North Carolina Funeral Home Sells to Investment Group

Statesville, NC – Nicholson Funeral Home was purchased on January 17, 2019 by NFH, Inc., a group of investors.

The Nicholson Funeral Home was founded in 1878 after the family began to make and sell caskets from several general stores that they operated throughout the region.  The Nicholson’s continued to sell caskets and conduct funerals in their furniture store when they moved to Statesville.  W.T. Nicholson moved the funeral home into its current location in 1920, and he remained its owner until his death in 1951.

The business was also owned by the Lonnie Turner family before eventually selling in 1983 to Joe and Pamela Troutman.    Joe Troutman and Pamela (Troutman) Strandburg, became the third family of owners in all of its 131 year history.   Mrs. Strandburg eventually acquired sole ownership and then in the last year hired The NewBridge Group to explore a sale.      The business performs approximately 450 calls annually and is the largest funeral home in the several county area.

NewBridge Group represented the Nicholson Funeral Home, first by doing a full analysis of the business operations and providing a valuation estimate.    And then by suggesting several possible buyers of the firm, after which approval was given to negotiate a possible sale to some of these prospective buyers.   Mrs. Strandburg eventually decided to select the NFH, Inc group, which also owns a couple other area funeral homes, as the best successor of the business.