Finance
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…
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…
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…
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…
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…
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…
Tom Kominsky, Chief Financial Officer at death care consolidator and operator Foundation Partners Group made this comment last week, “2022 marks a record year for deal velocity as more and more funeral business owners are choosing Foundation Partners Group as their partner of choice“. That statement came in this press release from Foundation Partners Group…
Last Friday’s calendar marked the end of the 3rd quarter of 2022 and with it the end of a quarter, and fiscal year for some, of the Funeral Director Daily Death Care Index (DCI) companies. It won’t be long and we will be hearing the financial reports from each of these companies and how they …
Last week the Valkyrie Trading Society wrote an article for Seeking Alpha entitled “Service Corporation International: Feeling minimal pressures”. You can access the article here. Here are three take-aways from that article: The themes are that COVID-19 pulled forward mortality, making 2020 and 2021 strong years for Service Corporation International. There is also commentary around…
We learned late last week in this press release that Funeral Directors Life Insurance Company (FDLIC) of Abilene, Texas, acquired the American Life and Annuity Company (ALAC) of Hot Springs, Arkansas. According to the press release “effective immediately, FDLIC will work to support existing ALAC policyholders and Arkansas funeral homes”. Again, according to the press…
