Tag: mergers

Finance

Park Lawn Corp reports 2Q 2020, CEO Green answers acquisition questions

Toronto based Park Lawn Corporation (PLC) reported its 2nd Quarter 2020 financial situation last week.  In it they reported great success on revenue growth and Adjusted Net Earnings.  CEO Brad Green commented on the financial report in saying, “We have grown together as an organization and are poised to continue with our projected growth targets.”   In the quarterly report that you can read here you will find that growth-oriented Park Lawn’s revenues grew from $58.6 million in 2Q 2019 to […]

Business

Is the Demographer the most important person in the corporate funeral office complex

I was talking to a colleague about a recent funeral home acquisition and asking what he thought of the transaction.  His comment startled me in that he said, “I hope they didn’t pay too much because no one dies in that community anymore.”  His implication was that the community we were discussing has became known as a “tourist and 2nd home area” and that, as not a place of main residences, the death rate per thousand is on the low […]

Business Finance

Random thoughts on retail sales, funeral home restrictions, revenues, and acquisitions

Where were you when you first realized that the coronavirus may be something serious and you changed your course of habits to manage your lifestyle more safely?  Angie and I were on a scheduled flight out of Honolulu returning to Minneapolis on February 1, the day after President Trump had instituted the flight ban from China.  I remember wiping our seats down with clean wipes. . .something I had never done before. So, we have now had a little over […]

Business

Goings on in the independent funeral home world

Sometimes I can get going about a subject and give you my opinion before you have even had a chance to read the article and form an opinion on your own.  Like everybody, my experiences that I have lived slant the opinions that I profess. And, while I grew up and operated as a 4th generation funeral director in a family firm that is now in its 147th year, I like to think that I am not favored to the […]

Finance

Propel Funeral Partners growing market share

This article from Yahoo Finance indicates that Australian and New Zealand public funeral operating company Propel Funeral Partners is growing market share.  According to the article it is growing both from acquisitions and an annual death rate increase in both countries. Here is an excerpt from that article: “In Propel’s FY19 investor presentation, the company drew attention to notable industry figures. With death volumes in Australia expected to increase by a rate of 2.4% p.a. until 2026 and 2.1% thereafter […]

Finance

Service Corp purchases Louisiana based properties

At least one source has indicated in a news story that Houston based Service Corporation International (SCI) has purchased historical family funeral business properties in Baton Rouge, Louisiana.  The Greater Baton Rouge Business Report reported yesterday in this article that SCI has, at a minimum, purchased the property of the Rabenhorst Funeral Home in Baton Rouge. According to the Rabenhorst web-site that you can access here, the funeral business has two locations – Rabenhorst Downtown and Rabenhorst East.  According to […]

Business

Visiting non-compete agreements

It’s been a few years since I’ve actively managed our funeral home, but this recent article from the Minneapolis Star Tribune brought me back to one of the issues that I dealt with in the hiring of employees.  That was the issue of non-compete agreements or covenants not to compete. Non-competes have historically been used in business as the article says, “to protect the trade secrets and innovations of companies.  For agreeing not to compete with them, an employer would […]

Finance

Acquisitions keep on rolling around the world

There are a lot of reasons that businesses, including funeral homes, change operational and ownership hands.  Sometimes a single proprietor gets a price that he just can’t turn down.  Sometimes a single proprietor just wants to retire and either has no family to go into the business or family that wants to pursue other goals and ambitions. Sometimes the transaction is spurred by the acquiring company that wants to get larger and has ideas where, through operational efficiencies and promotion,  […]

Finance

Foundation Partners adds another acquisition

Acquisitions continue to be announced in the death care business.  It seems that there are a lot of businesses where the ownership is ready to transition out of the profession and there is an ever growing number of neighbor, regional, and national providers of funeral and cremation care that are intent on getting larger. In our opinion, not all acquisitions are good or beneficial to the continuing business.  We believe that acquisitions can be positive to the bottom line when […]

Business Regulations

Friday’s Random Releases

To cap off the week and the month of May we are forwarding to you three separate articles from the world of death care.  Click on the links of these articles to learn more. State of Washington and its Death Certificate Problem- An editorial from the Spokane Spokesman-Review that you can read here goes into detail the problems families are encountering because of delays in completing death certificates.  The article states that “at the heart of the problem is a […]