Alicante ASV Group It is possible first Spanish funeral home to enter american market. The firm, headed by Guillermo Payá, announced this Thursday that it has acquired all shares of the company. Southern Cremations and Funerals, a company dedicated to funeral and burial services in the city’s metropolitan area Atlantain case of Georgia. It is an investment transaction. 24 million dollars, about 22 million euross at the current exchange rate.
Through this new American subsidiary, the company five cities of atlantisfor: Marietta, Fairburn, Covington, McDonough and Decatur. a project with Human team of 65 people and approximate turnover 10 million dollarsabout 9.2 million euros, according to the company.
According to the Alicante firm, with this acquisition, ASV lands with the intention of giving continuity to the United States. international expansion group that already exists. Germany and Colombia.
Southern Cremations & Funerals has its origins in the 1960s, something the Alicante firm valued positively for providing information, proven experience and stability in this first operation on US soil. The Spanish funeral home, for its part, plans to add to its trajectory and work for this American subsidiary as a benchmark for supporting grief in many countries.
“The entry to the USA is for us a new step in our international growth. Our presence in Colombia with growth and market leader in Germany, where we are the fifth operator in the country, is a true reflection of our desire to commit to steady but secure growth. We think this is a very different market to the rest of us so that we can learn very positive lessons and at the same time contribute our experience in psychological care to families going through the grieving process,” explains the firm’s CEO, William Paya.
Expansion
Grupo ASV started in 2014 internationalization processn Acquisition of the funeral services business owned by the North American group SCI Germany. Thus, it established itself in several of the most influential German cities and continued to expand its presence across the country with the participation of other funeral companies.
Three years later, he entered in 2017. colombian market acquired a significant stake in Grupo Recordar, the Colombian leader in the funeral, cemeteries and funeral services industry. Therefore, this new expansion to the United States represents an important step in the company’s internationalization strategy.
Grupo ASV is an organization of service companies associated with their business. medical transportation, insurance -by Meridian Insurance– and funeral services. It has 1,800 employees and has become one of the leading companies in the Spanish market, with close to 700,000 customers throughout the country and several million abroad.
According to the latest accounts deposited in the Commercial Register, the group achieved a turnover of 148 million euros in 2020, which is 2.7% more thanks to the good development of the funeral services division and to a lesser extent the insurance subsidiary. The firm closed the year with a profit of about eight million.