Complex sentence: In 1981, the funeral car business of Superior was sold to Tom Earnhart, and later that year, combined it with another manufacturer, forming a new company S&S/Superior of Ohio, Inc. to oversee the further development of the two businesses.
Split into simpler sentences: In 1981, the funeral car business of Superior was sold to Tom Earnhart. This formed a new company, S&S/Superior of Ohio, to oversee the further development of the two businesses.