In a series of multiple simultaneous transactions, Woods Acquisition Group, LLC (WAG), an affiliate of Atlantic American’s Investment & Merchant Banking Group, acquired 28 operating entities from Alderwoods Group, Inc. (formerly NASDAQ: AWGI). WAG subsequently sold the acquired entities to various local and regional cemetery and funeral home operators in transactions valued at over $93 million.
Alderwoods, headquartered in Cincinnati, Ohio, was an operator 716 funeral homes, 130 cemeteries, and 61 combination funeral homes and cemeteries. With about 9,000 employees, Alderwoods was North America’s second largest provider of funeral and cemetery services, offering a full range of funeral services, including prearrangement, family consultation, the sale of caskets and related funeral items, traditional burial services and cremation services.
In November 2006, the remaining Alderwoods operations became a subsidiary of Service Corporation International (NYSE: SCI), North America’s largest provider of funeral and cemetery services.
For more information about Alderwoods, visit www.sci-corp.com.