Private Equity Conversations with Fexingo · 2026-06-22 · 13 min
In this episode of Private Equity Conversations with Fexingo, Lucas and Luna explore the quiet roll-up of funeral homes by private equity firms. With over 2,000 independent funeral homes acquired in the last decade, PE players like Service Corporation International and smaller funds are buying up family-owned operations at an accelerating pace. Lucas breaks down the economics: a typical funeral home generates $500,000 to $1 million in annual EBITDA, and by centralizing embalming, fleet management, and pre-need contracts, PE firms can boost margins by 10 to 15 percentage points. Luna asks what happens to local service and pricing when a faceless fund owns the only funeral home in town. The hosts also touch on the regulatory landscape, including state-level ownership restrictions and the FTC's funeral rule. A candid conversation about death, dollars, and the quiet consolidation of an industry most people only encounter a few times in their lives.
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