Finance

Cremation Finance

Solace cremation company raises $1.745 million in seed funding

“One flat price. $895. No Surprises.” That’s how direct cremation provider Solace describes themselves on their web-site.  And now, according to this article in Geekwire,  they have some cash behind them to spread that narrative about their company. Geekwire mentioned earlier this month that Solace has closed an oversubscribed funding round of $1.745 million with Portland, Oregon, based Rogue Venture Partners as lead and participation by Cascade Seed Fund of Bend, Oregon, and Alliance of Angels of Seattle, Washington. The […]

Finance

Foundation Partners keeps acquisition train rolling along

Only about ten days removed from announcing the acquisition of a funeral home in northeast Minnesota, Foundation Partners Group made another announcement at the end of last week.  The press release goes on to say that Foundation Partners Group, the private equity backed funeral home and cemetery consolidator and operator, has reached an agreement to acquire The Springs Funeral Services of Colorado Springs, Colorado. The announcement goes on to say that with these two new locations, Foundation Partners will now […]

Finance

Funeral stocks continue solid climb

As of last Friday, June 4, we were over five months into the 2021 calendar year.  Funeral Director Daily decided it was time to take a look at where the Death Care stocks were in relation to the stock market indices up to that day. What we found out is that the stocks of companies that comprise the Funeral Director Daily Death Care Index (DCI) continue to show a positive movement — and even higher growth than the indices of […]

Finance

Foundation Partners Group adds to Minnesota locations

It was announced last week in this press release that Orlando, Florida based Foundation Partners Group has acquired the Atkins-Northland Funeral Home & Cremation Service located in Cloquet, Minnesota.  According to the press release, this addition brings the Foundation Partner Group count in Minnesota to six locations. Again, according to the release, the acquired funeral home began in 1936 as the Northland Cooperative Burial Association and operated as an association until taken private in 2009 by Bob and Karen Atkins.  […]

Finance Preneed

Is SCI’s value in their “float”?

I’m a fan of Warren Buffett and his company, Berkshire Hathaway.  Matter of fact, I enjoy reading his annual shareholder letter because it just doesn’t tell how his businesses are doing, it explains to the reader why he is in those businesses and how he makes money for his shareholders. Back in 1936 a gentleman by the name of Leo Goodwin from Washington, D.C., became convinced that auto insurance could be standardized and sold without agents to the general public.  […]

Business Finance

InvoCare talks of strategy reset

My own historical family businesses are a perfect example of the evolution of a business to fit the consumer and stay relevant.  Back in 1872 my great-grandfather arrived in the New World with a skill as a cabinet maker.  He set up shop and when people died family members approached him about building a coffin for the deceased.  The cabinet business evolved into two businesses, a furniture store and a full service funeral home.  As time went on, we became […]

Finance

Security National keeps growing revenues

Security National Financial Corporation (SNFC) continues to reel in the revenue in each of their three divisions according to this press release from mid-May containing their 1st Quarter 2020 results.  The Utah based company conducts business in the death care field both in the financial services realm and the funeral and cemetery services realm. In the financial services sector SNFC is involved with preneed funeral insurance and insurance assignment business with participating funeral homes.  They also conduct business with their […]

Finance

StoneMor CEO Joe Redling: “We’re targeting. . acquisitions of both cemeteries and funeral homes in our existing markets”

StoneMor, Inc. released its 1st Quarter financial results on May 13 and with it announced that they had completed their private offering of $400 million in Senior Notes.  There seems to be no doubt that the refinancing and operational results reported in the May 13 report have lifted the spirits of the company. Here’s what CEO Joe Redling said in the 1Q 2021 report, “Earlier this week, we completed a transformational transaction for the Company by fortifying our balance sheet […]

Finance

Park Lawn’s CEO Brad Green comments on the labor market, acquisitions, preneed, and revenue per case

Park Lawn Corporation (PLC), the Toronto based funeral home and cemetery operator released First Quarter 2021 results last week.  As expected the results were very strong as deaths from the pandemic in those months, especially January, continued to be high.  Park Lawn Corporation’s net revenue grew about 26% to over $89 million for the quarter. Probably more interesting, however, was CEO Brad Green’s comments on the labor market, acquisitions, preneed, and revenue per case.  In the press release from PLC, […]

Finance

Batesville shows another strong quarter

Batesville, a division of Hillenbrand Industries, reported their Fiscal Year 2nd Quarter during the first week of May.  While the entire company revenue increased 11% year over year, Batesville, the funeral service side of the business, increased their revenue by over 20% to a quarterly volume of $166 million. Here’s what was said in the FY 2Q 2021 report about the Batesville segment of Hillenbrand Industries: “Revenue of $166 million increased 20% year over year driven by an increase in […]