SCI Announces 70% Acquisition of Neptune Society

June 6, 2011
Advertisement

HOUSTON, June 3, 2011 — Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, today announced that it has acquired 70% of the outstanding shares of The Neptune Society, Inc. Neptune is the nation’s largest direct cremation organization, with annual revenues of more than $55 million and a network of 30 locations in nine states. Through an active preneed sales program, Neptune has built a backlog of future revenues of more than $125 million. Neptune operates under the brand names Neptune Society, Neptune Cremation Service and Trident Society.

Advertisement

Neptune’s owner, BG Capital Management Corp., a diversified private equity company, will continue to hold 30% of the outstanding shares, and the company will continue to be managed by its current Chief Executive Officer, Marco Markin.

“We look forward to welcoming Neptune’s associates into the SCI family of businesses,” said Thomas L. Ryan, SCI President and CEO. “This partnership is a wonderful opportunity for us to join forces with the largest and fastest growing direct cremation company in North America. Neptune serves a segment of the market that will continue to grow and that we do not currently target through our traditional funeral service and cemetery network. In addition to building on Neptune’s successful growth and customer service we will be able to yield immediate synergies by providing back office and fulfillment support through SCI’s infrastructure.”

Marco Markin, CEO of Neptune commented, “In our stage of rapid growth and development, it is the perfect time to partner with a company having SCI’s scale, resources and capital. Neptune is a great organization with fabulous employees and we are all excited to pursue the tremendous growth prospects ahead of us.”

About Service Corporation International

Service Corporation International (NYSE: SCI), headquartered in Houston, Texas, is North America’s leading provider of deathcare products and services. At March 31, 2011, we owned and operated 1,398 funeral homes and 381 cemeteries (of which 218 are combination locations) in 43 states, eight Canadian provinces, the District of Columbia and Puerto Rico. Through our businesses, we market the Dignity Memorial(R) brand which offers assurance of quality, value, caring service, and exceptional customer satisfaction. For more information about Service Corporation International, please visit our website at www.sci-corp.com. For more information about Dignity Memorial(R), please visit www.dignitymemorial.com.

Source

CDFuneralNews

CDFuneralNews

ConnectingDirectors.com is the leading online daily publication for funeral professionals with a reader base of over 45,000 of the most elite and forward-thinking professionals in the profession. With ConnectingDirectors.com we have created a global community through an online platform allowing funeral professionals to Stay Current. Stay Informed and Stay Elite.
CDFuneralNews
Advertisement

You may be interested

IS FACEBOOK NOW PAY-TO-PLAY? | DISRUPTu! 038
DISRUPTu
37 views
DISRUPTu
37 views

IS FACEBOOK NOW PAY-TO-PLAY? | DISRUPTu! 038

CDFuneralNews - February 5, 2018

Are you ready to fight...!? Ready to FIGHT those recent Facebook Newsfeed changes?! You're in luck with this week's brand…

Homesteaders Recognizes Account Executives for Outstanding Achievement
Funeral Industry Press Releases
79 views
Funeral Industry Press Releases
79 views

Homesteaders Recognizes Account Executives for Outstanding Achievement

CDFuneralNews - February 5, 2018

West Des Moines, Iowa — Homesteaders Life Company, a national leader in pre-need funeral funding, held its national sales meeting and recognition…

We are Building Something Exciting for You… and We Need Your Help!
News
189 views
News
189 views

We are Building Something Exciting for You… and We Need Your Help!

Justin Crowe - January 31, 2018

We want to make your deathcare job easier. Tell us what you want in this 2-minute survey and get entered to win $100! The Connecting Directors and Disrupt Media teams are excited to be planning some new free funeral home marketing content and products for you in 2018 and we want to know what you need most! We want to know your biggest business wins of 2017, the tasks in your day that you hate, and what you feel is holding you back!

Comments