Finance

Finance

Foundation Partners Group adds 18 locations

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 (FPG) where they announced that during the first seven months of the current calendar year they have purchased eight funeral service firms which operate a […]

Finance

Death Care investors lose over $4 billion in market value Year to date

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  performed individually for the period of July, August, and September. It’s anybody’s bet on what we will hear when the financial reports come out and […]

Finance

Service Corporation International opinion from Seeking Alpha

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 reduced discretionary spending, which is affecting the very cash and margin generative pre-need business and merchandise and services. Nonetheless, the pressures are quite small and […]

Finance Preneed

FDLIC acquires American Life and Annuity Company

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 release, “President and CEO of FDLIC Kris Seale and ALAC President Claude Holloway worked closely together to ensure a smooth transition process for both companies, […]

Finance

Propel Funeral Partners shows growth with 2022 Annual Report

Propel Funeral Partners, the public company that owns and operates funeral homes, cremation facilities, cemeteries, and related infrastructure in Australia and New Zealand, announced their Fiscal Year 2022 (FY22) results in late August, and did so by showing growth all across their reporting numbers. The company that began in 2012 with 278 funeral services reported 16,537 funeral services in FY22 which is an 18% increase over the 13,916 services conducted in FY2021.  The company that now has 144 locations also […]

Cremation Finance Preneed

SCI settles “Deceptive sales” lawsuit for $209 million

Service Corporation International (SCI) has agreed to provide up to $209 million in refunds to settle a federal class-action lawsuit alleging it deceived 87,000 Florida customers who purchased its prepaid plans according to this article from last week from Yahoo News. According to the article SCI Direct (formerly called Neptune Society Management Corporation) was named as co-defendant in the class-action suit originally filed by West Palm Beach senior Nancy Taylor in April 2020 in U.S. District Court in Fort Lauderdale. […]

Business Finance

Are funeral home’s values getting hit with a “Double Whammy”

A sale, or commerce if you will, occurs when a willing buyer and a willing seller reach agreement on a price for a good or service and then that price is paid from the buyer to the seller to mark the transaction.  While we don’t always think of it in that term, transactions like this happen millions of times every day. . . . from the purchase of grocery items, to the purchase of fuel, to the purchase of businesses. […]

Finance

Anthem Partners makes 19 location acquisition

We learned last week via this press release that Anthem Partners, the Frisco, Texas, based owner and operator of funeral homes and cemeteries had acquired Serenity & Company Memorial Service.  According to the press release, Serenity & Company began in 2007 in Arkansas, but has expanded and now operates in Arkansas, California, Nevada, and New Mexico. The press release also states that Serenity & Company operates nine funeral homes and 10 cemeteries. Steven McDonald, who was the Chief Operating Officer […]

Cremation Finance Preneed

Messenger acquires Thumbies; thoughts on the “new memorialization”

In this news release from Messenger News you can read about the Messenger Company and its acquisition of the Thumbies Fingerprint Keepsakes business.  The release states that “the new addition to the Messenger family of companies will allow the Messenger team of sales representatives to offer the complete line of Thumbies jewelry in their portfolio of products, supporting the needs of funeral home partners across the country”. Kevin Tkacz, President of Messenger, added this comment, “This acquisition allows Messenger to […]

Finance

StoneMor announces acquisition of Illinois funeral home

StoneMor Inc., the Pennsylvania based operator of funeral homes and cemeteries announced the acquisition of Anderson Funeral and Cremation Services of Belvidere, Illinois, last week.  According to this press release from StoneMor, company CEO Joe Redling said of the acquisition, “StoneMor’s acquisition of Anderson Funeral and Cremation Services is a valuable strategic move for us in the northern Illinois market.  Anderson Funeral and Cremation Services has been serving the families of northern Illinois for many years and is a deeply […]