With over 400 properties in 28 states and Puerto Rico, StoneMor (NYSE: STON) is the second largest operator of cemeteries and funeral homes in the United States. Harvey & Company has initiated six acquisitions for StoneMor Partners, L.P., adding a total of 10 properties to the StoneMor family. Harvey & Company assists StoneMor in its search efforts to:
- Map out the fragmented death care services industry, which includes over 6,500 industry participants.
- Develop acquisition criteria for revenue, minimum number of burials, available acreage, and types of services provided based on regional demographics and cremation rates.
- Focus on specific geographic regions that either were complementary to StoneMor’s existing locations or were larger, multi-location properties in new territories.
Result: To date, over 1,420 interments, 830 services, and 140 acres have been added to the StoneMor group through the six acquisitions initiated by Harvey & Company. The company continues to work with the StoneMor management team to identify and implement additional acquisitions.