I had almost forgot that Hillenbrand Inc., the former parent company of Batesville, had itself agreed to be sold to Lone Star Funds last August (2025).  I was reminded of that transaction from this recent update in Financier Worldwide.

The $3.8 billion transaction “will take Hillenbrand private and marks a significant strategic shift for the Batesville, Indiana-based company” according to the aticle.

Again, according to the article, “Upon closing, Hillenbrand will become a privately held entity and its shares will be delisted from the New York Stock Exchange.”

The article does make these comments about the future closing of this transaction:

“Recent developments suggest the transaction faces challenges. Several institutional investors have filed lawsuits questioning whether the $32 per share offer reflects optimal value, citing Hillenbrand’s recent revenue decline of 24 percent and adjusted earnings per share down 40 percent. Regulatory scrutiny also looms, with approval from the Committee on Foreign Investment in the United States (CFIUS) required due to potential national security considerations. The merger agreement includes reciprocal termination fees and an outside date of July 2026, allowing time to navigate these hurdles.

Despite these uncertainties, analysts maintain that the acquisition represents a logical conclusion to Hillenbrand’s strategic overhaul. For shareholders, the offer provides a clear exit at a premium, though the timeline may extend if litigation or regulatory delays persist.”

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  Hillenbrand, with different ownership, will apparently continue to be a going-concern operating company, but for me it somewhat brings an end to the historical parent company that made its way in funeral service with a history that can be traced back to John Hillenbrand’s original casket company founded in 1884.

Over the years, since I was growing up as a funeral director’s child, Hillenbrand was synonymous with quality and at one time or another had the brands of Hill-Rom, American Tourister, Medeco, and Batesville under their umbrella organization.  I’ve been a stockholder off and on over my adult life, but did not own stock at the time of the Batesville sale or at the current time of the pending sale of the rest of the company to Lone Star.

Having a history of owning stock with the company has me wondering about the value that stockholders are getting at $32 per share.  The linked article notes that the price per share at $32 is a 37% premium over what the stock was selling for at the time of the this current sale.  However, if you go back to December 15, 2022, when the sale of the Batesville division was announced (the closing was in 2023) the stock price was at $44. . . . . and from my searching and the following answer from Gemini AI, stockholders apparently received no special dividend from that sale:

“Hillenbrand did not issue a special cash dividend to stockholders from the proceeds of the 2023 sale of Batesville. The company used the net proceeds from the sale primarily for debt reduction.”

So, if that is the case, then Hillenbrand stockholders are receiving a $32 per share price a little over three years after the stock was selling at $44 —  that’s a 27% decrease in value after the announced sale of Batesville.  I’m guessing that might be one of the reasons for the potential lawsuits, according to the linked article, about shareholders receiving “optimal value”.

It makes one think. . . maybe Hillenbrand should have sold off the rest of the company and held on to Death Care company Batesville instead of selling Batesville and holding on to the rest of the company. . . . .i.e. maybe Hillenbrand management sold the wrong company back in 2022.

Related —  Hillenbrand’s press release when selling Batesville in 2022.

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“A servant’s attitude guided by Christ leads to a significant life”

Late last week we received this press release that indicates that Park Lawn Corporation acquired eight stand-alone funeral homes in locations spanning the greater Oklahoma City market.  It represents Park Lawn’s entrance into the state of Oklahoma.

The press release announced “Park Lawn Corporation is pleased to announce that, effective December 1^st, it acquired substantially all of the assets of Service Group of Oklahoma (SGOK), a group of businesses consisting of eight stand-alone funeral homes with locations spanning the greater Oklahoma City market.”

Jennifer W. Hay, CEO of Park Lawn made the following prepared comment in the press release about the transaction, “Entering Oklahoma marks an exciting milestone in our growth strategy. These eight locations have deep ties to the communities they serve, and we’re proud to support their continued tradition of excellence.  We are pleased to welcome Chad Vice, John Davenport and the entire SGOK team to Park Lawn.  Their passion, expertise and commitment to service make them an outstanding addition to our organization.”

You can access the Park Lawn Corporation website here.  

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  Acquiring eight established funeral homes around one major city in the United States will certainly add to the numbers of Park Lawn Corporation.  From my point of view, and this is only an anecdotal observation, it seems to me that the large national acquisition and operating companies have almost completely moved on from acquisitions in what I would call Regional Centers and are very much concentrating on what I would term mid-major and major cities almost exclusively.

