Propel Funeral Partners (ASX:PFP), Australia's second-largest funeral services provider, is held by Lennox Capital Partners despite recent earnings downgrades. In June 2026, Lennox said that despite a share price fall after consensus earnings expectations were revised down, it retains conviction in Propel as the clear number two operator in the Australian and New Zealand death care industry. Propel Funeral Partners operates in the Consumer Discretionary sector within the Diversified Consumer Services industry, and Thesis Tracker has captured 4 comments from 3 fund managers, including Lennox Capital Partners. Founded in 2012 by Fraser Henderson, Peter Dowding and Albin Kurti and headquartered in Sydney, Propel owns and operates funeral homes, crematoria and cemeteries across Australia and New Zealand, growing through acquisitions of independent funeral businesses and benefiting from long-term demographic growth in death volumes as the population ages, along with pricing that has historically kept pace with inflation.