In a press release last week that we caught on Globe Newswire and you can read here, StoneMor Partners has, according to the press release, added depth to their operational management.

The release highlights the hiring of four veterans who have experience in the death care industry in cemetery, funeral home, acquisition, and management roles.  Previous employment by these hires included stints at Foundation Partners, Service Corporation International, Stewart Enterprises, CMS, Matthews International, and NorthStar Memorial Group.

A quote in the release attributed to Joe Redling, StoneMor’s CEO was, “We’re delighted to welcome these four executives to the StoneMor team.  As we recently announced, StoneMor has moved to a decentralized operating structure based on three regional divisions and a general manager model.  These individuals will play key roles as we drive improvements in accountability, efficiency, and overall profitability.”

Funeral Director Daily take:  As we have followed, StoneMor Partners has had quite a shake-up in management since the loss of the dividend on the stock a couple of years ago.  This move seems to indicate that maybe the days of weak performance and shuffling of the corner office may be over.

My guess is that StoneMor will want to once again be a player in the acquisition business.  They are traditionally a cemetery company that added funeral homes. . . if they get active in the acquisition business again they will find a crowded field that not only includes SCI, Carriage Services, and some regional operators, but, starting about a year ago,  the ever aggressive Park Lawn Corporation as well.

A crowded acquisition market vying for top properties could mean really good things for operators who have worried about prices for locations as cremation increases and interest rates rise.

[wpforms id=”436″ title=”true” description=”true”]