That strategy makes sense. . . . . the numbers of deaths and the economies of scale make those communities very attractive to the large scale companies that can raise the combination of capital and secure the debt that it takes to acquire them.  It also allows for future “bolt-on” acquisitions in the future that can make those markets even more profitable for the operators.

If that is the strategy it leaves a lot of great communities and their funeral homes, probably outside of America’s largest 50 markets, available for acquisition by the next tier of consolidators — those that compete in a more regional sphere.  That’s good news for those operators.

While the brand names of the eight funeral homes acquired were not listed in the Park Lawn press release, here are the websites of those funeral homes that we believe may be included in the acquisition.

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“A servant’s attitude guided by Christ leads to a significant life”

Funeral Director Daily recently learned that Rollings Funeral Service, based in Georgia, made a couple of acquisitions involving more than 100-year old family funeral homes.  Over the summer they purchased the McCombs Funeral Home of Jackson and Cape Girardeau, Missouri, — a firm that was founded in 1906.

And more recently in October, Rollings Funeral Service announced that they had purchased the Preddy Funeral Homes in the greater Charlottesville, Virginia, area.  Preddy Funeral Homes dates their founding back to 1916.

According to a press release, “The McCombs Funeral Home name will remain, and its current staff and leadership will continue serving families just as they always have. Through this partnership, Rollings will provide operational support, allowing the McCombs team to focus on delivering the exceptional service their community has come to expect.”

In a prepared statement in the press release, Christi Guilliams, former owner of McCombs Funeral Home made this comment, “This is a positive step forward for our staff and the families we serve.”

As to the Preddy Funeral Homes in Virginia, they operate out of three locations and serve more than 500 families per year.  According to that press releases, “The Preddy businesses will immediately gain access to Rollings accounting, legal and human resources support services.  The staff, who all will remain in their current roles, will also gain operational support, and will be able to participate in career training and bonus programs.  Families can expect the same high-quality care they have always received. . .”

In a prepared statement in the press release, Randy Preddy, former owner of Preddy Funeral Home made these comments, “This was obviously a big decision for us, but Shelly and I really wanted to stop working as hard and be able to travel a little more. . .At the same time I grew up in these communities and feel a huge responsibility to make sure our friends are still taken care of well and fairly. . . I really became comfortable that (Rollings) have the same interests at heart.” 

Rollings Funeral Service, along with their partner Pinnacle Funeral Service, operate close to 100 funeral service locations across 20 states.

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  There is no doubt in my mind that “consolidation” in the traditional funeral home realm is happening and will continue happening at a more and more rapid pace.

I also believe that while renumeration is very important in the sale process for most family, and especially generational funeral home owners, the most important consideration in many sales of these “non-major urban area ” funeral homes is the “fit” with the acquiring company.  And, today’s owners of good operations have no lack of willing purchasers so they have the ability to look for a “good fit”.

I think being a “colleague” rather than a “competitor” will make a difference as national, regional, and local companies looking to grow will be making pitches to many of the most desireable businesses going forward.

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“A servant’s attitude guided by Christ leads to a significant life”

Maybe there is something to the ongoing prediction that a whole lot of funeral homes will be changing hands in the next 3 to 5 years.  Barely after we were able to get a press release from Park Lawn Corporation out about a funeral home/cemetery expansion in New Mexico we received this press release announcing the sale of the Wages and Sons Funeral Homes in Georgia to Park Lawn Corporation.

According to the press release which we received on Monday, October 6, 2025:

“Park Lawn Corporation (“Park Lawn“), is pleased to announce that, effective today, it acquired substantially all of the assets of Atlanta Crematory located in Stone Mountain, Georgia; Cremation Society of Georgia located in Atlanta, Georgia; Wages & Sons Funeral Home located in Stone Mountain, Georgia; Wages & Sons Funeral Home Gwinnett Chapel located in Lawrenceville, Georgia; and Wages & Sons Gwinnett Chapel Crematory located in Lawrenceville, Georgia (collectively “Wages“). This transaction strengthens Park Lawn’s presence in the greater Atlanta, Georgia market through the addition of two (2) stand-alone funeral homes as well as a cremation focused provider.”

