New Funeral Home acquisition network set to offer attractive exit opportunities to operators facing escalating baby boomer demand and evolving family “Death Care” expectations.
AUSTIN, Texas, Sept. 6, 2017 /PRNewswire/ — Platinum Celebration Services (PCS) today announced the launch of the Platinum Standard Network (PSN), a roll-up acquisition network focused on acquiring and growing select independent funeral home and cemetery operations across the U.S.
The Platinum Standard Network assists independent funeral establishment operators seeking attractive exit opportunities in the midst of unprecedented industry challenges. These challenges include dramatic increases in demand – driven by the baby boomer generation (1945-1964), higher consumer expectations for more creative memorial “Death Care” services and a shortage of incoming funeral operators.
PCS and the Platinum Standard Network are led by executive Jim Kriegshauser, a 34-year Death Care Industry veteran. The network will seek to preserve or enhance operator value through consumer-focused innovation and flexible succession strategies. Strategies include simple sales, operating partnerships and a unique, staged real estate transfer. PCS and PSN will empower local funeral home and cemetery operators to compete more effectively without the headaches of ownership, while preserving their family’s legacy and enterprise value.
“The baby boomer generation’s demand for greater variety and alternative venues has placed tremendous pressure on funeral operator profits,” stated Jim Kriegshauser, PSN CEO. “Not everyone is in a position to make the capital investments the market is demanding, or they lack the professional bench strength to sustain the operation in the face of surging demand in the foreseeable future. PSN was established to help operators who are ready to monetize their businesses or are looking for a partner that will allow them to participate in the industry’s growth.”
PCS is backed by Pasadena-based KCB Real Estate Management, a family-owned real estate investment manager, and its affiliate KCB Management, a private equity firm. KCB employs a proven “patient capital” philosophy, holding investments with no pressure to exit. As a family-run firm, KCB specializes in win-win transactions for privately held family operations.
About Platinum Celebration Services and the Platinum Standard Network
PCS combines capital, technology and more than 85 years of combined Death Care leadership experience to deliver the industry’s most innovative funeral and memorialization experiences. PSN, our consumer facing brand, will expand PCS’s superior consumer offerings by enabling attractive exit strategies for independent operators while extending its consumer-centric operating platform to acquired funeral homes across the United States.