Finance

Finance

Foundation Partners Group purchases Solace. . . extends Direct-to-Consumer digital cremation services

In this press release from PR Newswire you can read about Orlando based Foundation Partners Group and its acquisition of Solace Cremation, the Portland, Oregon, based direct-to-consumer cremation services business.  Solace operates in the Oregon, California, and Florida markets at this time.  The purchase will allow, according to the release, Foundation Partners Group to have geographic proximity to offer digital cremation arrangements and services to nearly 50 million American households. Foundation Partners Group (FPG) is rapidly ramping up their digital platform.  […]

Finance

Carriage Services acquires North Carolina funeral homes and cemetery

It was announced last week in this press release that Carriage Services, headquartered in Houston, Texas, acquired substantially all of the assets of the Heritage Funeral and Cremation Services and Forest Lawn East Cemetery.  The businesses are located in the Charlotte, North Carolina, market territory and consist of three stand alone funeral homes, a cemetery, and a cremation focused business. Steve Metzger, Executive Vice President and Chief Administrative Officer of Carriage Services said this about the acquisitions, “. . .The […]

Finance

Carriage Services reports 3Q 2022 Financial Results: Lower Numbers

Of the seven companies that comprise the Funeral Director Daily Death Care Index (DCI) Carriage Services was the first company to report earnings for the 3rd Quarter of 2022 and did so Wednesday. Carriage Services, based in Houston, Texas, reported lower comparable numbers in almost every category compared to the same period in 2021. For instance: Total Revenue for the 3rd Quarter was listed as $87.4 million as compared to the 3rd Quarter of 2021 when Total Revenue was reported […]

Finance

InvoCare makes investment, partners with Parting Stone

It was recently announced by Parting Stone, the company that pioneered solidified remains, and InvoCare, Australia’s leading death care provider, that InvoCare has invested $1 million in Parting Stone.  In addition, the two companies will partner to launch Parting Stone Australia, which will be Parting Stone’s first international laboratory. Justin Crowe, founder and Chief Executive at Parting Stone said this about the development, ““We cannot think of a better partner at this stage in our growth.  Working with InvoCare’s team […]

Finance

StoneMor/Axar Capital transaction recommended by shareholder agency

Earlier this week according to this press release the Institutional Shareholder Services (ISS) recommended that shareholders of StoneMor vote “FOR” the pending transaction with a subsidiary of Axar Capital Management LP.  That vote, which would take StoneMor to a private company status, is scheduled for a special stockholders meeting on November 1, 2022. Among other reasons, ISS noted the following for current StoneMor shareholders: “The merger consideration is above the estimated values of the fairness opinion….The merger consideration represents a […]

Finance

Park Lawn announces another acquisition

  Just yesterday we learned that Park Lawn Corporation announced the acquisition of the assets of Muehlebach Funeral Care, Skradski-Pierce Funeral Home, and Assurance Cremation Society.  All are located in Kansas City, Missouri. The acquisition of the three firms will add approximately 627 calls and $616,000 in adjusted EBITDA annually to Park Lawn Corporation’s financial resources according to this press release from Park Lawn Corporation. Here’s what Park Lawn CEO J. Bradley Green said about the transaction, “We are pleased […]

Business Finance

The great shift at Dignity plc

There is no doubt that the establishment of the company Pure Cremation (company website here) and its business of what they call “no-fuss” direct cremation is making an impact on the death care business in Great Britain.  Launched in 2015 as a low-cost provider of cremation services, the company is changing how some death care competitors do business. Dignity plc, is the county’s largest death care provider with, as of July 1, 2022, 756 funeral locations across the United Kingdom.  […]

Finance

Foundation Partners Group becomes Wisconsin’s largest death care provider

According to this press release from Foundation Partners Group, the acquisition of Krause Funeral Homes & Cremation Services of Milwaukee, Wisconsin, will allow Foundation Partners Group (FPG) to become the largest funeral service provider in Wisconsin. Mark Krause, president of Krause Funeral Homes & Cremation Service, Inc. has agreed to sell his firm to the company and join FPG as vice president of industry relations and government affairs.  Over the last 40 years, Krause has built an innovative portfolio of […]

Finance

Park Lawn adds three Colorado firms to its business

We learned last week that Park Lawn Corporation, the publicly traded funeral home and cemetery company, added three firms located in Colorado to its group of locations.  In this press release you can learn about the acquisition of Ertel Funeral Home and Crematory, Taylor Funeral Home, and Brown’s Cremation and Funeral Service. Park Lawn Corporation announced in the press release that these businesses represent five stand-alone funeral facilities and one on-site fuenral home and cemetery.  They also announced that the […]

Business Finance

Private equity continues move into Death Care

It’s not surprising to see why in a world of 73 million baby boomers and a large group of funeral home owners planning to retire in the next five years that private equity businesses see an opportunity in Death Care, specifically in owning funeral homes. This article from Fortune entitled “Death is anything but a dying business as private equity cashes in on the $23 billion funeral home industry” has prompted a lot of discussion, and some angst, among funeral […]