Private Equity Conversations with Fexingo · 2026-06-19 · 9 min
In episode 60 of Private Equity Conversations, Lucas and Luna explore a rapidly consolidating niche: pet cremation and aftercare. With U.S. pet ownership at an all-time high and the humanization of pets driving spending, private equity firms have begun rolling up independent pet crematories into regional platforms. The hosts break down the key players - including the Sedgwick-backed Gateway Pet Memorial and the Shore Capital-backed EverLife - and examine the deal mechanics: low fragmentation, high recurring demand, and real estate assets that enable sale-leaseback strategies. They also discuss the ethical tensions: pet owners may not realize their beloved companion's remains are handled by a corporate chain, not a local family business. Lucas brings data on the industry's estimated $1.5 billion annual revenue and 5 - 7% annual growth rate. Luna questions whether consolidation will lead to higher prices or reduced service quality in a moment when grief is driving the purchase decision. This episode is a sober look at how private equity monetizes the emotional economy.
How Private Equity Is Buying Up Veterinary Specialty Centers78 / 100How Private Equity Is Rolling Up Emergency Room Staffing78 / 100How PE Is Rolling Up HVAC Service Companies83 / 100How Private Equity Is Buying Up Pet Grooming Chains82 / 100How Private Equity Is Buying Up Hobby Farming Land82 / 100