VIG Partners to acquire a majority stake in Preedlife.

VIG Partners, a Korean buyout fund is set to acquire a majority stake in Preedlife, a funeral service provider. Financial terms were not disclosed. The deal is expected to close during the third quarter of 2020 after receiving regulatory approvals by the buyout fund. “VIG believes, despite its robust profile of over 6m subscribers and cumulative advance payments of $4.6m, the domestic funeral service industry has been highly fragmented and markedly undervalued. Capitalizing on the acquisition of Preed and the eventual merger with Joun Life, VIG plans to further enhance customer perception and public trust towards the pre-paid funeral service business, thereby providing the necessary tailwinds to accelerate an industry-wide growth,” VIG Partners.