Who is buying funeral homes?
12 named consolidator platforms are actively acquiring US funeral home businesses; 8 of them are private-equity-backed. Typical funeral home acquisitions price at 4x-6x EBITDA (3x-4.5x SDE for smaller owner-operated businesses), per published ranges from Atlantic Coast Business Advisors, Sofer Advisors and others. The most recent named acquisition tracked on this page closed in October 2026.
Why funeral homes are consolidating
- •The United States has 15,401 operating funeral homes, and approximately 75% of them are family- or privately owned, according to the National Funeral Directors Association (NFDA).
- •Service Corporation International estimates it holds about 18% of the roughly $24 billion U.S. and Canadian deathcare market, with other consolidators at about 10% and independents at about 72%, according to SCI's Q4 2025 investor presentation.
- •SCI and Carriage Services together represent approximately 23% of U.S. funeral and cemetery revenue, and independent businesses plus other privately owned consolidators hold the remaining 77%, according to Carriage Services' 2025 Annual Report.
- •SCI spent $101 million in 2025 to acquire 22 funeral homes and 2 cemeteries in major metropolitan markets, according to SCI's fourth-quarter 2025 results release.
- •Mergermarket tracked 19 M&A deals targeting North American funeral homes, cemeteries and crematoria in 2022, the busiest year in nearly two decades and surpassed only by 2004's 36 deals, according to ION Analytics (Mergermarket).
The platforms consolidating funeral homes
The named groups acquiring US funeral home businesses, with their current owner and a source for each. Most grow through individual partnerships that are not separately disclosed; where a platform publishes named deals, recent ones are listed.
| Acquirer | Owner / backer | Type | Headquarters | Latest named deal |
|---|---|---|---|---|
| Service Corporation International (Dignity Memorial) | Publicly traded (NYSE: SCI) | Strategic / public | Houston, TX | Dec 2024 |
| Everstory Partners (formerly StoneMor) | Axar Capital Management | Private equity | Altamonte Springs, FL | Jun 2026 |
| Park Lawn Corporation | Homesteaders Life Company and Birch Hill Equity Partners (via Viridian Holdings LP) | Private equity | Houston, TX | Jun 2026 |
| Carriage Services | Publicly traded (NYSE: CSV) | Strategic / public | Houston, TX | May 2026 |
| Rollings Funeral Service | Vineyard Capital Partners (significant investment); founders Greg and Debbie Rollings | Private equity | Peachtree City, GA | Jan 2026 |
| NorthStar Memorial Group | Evergreen Investment Advisors, alongside the founder | Private equity | Houston, TX | — |
| Milestone Funeral Partners | Rosewood Private Investments (PE arm of the family-owned Rosewood Corporation) and Bender Equity, plus funeral-director equity owners | Private equity | Auburn, ME | Sep 2026 |
| Legacy Funeral Group | Michael L. Soper (founder, President and CEO) | Strategic / family-owned | Houston, TX | Sep 2026 |
| Fidelity Memorial Group | Saw Mill Capital | Private equity | Savannah, GA | Apr 2026 |
| Newcomer Funeral Service Group | Newcomer family | Strategic / family-owned | Topeka, KS | Mar 2026 |
| Pinnacle Funeral Service | Vineyard Capital Partners (investor group led by managing partner Jeff Boutwell) | Private equity | St. Petersburg, FL | Jul 2026 |
| Landmark Funeral Group | Brenton Point Capital Partners | Private equity | Toledo, OH | Oct 2026 |
Service Corporation International (Dignity Memorial)
Strategic / public- Owner
- Publicly traded (NYSE: SCI)
- Headquarters
- Houston, TX
- Scale
- 1,495 funeral service locations and 505 cemeteries (316 combination) in 44 states, eight Canadian provinces, DC and Puerto Rico at June 30, 2026
SCI seldom names the businesses it buys. Its Q4 2025 release reports $101M spent on 22 funeral homes and 2 cemeteries in major metropolitan markets in 2025. The location counts include Canada.
Everstory Partners (formerly StoneMor)
Private equity- Owner
- Axar Capital Management
- Headquarters
- Altamonte Springs, FL
- Scale
- More than 460 cemetery, funeral and crematory locations in 23 states and Puerto Rico (Jun 2026). Axar's case study cites 469 properties: 376 cemeteries, 81 funeral homes and 12 crematories
Axar took StoneMor private in Nov 2022, and Funeral Director Daily reported the rename to Everstory in Apr 2023. Funeral Director Daily still described Axar as the owner in May 2026. The portfolio is mostly cemeteries, and its only named 2026 deal was a cemetery.
