Inside THE DEAL
STNL A DV I S O R S & G ARNE T T STATI O N PA RT N ER S
Sale-Leaseback Gives Life to Innovative Investment in Funeral Homes
Ben Franklin’s oft-cited saying that there is nothing certain in life except death and taxes holds true for Garnett Station Partners, a private equity firm that saw potential in funeral homes—especially those with real estate assets—as a stable and successful investment. To transact in this niche industry, the firm turned to STNL Advisors, a real estate consultancy that helped Garnett craft a solution to the 26 middlemarketgrowth.org
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challenging issue of how to finance its initial acquisition of 26 funeral homes. It wasn’t the first time that Garnett had used STNL’s services. “They really have been strategic partners with us for the last eight years,” says Alex Sloane, managing partner and co-founder of Garnett. “They advise us on every single deal we do. We don’t do a deal without their blessing, support and counsel.” When helping its clients fashion and
find value in their investments, STNL specializes in out-of-the-box thinking and creative approaches. In the case of the funeral home investments, Garnett sought STNL’s help to utilize a technique known as sale-leaseback, which was crucial to funding the purchase. Sale-leaseback is a financial transaction in which the owner of an asset, in this case real estate, sells it and then leases it back from the new
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9/20/21 12:01 PM
