Preedlife Acquisition & Valuation

Preedlife was acquired by Woongjin for $653M in June 2025, a 3.2x multiple on $203M of revenue.

Preedlife acquisition price

$653M

Acquired by Woongjin · Jun 2025

Preedlife revenue at acquisition

$203M

Last twelve months · Jun 2025

Preedlife revenue multiple at acquisition

3.2x

EV/Revenue · Jun 2025

Key investors in Preedlife

  • Mastern Partners

Preedlife Overview

About Preedlife

Preedlife is a funeral service provider operating in South Korea via m.preedlife.com, offering end-of-life care and memorial services.


Founded

2002

HQ

South KoreaSeoul

Status

Acquired

Customer focus

B2C

Revenue model

Services

Revenue

$203M (Jun 2025)

Valuation

$653M (acquired Jun 2025)

Preedlife Acquisition

Preedlife was acquired by Woongjin for $653M on 16 June 2025.

The acquisition price implies a 3.2x revenue multiple on $203M of revenue.

Preed Life, Korea's largest funeral service provider and leader in the mutual aid industry, offers funeral arrangements, weddings, cruises, and senior care services, with 2.3 million subscribers and KRW 2.6 trillion in advance payments as of 2024, up from 1.4 million subscribers and KRW 1.3 trillion in 2020, alongside revenue growth from KRW 73.5 billion to KRW 276.7 billion and operating profit of KRW 98.5 billion in 2024. Woongjin Co Ltd, a chaebol group focused on education, publishing, IT, leisure, finance, healthcare, and elderly care through subsidiaries like Woongjin Thinkbig, acquired 99.77% of Preed Life from private equity firm VIG Partners. The deal, structured as a leveraged buyout via subsidiary WJ Life Holdings, was announced on April 29, 2025, after Woongjin secured exclusive negotiation rights on February 17 and completed five weeks of due diligence. The acquisition price totaled 883-887.9 billion won (approximately $649.6 million), with a 10% down payment of 88.3 billion won paid upfront and the balance due by end of May 2025; funding included about 500 billion won from acquisition financing by DB Securities and Woori Bank, plus mezzanine instruments like perpetual bonds, convertible bonds, and redeemable convertible preferred stocks. Finalized after six months of due diligence and Korea Fair Trade Commission approval, the transaction closed in mid-2025, marking Woongjin's entry as the first chaebol into the funeral sector amid Korea's aging population. Post-acquisition, Preed Life rebranded to Woongjin Preed Life in July 2025, committing to employment continuity, cultural integration, and synergies with Woongjin's nationwide network, membership, education, content, and IT capabilities to build a total life care platform spanning life stages. Strategically, the deal supports Woongjin's vision of becoming a comprehensive life care company by linking funeral services with education, healthcare, welfare, and senior care, leveraging Preed Life's market leadership in a fragmented industry consolidated under VIG Partners for reliable cash flows from demographic trends.

Preedlife acquisition details
AcquirerDateTypePriceEV/Revenue
16 Jun 2025Strategic M&A$653M3.2x

Preedlife Funding History

Preedlife has 1 recorded secondary share sale and no primary funding rounds.

Preedlife funding rounds

Preedlife funding rounds
DateStageInvestorsRaised
Sep 2021SecondaryMastern Partners (lead)$43M

Who has invested in Preedlife?

1 investor has backed Preedlife across its funding rounds, including Mastern Partners.

Lead investors include Mastern Partners.


Preedlife Investors

Investors in Preedlife by funding rounds participated
InvestorHQRoundsRoleFirst check

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Preedlife Competitors

Preedlife competitors include listed companies like Musti Group, XPS Pensions Group and CEWE Group, and private ones like Jane Software, Booksy and Squire.

Public and private companies comparable to Preedlife
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Jane SoftwareCanadaVancouverPrivate$100M-$600M6.0x
BooksyPolandWarsawPrivate--$580M-
SquireUnited StatesNew York City, NYPrivate$15M-$750M50.0x
Musti GroupFinlandFinlandPublicly listed$586M$67M$561M-
XPS Pensions GroupUnited KingdomUnited KingdomPublicly listed$353M$80M$819M2.5x
CEWE GroupGermanyGermanyPublicly listed$1B$160M$835M0.9x

Preedlife Public Comps

Preedlife is no longer listed, but its public comps include Musti Group, Carriage Services, XPS Pensions Group, CEWE Group, Mears Group, Andrews Sykes Group, Propel Funeral Partners, IBJ Inc., Skinkandy and Kamakura Shinsho.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Musti Group$586M$67M1.4x-12.4x-
Carriage Services$417M$124M2.5x2.4x8.3x7.7x
XPS Pensions Group$353M$80M2.6x2.5x11.3x8.7x
CEWE Group$1B$160M0.8x0.9x5.3x5.3x
Mears Group$1.5B$209M0.5x0.5x3.6x4.3x
Andrews Sykes Group$103M$44M2.8x-6.6x-
Propel Funeral Partners$160M$38M2.5x2.5x10.7x10.1x
IBJ Inc.$130M$27M1.8x1.4x8.9x-

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Common questions about Preedlife

When was Preedlife founded?Preedlife was founded in 2002.
Where is Preedlife headquartered?Preedlife is headquartered in Seoul, South Korea.
Is Preedlife publicly listed?No, Preedlife was acquired by Woongjin in June 2025.
Who acquired Preedlife?Preedlife was acquired by Woongjin in June 2025.
How much was Preedlife acquired for?Preedlife was acquired for $653M in June 2025, a 3.2x revenue multiple.
Who are Preedlife's investors?Preedlife's investors include Mastern Partners.
Which companies are comparable to Preedlife?Companies comparable to Preedlife include Jane Software, Booksy, Squire, Musti Group, XPS Pensions Group and CEWE Group.

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