Jennifer W. Hay, Chief Executive Officer of Park Lawn Corporation made this prepared comment about the transaction in the press release, “We are excited to expand our presence in the State of Georgia through the strategic acquisition of the Wages businesses. For years, these businesses have been trusted pillars in their communities, recognized for their compassionate service and care. We are honored to partner with Jeffrey to carry this legacy forward. We warmly welcome each of the Wages businesses and their esteemed staff into the Park Lawn family, and we look forward to continuing their tradition of excellence in serving the families of the greater Atlanta area.”

Here is the website for the Wages and Sons Funeral Homes & Crematories

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  Just like the title of the hit song, “I’m a Believer” when it comes to the prediction that there will be many funeral homes changing hands in the forseeable future.  Not only are there many current family funeral home owners reaching the age of retirement but many of those firms have no next-of-kin interested in continuing as the next generation in the funeral business.  That lends itself to the eventuality of many funeral homes coming to market and many opportunities for current operators to expand their businesses with a “right-time”, right-facility”, “right-location” acquisition.

I’m guessing we will continue to hear about acquisitions as we move farther into the 4th Quarter of the year.  First of all, it is convention time and many firms like to have the momentum of acqusition announcements rolling into the convention where they get a chance to visit face-to-face with many targets.  Secondly, the process of offer/acceptance, due diligence, and closing takes some time so the firms we hear being acquired at this time of the year were probably companies on the market at the beginning of the year, a time many firms take their firms to the consolidators.

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“A servant’s attitude guided by Christ leads to a significant life”

According to this article from the Beloit (WI) Daily News, funeral home owners Jarod and Tania Williams have acquired the two locations of the Brian Mark Funeral Home.  According to the Brian Mark Funeral Home website, which you can access here, the company owned and operated funeral homes in Beloit and Clinton, Wisconsin.

Jarod and Tania Williams have operated the Rosman-Uehling-Kinzer Funeral Home in Beloit as well as the D.L. Newcomer Funeral Home in Brodhead and the Houck Funeral Home in Dodgeville (WI).

You can see a new updated website for the Beloit funeral homes here.

From the Brian Mark Funeral Home website it appears that Brian Mark will continue to work at the Brian Mark Funeral Home.

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Dignity Funeral Directors is now the name of a company once known as public company Dignity plc that was taken private in 2023.

The company is a funeral service provider based in the United Kingdom.  They recently reported their 2024 financials to the Companies House in Great Britain and in that report, which is Dignity’s first full-year of operation since the company was taken private in a buyout, Dignity Funeral Directors reported a pre-tax profit of US $9.7 million.  (Note:  All financial numbers in this article will be reported in United States fund amounts).

Here is an article about the company’s 2024 financial results.

That profit number turns around a pre-tax loss during the 2023 public/private convert year of US$  64.25 million and a pre-tax loss of over US$ 422 million in Dignity plc’s last full-year as a public company in 2022.

Here’s some other interesting information from the report:

• Dignity’s workforce has decreased to 3,121 from the 3,493 that worked for the company prior to the take-private movement

• The company had a 10.1% decline in funeral volumes.  Their case volume for 2024 was 69,400

• The company “shuttered” 90 branch locations because they failed to meet the company’s financial targets

• Dignity Funeral Directors reported they managed to pay down over US$ 185 million of debt and bring in free cash of US$ 35.0 million with the sale of the properties no longer used.

• Finally, Dignity Funeral Directors acquired end-of-life services firm Farewill in an acquisition announced at US$ 17.4 million.

You can read about the Farewill acquisition here.

Here is the website for Farewill.

Here is the website for Dignity Funeral Directors.

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  All of this is interesting news.  However, there are some points to be made when digesting this news that are interesting and thought provoking as we all look at our own businesses. . . . and these points are probably good lessons to be reminded about. . . . .

Some see problems, some see opportunities — There is no doubt that when the company was on its way to pre-tax losses of over US$ 442 million in 2022, there are those that wanted out.  They probably saw problems and thought they would be insurmountable at worst and/or a lot of work to change the direction of at best.

However, the group that came together to buy the company and take it private, which included a former CEO, an insurance magnate, and private equity firms, saw opportunity.  That makes a point that cannot be stressed enought —  that different people can look at the same object and have much different perspectives.

Make sure that you look at both sides of the issues when contemplating buying or selling because even if you know what you want to do, it may make a difference on price if you understand all of the issues and possibilities.