Park Lawn Corporation
Private equity- Owner
- Homesteaders Life Company and Birch Hill Equity Partners (via Viridian Holdings LP)
- Headquarters
- Houston, TX
- Scale
- Two Canadian provinces and seventeen U.S. states (Aug 2024); it has since entered Oklahoma (Dec 2025)
Homesteaders, a mutual life insurer, and funds of Birch Hill, a Canadian PE firm, have co-owned Park Lawn since Aug 2024. Its site lists a Canada HQ in Toronto, ON and a U.S. HQ in Houston, TX, and 2026 releases carry a Houston/Toronto dateline. Markus Sturm is quoted as President in its Jul 2026 release.
Carriage Services
Strategic / public- Owner
- Publicly traded (NYSE: CSV)
- Headquarters
- Houston, TX
- Scale
- 155 funeral homes in 24 states and 28 cemeteries in 9 states (Jun 30, 2026)
Carriage acquired no businesses in 2024. In 2025 it sold 13 funeral homes and 4 cemeteries: Bunker's in Las Vegas went to Legacy Funeral Group, and four Connecticut properties went to Milestone. Its Sept 30, 2026 release still carries the NYSE: CSV ticker.
Rollings Funeral Service
Private equity- Owner
- Vineyard Capital Partners (significant investment); founders Greg and Debbie Rollings
- Headquarters
- Peachtree City, GA
- Scale
- With sister company Pinnacle, just under 100 funeral service locations across 20 states (Oct 2025)
Vineyard is a permanent-capital investor that is not an institutional fund, so its PE typing reflects private-investor backing. It did not disclose the size of its stake. Vineyard's site dates the investment Jan 15, 2024, but Kates-Boylston (Sep 2025) called Vineyard a recent partner. Greg Rollings remains Chairman, and Tony Kumming leads both Rollings and Pinnacle.
NorthStar Memorial Group
Private equity- Owner
- Evergreen Investment Advisors, alongside the founder
- Headquarters
- Houston, TX
- Scale
- Nearly 90 locations. Indicative counts are 40 cemeteries, 50 funeral homes and 22 cremation locations
Evergreen recapitalized NorthStar in 2006 and says it continues to play an active role. NorthStar targets large combination cemetery-funeral home properties. The month of the Mililani deal is not stated.
Milestone Funeral Partners
Private equity- Owner
- Rosewood Private Investments (PE arm of the family-owned Rosewood Corporation) and Bender Equity, plus funeral-director equity owners
- Headquarters
- Auburn, ME
- Scale
- About 90 funeral homes across New England and upstate New York (May 2026)
Rosewood recapitalized Milestone in Mar 2024. Before that, Milestone was a portfolio company of Bender Equity and Phase3 Advisors. A Nov 2025 profile names Bender Equity and Rosewood as its two PE backers among 39 equity owners. In 2025 it also bought four Connecticut funeral homes from Carriage; the homes were not named.
Legacy Funeral Group
Strategic / family-owned- Owner
- Michael L. Soper (founder, President and CEO)
- Headquarters
- Houston, TX
- Scale
- Not disclosed. Its 2024-2026 announcements add funeral homes in TX, LA, FL and NV
MEDIUM CONFIDENCE on the owner. Ownership was last documented in the 2014 FTC filings. The company's own story says Soper founded it in 1998 and he is still CEO, and Tracxn lists it as unfunded. An SEO page claims ONCAP backs it, but no primary source confirms that.
Fidelity Memorial Group
Private equity- Owner
- Saw Mill Capital
- Headquarters
- Savannah, GA
- Scale
- Over 50 funeral homes and cemeteries (Mar 2026). It has operated in six states since entering Virginia in the first half of 2026
Saw Mill recapitalized Fidelity from Nyx Partners. TM Capital says the deal closed in Oct 2025, and it was announced in Mar 2026. Two further add-ons in the first half of 2026 (seven locations) were not named. Funeral Director Daily places the company in Garden City, GA.
Newcomer Funeral Service Group
Strategic / family-owned- Owner
- Newcomer family
- Headquarters
- Topeka, KS
- Scale
- Over 50 funeral homes and cemeteries in 10 states
Its site describes it as an independent provider owned by the Newcomer family. Ren Newcomer founded it in 1978 and is Chairman, and John Newcomer has been President since 2021.
Pinnacle Funeral Service
Private equity- Owner
- Vineyard Capital Partners (investor group led by managing partner Jeff Boutwell)
- Headquarters
- St. Petersburg, FL
- Scale
- 29 locations across 6 states (company locations page)
Vineyard is an investor group of retired attorneys, funeral directors, bankers and doctors, not an institutional fund. Pinnacle is Rollings' sister company under Vineyard. Its locations page says Norcross, GA, while its site footer and Funeral Director Daily give St. Petersburg, FL.
Landmark Funeral Group
Private equity- Owner
- Brenton Point Capital Partners
- Headquarters
- Toledo, OH
- Scale
- 26 listed locations in OH, PA and WV, including one monument business (brands page, Oct 2026)
Brenton Point launched Landmark in 2025 to consolidate funeral homes, crematories and cemeteries in IN, MI, OH, western PA and WV. The CEO is Seb D'Appolonia.
