Finance
A relatively new death tech app, Empathy, recently raised $30 million in Series A funding according to this article from Tech Crunch. The product is designed to help bereaving families navigate the choppy waters that result when a family member or someone close to them dies. “Empathy is a customer-centric company with compassion at our…
It was announced last Friday that Park Lawn Corporation had acquired the Malcolm, Deavitt & Binhammer Funeral Home Limited. The one building standalone funeral home is located in Pembroke, Ontario. The funeral home, according to this press release from Park Lawn Corporation, “performs approximately 153 calls per year.” Here’s what J. Bradley Green, Chief Executive…
As you can see from this Yahoo Finance article, Axar Capital Management has sent StoneMor Inc. a letter expressing “an interest in pursuing discussions concerning strategic alternatives that may be beneficial to the Company and its various stakeholders.” As you may know, and according to E-Trade, Axar Capital Management currently owns 88.6 million of the 118…
In today’s Afternoon Edition we bring you some items of interest from our friends at Johnson Consulting Group, Clifton Larson Allen, and the National Funeral Directors Association. From Johnson Consulting it is things to know about taxes. . . From CLA it is how you can turn challenges into opportunities. . .and from our friends…
InvoCare, the largest public purveyor of death care services in Australia, reported their first half year results for 2021 recently. The earnings call transcript, which you can access here, also gave some glimpses into the future of funeral service companies, at least in Australia. As you may know, Australia has had a severe lockdown during…
Across the Atlantic Ocean we have learned that Co-operative Funeral Care in Great Britain has reached agreement to purchase the funeral and preneed related businesses of Midcounties Co-op funerals. The number reported in this article states that Co-op Funeral Care will acquire 50 funeral homes and 2 vehicle logistic sites from Midcounties. The transaction will…
Seeking Alpha recently penned an article about death care public company Carriage Services entitled, “An Under Appreciated Performer in the Death Care Industry”. You can access that article here. Here’s a few quotes from the article: Carriage Services operates in the attractive death care industry, operating 171 funeral homes and 32 cemeteries in the United…
Security National Financial Corporation of Utah revealed their 2nd Quarter 2021 financial numbers earlier this month. Total revenues for the entire company were actually down about 2% overall as their Mortgage Division saw an overall 8% decline in revenues as compared to the same quarter of 2020. However, the company’s Life Insurance division, which included…
Online memorials seem to be one of the likeliest winners among potential start-ups in the Death Care space. . . . at least that is what it is looking like from the investment community. According to articles that we link below it appears that over the summer months the Australian based Memories has raised over…
Park Lawn Corporation, the Toronto, Ontario based funeral home and cemetery consolidator and operator announced 2nd Quarter financial results earlier this month. For the company, revenue increased 8.5% to $88.4 million (US $68.9 m) from last year’s 2nd Quarter revenues of $81.5 million (US $63.59 m). Adjusted EBITDA increased for the same time period to…
