Private Equity Conversations with Fexingo · 2026-06-11 · 9 min
In this episode of Private Equity Conversations with Fexingo, Lucas and Luna dive into a quietly consolidating industry: funeral homes. With over 20,000 independent funeral homes in the US, PE firms like Service Corporation International and StoneMor Partners are rolling up the fragmented market, buying family-owned operators at 6-8x EBITDA and applying operational efficiencies like centralized crematories and shared logistics. Lucas explains the financial mechanics: how a typical acquisition works, the multiple arbitrage, and the cultural tensions when PE meets a business built on personal grief care. Luna asks the hard question: at what point does efficiency erode dignity? Plus, a listener donation segment tied to the value of understanding where your money goes in opaque industries. A focused, data-rich look at a sector most people never think about until they need it.
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