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Death is anything but a dying business as private equity cashes in on the $23 billion funeral home industry
Private equity firms are investing in health care from cradle to grave, and in that latter category quite literally. A small but growing percentage of the funeral home industry—and the broader death care market—is being gobbled up by private equity-backed firms attracted by high profit margins, predictable income, and the eventual deaths of tens of millions of baby boomers. The funeral home industry is in many ways a prime target for private equity, which looks for markets that are highly fragmented and could benefit from consolidation. By cobbling together chains of funeral homes, these firms can leverage economies of scale in purchasing, improve marketing strategies, and share administrative functions. According…
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Family-owned funeral home buys local funeral home business
Routsong declined to say what he paid for the business. “We did not buy those facilities … but we are going to be servicing those families in a pre-arrangement way. We’re excited about that also, being able to help those families.” The Morris Sons phone lines, web sites and arrangements with families to be served were part of the transaction. Asked what will become of the Morris Sons’ business name, he said, “After a while it usually becomes evident that everything gets rebranded to Routsong funeral home.” Routsong has a funeral home at 2100 E. Stroop Road, less than a mile from the former Morris Sons’ Kettering location. The company…
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Shawnte Hardin faces trial over alleged phony funeral home
Shawnte Hardin faces costs connected to furnishing funeral solutions with no a license. TOLEDO, Ohio — Shawnte Hardin is accused of functioning an unlicensed funeral enterprise, abusing the bodies in his treatment and defrauding the households who ended up spending for his expert services. Dozens of cremated continues to be were being uncovered inside an Akron church leaving families to marvel where by their beloved kinds seriously were being. Prosecutors say this took place in many Ohio counties including Lucas, Cuyahoga, Summit and Franklin. Hardin was arrested by OSHP troopers in Wooden County in Oct, 2021. His demo commenced Monday in Choose Michael Goulding’s Lucas County Frequent Pleas courtroom. This…
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Henderson County Business: Funeral home business buys Shepherd property, plans to open there
Funeral property enterprise buys Shepherd house, programs to open up there Jimmy Altmeyer goes about paperwork with foreclosure sale trustee Jennifer Belter Formichella following the sale of the Shepherd assets. By Invoice Moss, Published: June 3, 2022 The Thos. Shepherd & Son Funeral Administrators house will most likely reemerge from the ashes of a sensational enterprise collapse to provide the group as a funeral home when much more. That appears to be like to be the result of the forced sale of the South Church Road residence on May perhaps 16 immediately after the financial institution foreclosed. First Bank had initiated foreclosures in Might of 2021 when Melody and Thomas…
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Ohio man accused of unlicensed funeral business arrested
Shawnte Hardin, 41, faces 37 charges of allegedly providing funeral services without a license. TOLEDO, Ohio — Editor’s note: The above video aired as a report from WTOL 11 sister station 10TV. A 41-year-old man wanted in Lucas County on 37 charges related to providing funeral services without a license is in custody Wednesday after being arrested by Ohio State Highway Patrol troopers. Shawnte Hardin is facing numerous felony charges, including one count of engaging in a pattern of corrupt activity, three counts of records tampering, and eight counts of abuse of a corpse. Hardin has operated businesses in Lucas, Cuyahoga, Summit and Franklin counties since at least 2019. OSHP said…
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