Branches that are not profitable —  Sometimes we hang on to locations that are not profitable just because we have always operated them.  While there might be “strategic” reasons to do so, I would look at these branches very thoroughly to see if they really are an asset.

Many times, problem locations take more management effort than those locations that are fine-tuned, busy, and profitable.  Think how your operation might be more successful if you didn’t have to relegate time to forever putting a fix in at the problem locations.  You could probably use that time, and the cash lost at a problem location, to find a better location somewhere else or build up your profitable locations to become even more profitable.

It appears that Dignity has shuttered non-performing businesses and is using the cash generated to lower debt and make it a more reasonable and serviceable amount.

The “Nexus of Technology and Traditional”  —  Dignity Funeral Directors purchase of Farewill shows that they are willing to leverage some of their operation into what they must believe will be a growing opportunity for Death Care providers — Wills and Estates.

There are a lot of technology products already in the market that can make your business easier to operate at this time.  Make sure that you take the time to know what they are and how they may help your business.

If you never take the time to learn about these products you will not be helped by them. . . . .and in a competitive world, you might find yourself at a disadvantage.

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“A servant’s attitude guided by Christ leads to a significant life”

This article from North Country Now of New York announces the acquisition of the Green Funeral Home of Gouverneur, New York, by the Frary Funeral Home.  From the company’s website which you can access here, it appears that the Gouverneur location will be the 6th location operated by Frary.

The article from North Country Now makes the following statement, “Both businesses have deep-rooted histories as multi-generational family businesses, committed to serving the community.”

It also appears from the article that Wesley McGill, a funeral director at Frary’s had been a funeral director previously at the Green Funeral Home.  It appears that Mr. McGill was born in Gouverneur and a natural fit to now be working with the Gouverneur location.

According to the newspaper article the press release also made the following comments, “With Wes’s guidance, Frary Funeral Home looks forward to continuing its tradition of excellence while offering fresh, thoughtful solutions to meet the evolving needs of our community. . . .We are committed to serving Gouverneur and the surrounding area with care and compassion, just as both Frary Funeral Home and Green Funeral Home have for generations.” 

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  A viewpoint of mine is that the anticipated sale of existing funeral homes by so many owners who are reaching retirement age is happening.  It’s been predicted for years and I now think it is upon us.

A simple suggestion to those funeral homes who want to expand is now is the time to make sure that your finances are in order and you have the resources available to do such.  I would also suggest that if you have not talked to potential acquisition site owners, now is the time for that also . . . before you miss the opportunity.

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“A servant’s attitude guided by Christ leads to a significant life”

You can read in this press release issued yesterday by Park Lawn Corporation (PLC) that, effective yesterday, they added four stand-alone funeral homes to their company via the purchase of two funeral businesses in the suburban geographic area to the west of Chicago, Illinois.

PLC announced the purchase of the Fitzgerald Funeral Home & Crematory of Rockford, Illinois. . . . a firm that operates out of two chapels.  The company also announced the purchase of Burke-Tubbs Funeral Home – Freeport and Burke-Tubbs Funeral Home – Forreston.  Those firms are located in Freeport and Forreston, Illinois respectively.

Here’s what Park Lawn Corporation CEO J. Bradley Green said in a prepared statement in the press release from Park Lawn Corporation, “We are thrilled to expand our operating presence in the State of Illinois through the strategic acquisition of the Fitzgerald and Burke-Tubbs businesses.  We are honored to welcome these esteemed businesses and their dedicated teams into the Park Lawn family.  Their addition to our portfolio enables us to better serve Illinois families with the outstanding care and excellence for which these businesses are known.”

According to information from their respective websites, Fitgerald Funeral Home & Crematory was founded in 1914 and Burke-Tubbs Funeral Homes were founded in 1953.

Funeral Director Daily take:  The privatization of Park Lawn Company certainly has not slowed down their acquisition rate.  Just one month ago, Funeral Director Daily reported on a Park Lawn Corporation acquisition in Texas.  Here is that article.  

According to information contained in the press release, Park Lawn Corporation now operates in two Canadian provinces and 17 states of the United States.

Here is a graphic that shows the Park Lawn Corporation locations.

Here is the website for the Fitzgerald Funeral Home & Crematory

Here is the website for the Burke-Tubbs Funeral Homes

Another funeral home acquisition story —  Smith-Miner Funeral Home continues as “family” business.  Midland Daily News (MI)

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“A servant’s attitude guided by Christ leads to a significant life”