Propel Funeral Partners

What Propel Funeral Partners does

Propel Funeral Partners Limited (ASX: PFP) is the second largest private provider of death care services in Australia and New Zealand, founded in 2012 and listed on the ASX in 2017. The company owns and operates a portfolio of over 200 funeral homes, cemeteries, crematoria and related assets across Queensland, New South Wales, Victoria, Tasmania, South Australia, Western Australia, the Australian Capital Territory and New Zealand, employing more than 1,000 staff. Many of the funeral homes in the portfolio have been operating since the late 1800s and early 1900s, and the company operates a decentralised model that preserves local brand identity and goodwill.

The company generates revenue through one-time death care service fees for collection and transfer of the deceased, mortuary services, arranging and conducting funerals, cremation, burial and memorialisation, sold directly to individual bereaved families at its physical locations. Funeral service pricing is quote-based and not publicly disclosed. The go-to-market model is acquisition-led consolidation of the highly fragmented ANZ death care industry, targeting succession-motivated vendors and adding bolt-on locations while maintaining the local brands and operating autonomy of acquired businesses.

Propel is co-led by Co-CEOs Fraser Henderson and Lilli Rayner, who co-founded the business and transitioned into the joint CEO roles in 2025, with Arash Noaeen as Chief Financial Officer and Naomi Edwards as Chair. The company is headquartered in Sydney and refinanced its debt facilities with Westpac in February 2026, extending maturity to October 2029 and adding a new A$50 million accordion facility at a 2x pro forma net leverage ratio, supporting continued acquisition activity.

Name

Propel Funeral Partners

Legal name

Propel Funeral Partners Limited

Website

https://propelfuneralpartners.com.au

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Propel Funeral Partners (ASX: PFP) is the second largest private death care services provider in Australia and New Zealand, operating over 200 owned funeral homes, cemeteries and crematoria serving individual bereaved families across seven Australian states/territories and New Zealand.

Ownership category

akta.pro rank

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Revenue model

1. Death care services: Revenue generated from funeral services, cemetery operations, and crematoria services. The company owns funeral homes, cemeteries, crematoria and related assets across Australia and New Zealand. Services include collection and transfer of the deceased, mortuary services, arranging and conducting funerals, cremation, burial and memorialisation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Propel Funeral Partners owns and operates funeral homes, cemeteries, crematoria and related assets across Australia and New Zealand. Its core offerings include collection and transfer of the deceased, mortuary services, arranging and conducting funerals, cremation, burial and memorialisation services delivered directly to bereaved families at over 200 physical locations.

Product overview

Propel Funeral Partners operates as a unified death care services platform offering funeral homes, cemeteries, crematoria, and related assets across Australia and New Zealand. The company operates over 200 locations spanning Queensland, New South Wales, Victoria, Tasmania, South Australia, Western Australia, ACT, and New Zealand, employing over 1,000 staff. Many funeral homes have operated since the late 1800s and early 1900s. The company consolidates the fragmented death care industry through acquisition and network management, providing succession solutions for vendors while maintaining local brand identities.

Differentiator

Problem solved

Functional benefit

Products and services

• Funeral Homes Owned funeral homes providing funeral arrangement, conducting, and related services to families dealing with death and bereavement across Australia and New Zealand.
• Cemeteries Cemetery assets owned by Propel for burial services and memorialisation across Australia and New Zealand.
• Crematoria Cremation facilities and related memorialisation services owned and operated by Propel across Australia and New Zealand.
• Mortuary Services Collection and transfer of the deceased, and mortuary services supporting the death care process for families and funeral service providers.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor.

• Evans Funeral ServicesminorOthers · 4 June 2026Propel Funeral Partners agreed to acquire Evans Funeral Services (including Gisborne Tairawhiti Cremation Services) in New Zealand for A$9.1 million total consideration.
• Leishman Funeral ServicesminorOthers · 4 June 2026Propel Funeral Partners agreed to acquire Leishman Funeral Services in Balclutha, New Zealand as part of a three-acquisition deal totalling A$9.1 million.
• Collingwood Funeral HomeminorOthers · 4 June 2026Propel Funeral Partners agreed to acquire Collingwood Funeral Home in Rotorua, New Zealand as part of a three-acquisition deal totalling A$9.1 million.
• MUFG Corporate Markets (AU) LimitedminorOthersMUFG Corporate Markets (AU) Limited maintains the Propel Funeral Partners share register. Shareholders can contact MUFG for information about their security holding, SRN/HIN verification, and access the investor centre for updates.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Carriage Services: Carriage Services is a US death care provider combining funeral homes and cemeteries; its small-to-mid-cap public profile and acquisition-led growth model are comparable to Propel's structure.
• StoneMor Partners: StoneMor operates cemeteries and funeral homes in the US, sharing Propel's multi-site cemetery and funeral combination, though it is more cemetery-weighted than Propel.
• Dignity plc: Dignity is a UK-listed funeral services operator with a similar focus on traditional funeral and cremation services, providing a relevant public-market comparable for Propel despite its UK geography.
• Service Corporation International: SCI is the largest publicly listed funeral, cemetery, and cremation operator globally; it benchmarks Propel's vertically integrated, multi-location death care platform model despite operating primarily in North America.

Emerging players

• Matthews International: Matthews International operates memorialisation products alongside funeral services; its death care adjacencies (memorial products, cremation equipment) overlap with Propel's crematoria and cemetery operations.
• Foundation Partners Group: Foundation Partners Group is a US private funeral home and cemetery operator built via acquisition roll-up, making it a relevant strategic peer for Propel's acquisition-led growth model.

Direct peers

• InvoCare: InvoCare is Australia's largest private funeral, cemetery, and cremation operator and Propel's direct competitor in the ANZ death care market, operating similar end-to-end services with comparable scale and acquisition strategy.

Regional players

• Tobin Brothers Funerals: Tobin Brothers is a family-owned Victorian funeral operator with multi-location presence in Australia; it is comparable to Propel as a regional Australian death care consolidator, though smaller in scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/propel-funeral-partners-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Propel Funeral Partners