M&A · Industrials · Services-Personal Services
Axar Capital Management, LP to acquire Stonemor Inc.
Announced May 25, 2022 · Closed Nov 4, 2022
Deal value$415MEV $734M
Premium54.2%To unaffected price
EV / Adj. EBITDA—2.3x EV / Revenue
ConsiderationAll cash$3.50 per share
Transaction
- Acquirer
- Axar Capital Management, LP
- Target
- Stonemor Inc.
- Buyer type
- Private equity
- Offer price per share
- $3.50
- Enterprise value
- $734M
- Status
- Closed Nov 4, 2022
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- Go-shop
- Financing
- —
Advisors
- To the acquirer
- Houlihan Lokey
- To the target
- Kroll
Sector context · Industrials
- Comparable deals
- 68 in the prior 24 months
- Premium
- 54.2% vs. 47.0% sector median
- EV / Adj. EBITDA
- Sector median 11.1x
- Break fee
- Sector median 2.8%
Timeline
- AnnouncedMay 25, 2022
- Proxy filedAug 5, 2022
- Definitive proxySep 20, 2022
- Shareholder voteNov 1, 2022
- ClosedNov 4, 2022