Service Corporation International, headquartered in Houston, Texas, recently acquired Weerts Funeral Home and Riverbend Cremation Service, a Generational Equity client. The deal closed on Feb. 1, 2017.
Founded in 1909, Weerts Funeral Home of Davenport, IA, was acquired from the Weerts family in 2005 by David Deuth. In 2012, Deuth added the services of Riverbend Cremation and Quad-Cities Pet Cremation, both in Bettendorf, IA, to the company.
Service Corporation International (SCI) is North America's leading funeral and cremation service provider, operating more than 1,500 funeral homes and 450 cemeteries.
SCI has retained Mr. Deuth, who was diagnosed with cancer in 2016, in a consultative role.
Generational Equity Managing Director Michael Goss and his team including Iowa affiliates Chris Barnard and Todd McGreevy, 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,” McGreevy said. “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.”
Read more on the acquisition here.
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