Selling in your state?
What funeral home businesses sell for, who is buying, and how many there are, state by state.
Frequently asked
What multiple will my funeral home sell for?
Published ranges overlap at roughly 3.0x-4.5x seller's discretionary earnings (SDE) and 4x-6x EBITDA. Atlantic Coast Business Advisors (Feb 2026) puts most independent firms at 3.0x-5.0x SDE and larger operators at 4.0x-6.0x EBITDA. Sofer Advisors cites 2.5x-4.5x SDE and 4.0x-8.0x EBITDA. Funeral home and mortuary sales reported to BizBuySell from 2021 to 2025 averaged a 4.28x earnings multiple, with a $1.5M median sale price. Peak Business Valuation's figures run lower, at 1.99x-3.22x SDE.
Who is actively buying funeral homes right now?
Park Lawn, owned by Homesteaders Life Company and Birch Hill Equity Partners, closed nine acquisitions in Georgia, Texas, Oklahoma, Mississippi and Tennessee between October 2025 and June 2026. Carriage Services bought two Florida groups in September 2025 and a funeral home in Maryville, Tennessee in May 2026. Rosewood-backed Milestone Funeral Partners added homes in New York in June and September 2026. Legacy Funeral Group added three Texas businesses between July and September 2026, and Pinnacle Funeral Service bought in Wisconsin and Illinois in June and July 2026.
How much of the industry do consolidators already own?
Not most of it. SCI estimates it holds about 18% of US and Canadian deathcare revenue, with other consolidators at about 10% and independents at about 72%. Carriage's 2025 annual report puts SCI and Carriage together at about 23% of US funeral and cemetery revenue. NFDA counts 15,401 US funeral homes, about 75% of them family- or privately owned.
Will my funeral home keep its name and staff after a sale?
Several buyers have said so publicly, though terms vary by deal. Rollings said the McCombs Funeral Home name would remain and its staff and leadership would keep serving families. The O'Brien-Sullivan name continued after Rollings bought it in January 2026. Milestone said former owner Kevin McInerny would stay on as managing partner of McInerny Funeral Home in Elmira, NY. Pinnacle's president said in 2024 that its plan is to remain privately owned in 20 years.
What raises or lowers the price a buyer will pay?
Atlantic Coast Business Advisors names the drivers of a top-quartile price: transferable profitability with low owner dependency, a fully funded pre-need trust backlog, owned real estate, and an on-site, fully permitted crematory. It names what lowers the price or kills deals: unfunded or mismanaged pre-need trusts, aging crematory retorts that need $200,000+ to replace, handshake employment agreements without enforceable non-competes, and commingled personal and business expenses.
Do buyers prefer single funeral homes or groups?
Groups draw more interest. In January 2025, Funeral Service Insider editor Tony Russo wrote that consolidators, large and small, told him their interest is more in groups than in single funeral homes, though single homes are not off the table. In 2025, Todd Reich of NewBridge Group said valuation focus has shifted from 'price per call' to EBITDA.
Methodology & sources
Compiled and adversarially re-checked on Oct 5, 2026. Sources were buyer press releases, PE and investor portfolio pages, SEC filings (SCI, Carriage), FTC divestiture filings and trade press (Funeral Director Daily, Kates-Boylston, NFDA, NewBridge Group, Hartford Business Journal). Each platform's owner was re-checked for a 2025-2026 sale, recap or merger. A platform was dropped when no source named its owner. Deals list only named US targets whose acquirer, month and location were read on the cited page. The list is a sample, not a census. SCI and several private buyers rarely name the businesses they buy. The completeness sweep was bounded: about eight searches plus four pages of Funeral Director Daily M&A and finance listings.
Multiple sources
- Atlantic Coast Business Advisors, 2026 Funeral Homes & Cremation Services Industry Report (Feb 2026, Q1 2026 data) ↗
- Sofer Advisors, A Complete Guide to Funeral Home Valuation ↗
- Peak Business Valuation, Valuation Multiples for a Funeral Home ↗
- BizBuySell, Funeral Home Business Valuation Benchmarks ↗
Market sources
- NFDA Media Center statistics (updated Sept 29, 2025) ↗
- SCI Q4 2025 investor presentation ↗
- Carriage Services 2025 Annual Report ↗
- SCI Q4 2025 results release ↗
- ION Analytics / Mergermarket: Deathcare M&A hits two-decade high ↗
- Kates-Boylston Funeral Service Insider: SCI and the M&A Theme for 2025 (Jan 13, 2025) ↗
- NewBridge Group: Navigating Funeral Home M&A in 2025, a conversation with Todd Reich ↗
Last updated October 6, 2026. Platform ownership last verified October 6, 2026. Ownership in this sector changes frequently; figures reflect the most recent public sources available and are not investment, legal, or tax advice.
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