OREANDA-NEWS. StoneMor Partners L.P.(NYSE:STON) (“StoneMor” or the “Partnership”) today announced an agreement to effectively acquire up to 16 Wisconsin-based cemeteries and a granite importing and finishing business for a total purchase price of approximately $12 million.  StoneMor initially acquired 10 cemeteries, and will either acquire or manage an additional 6 cemeteries subject to the receipt of certain consents.  The properties, located mostly in southeastern Wisconsin, include more than 500 acres of land, of which approximately 150 acres are undeveloped.  The cemeteries perform approximately 2,100 interments per year and provide advanced funeral planning merchandise and services.

With regard to the transaction, Larry Miller, StoneMor’s President and CEO said, “These are terrific properties which expand our presence in the Upper Midwest, and represent our first entry into the well populated Wisconsin market.  Consistent with our acquisition strategy, this transaction is expected to generate an internal rate of return (“IRR”) in excess of 30% and we expect it to be approximately $0.05 accretive to distributable free cash per unit in its first twelve months.  Our growth acquisition effort of late has been focused on operations that are immediately cash flow accretive, and this transaction is an example of the execution of that plan.”

About StoneMor Partners L.P.

StoneMor Partners L.P., headquartered in Trevose, Pennsylvania, is an owner and operator of cemeteries and funeral homes in the United States, with 317 cemeteries and 107 funeral homes in 29 states and Puerto Rico. 

StoneMor is the only publicly traded death care company structured as a partnership.  StoneMor’s cemetery products and services, which are sold on both a pre-need (before death) and at-need (at death) basis, include:  burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise. 

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release, including, but not limited to, information regarding the status and progress of StoneMor’s operating activities, the plans and objectives of StoneMor’s management, assumptions regarding StoneMor’s future performance and plans, and any financial guidance provided or guidance related to StoneMor’s future distributions, as well as certain information in StoneMor’s other filings with the SEC and elsewhere, are forward-looking statements. Generally, the words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend (including, but not limited to StoneMor’s intent to maintain or increase its distributions),” “project,” “expect,” “predict” and similar expressions identify these forward-looking statements.

These forward-looking statements are made subject to certain risks and uncertainties that could cause actual results to differ materially from those stated or implied.  StoneMor’s major risk is related to uncertainties associated with the cash flow from pre-need and at-need sales, trusts and financings, which may impact StoneMor’s ability to meet its financial projections, its ability to service its debt and pay distributions, and its ability to increase its distributions.