eight Canadian provinces.
Generational Equity Managing Director Michael Goss and his team, headed by trusted Iowa affiliates Chris Barnard and Todd McGreevy of Marigold Resources, and Generational Equity Vice President Luan Ly, led the deal to a successful close.
"When you have a buyer who listens, like the acquisition team at SCI did, our client, Mr. Deuth, and his loyal staff's concerns were addressed effectively and quickly," said Mr. McGreevy. "We were fortunate to have been on our client's deal team during such an important time in his life, and he remains in our prayers for a speedy recovery."
About Generational Equity
Generational Equity, part of the Generational Group headquartered in Dallas with over 200 professionals located throughout North America, helps business owners release the wealth of their business by providing merger, acquisition and strategic growth advisory services. Their four-step approach features M&A education, financial analysis and reporting, sales documentation and deal-making. The M&A Advisor recently named the company its 2016 Investment Banking Firm of the Year. For more, visit www.genequityco.com and the Generational Equity press room.
For more information:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/generational-equity-announces-sale-of-weerts-funeral-home-to-service-corporation-international-300405447.html
SOURCE Generational Equity