How Private Equity Is Buying Up Cremation Services

The Buyout Show with Fexingo: Private Equity, Roll-Ups, and Business Acquisitions · Jun 20, 2026 · 10m · transcript

Private equity has quietly consolidated a surprising industry: cremation services. Lucas and Luna explore how firms like Service Corporation International and smaller PE-backed players have rolled up funeral homes and crematories, driven by demographic shifts and margin logic. With cremation rates in the U.S. crossing 60% in 2025, the economics are shifting — and PE is paying attention. They break down the numbers: a typical cremation generates $1,500–$3,000 in revenue versus $7,000–$10,000 for a traditional burial, but the operating margins are wider and the capital requirements lower. The…