Strategic Focus on High-Cremation Markets Drives Growth at Foundation Partners Group

National leader in innovation & cremation adds 32 funeral service businesses, 85 new locations in 14 states since 2019

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Aug 12, 2021, 07:00 ET

ORLANDO, Fla., Aug. 12, 2021 /PRNewswire/ -- Foundation Partners Group, one of the most innovative providers of funeral experiences and products, today announced that it continued to deliver on its strategic growth strategy during the first seven months of 2021, closing seven acquisitions and adding 12 new partner locations. Over the past two years, Foundation Partners has become the family funeral home owner's partner of choice, growing its network of funeral homes, cemeteries and crematories to nearly 170 locations in 21 states and serving more than 85,000 families annually.

"It has been a challenging environment for funeral business owners but our conversations with local market leaders and commitment to serving families have continued unabated throughout the pandemic," said Foundation Partners President Kent Robertson. "It's no secret that we're in the market for well-run, community-focused, funeral service businesses with high cremation rates and agile leaders who share our vision of the funeral home of the future. It's exciting that an increasing number of these firms are seeking us out."

Foundation Partners was founded 11 years ago with the belief that cremation is the future of deathcare. Today the company leads the industry in both its commitment to cremation -- the company has an overall cremation rate of 87+ percent -- and its pace of acquisitions.

Robertson said the pandemic accelerated the adoption of new technologies and other changes in the industry that have caused many funeral home operators to reconsider their options for the future. "We can offer these owners the tools and resources they need to do what they do best – nurturing strong relationships in their communities and delivering superior service to every family they meet." he said. "As the cremation leader, Foundation Partners holds a unique position in industry; we understand and embrace a new paradigm of funeral home management and are creating the funeral home experience of the future, in which families can plan services from the comfort of their homes and select from a multitude of new options for celebration, memorialization and final disposition."

Foundation Partners Chief Financial Officer Tom Kominsky is the chief architect of the company's corporate development strategy. "The key to our growth is our ability to partner with strong local brands with engaged operating teams," Kominsky said. "While we look to acquire firms across all customer segments, in 2021 we're focused on the premier segment, which offers families integrated services and enhanced life celebrations.. Former owners are the lifeblood of the Foundation Partners network and we are extremely flexible in accommodating their needs and desires. While some of the owners we've worked with in 2021 have retired, many have stayed on as local community leaders and even explored new career opportunities within Foundation Partners."

Recent acquisitions have ranged from small, single-location suburban businesses that help the company build regional density and open new markets, to larger operations with funeral homes, crematories and cemeteries.

Just last week, the Company closed on a new partnership with Kraft Sussman Funeral & Cremation Services in Las Vegas, Nevada. With a cremation rate of 80.7 percent, Nevada is a new state for Foundation Partners.

"Nevada is the largest cremation market in the country, and Foundation Partners really understands cremation," said former owner Laura Sussman. "They came to the partnership knowing what makes us successful and they are excited to continue our work; that made us comfortable from the very beginning."

In June, Foundation Partners completed the purchase of Farley Funeral Homes and Crematory in Venice, Florida.

"The Farley name has been synonymous with an unwavering commitment to customer service and innovation for 90 years," Kominsky said. "We continue to be very selective in choosing partners and the Farley team is a great example of the type of industry leaders we are bringing into the Foundation Partners family."

Former owners Michelle Farley Williams and her husband John Williams are among the most progressive in the funeral business and cited a number of reasons for choosing Foundation Partners to advance their family legacy.

"We have a team of very bright, innovative young funeral directors who are excited about the changes happening in our business," Williams said. "We were at a point where we had to make some big investments in order to take our business to the next level to meet the needs of today's families. When we considered the progressive nature of our market, the need to expand to handle rising call volumes, regulatory changes and the need to provide the most attractive employee benefit packages, we felt the time was right to pass the torch to new leaders who can deliver what our employees and our communities are looking for. We found that team at Foundation Partners."

Williams has joined the Foundation Partners team as director of cemetery strategy, overseeing cemetery innovation across the company's entire portfolio.

In addition to acquisition growth, Foundation Partners continues to grow organically, working closely with former owners in local markets to expand facilities, create new service offerings and explore new partnership opportunities.

Robertson said he is excited about the company's future and encourages firms that are not sure about their next steps to call Foundation Partners. "Succession planning can be very stressful and it's important to be informed about all your options," he said. "We're here to serve as a resource for those in the industry looking to retire, grow their businesses and expand career opportunities for themselves and their team members."

Foundation Partners offers funeral business owners complementary, confidential analyses of their businesses. Click here to learn more about partnering with Foundation Partners.

About Foundation Partners Group
Orlando, Florida-based Foundation Partners Group is one of the industry's most innovative providers of funeral services. The company owns and operates a network of nearly 170 funeral homes, cremation centers and cemeteries across 22 states. Our organizational structure allows us to embrace and grow the legacies of the local funeral homes we acquire while leveraging the economies of scale, deep understanding of technology, and our ShareLife® customer experience-centered approach to deliver truly innovative and compassionate care to the families we serve. Visit www.foundationpartners.com to learn more.

BUSINESS DEVELOPMENT CONTACT:
Zach Mayer, SVP – Strategic Finance, Foundation Partners Group
312.257.6875
[email protected]

MEDIA CONTACT:
Lynette Viviani for Foundation Partners Group
973-534-1004
[email protected]

SOURCE Foundation Partners Group