Finance
Last week death care property owner and operator StoneMor announced, in this press release, that they had completed their merger with Axar Capital Management whereby StoneMor will become a private and wholly owned subsidiary of Axar Capital Management. Prior to this “take private” movement, which was announced in this May 25, 2022, press release, Axar…
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North America’s largest business in the death care industry, Service Corporation International (SCI) reported their 3rd Quarter 2022 financial results earlier this week. The results show a decline of about 5.5% in total revenues for the quarter as compared to the same quarter of 2021. The 3Q 2022 revenue number was $977.7 million as compared…
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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…
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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,…
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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.…
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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…
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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…
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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…
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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…
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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…
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