Private Equity Firms Now Control Most Funeral Homes in Barre-Montpelier Area

Residents in the Barre-Montpelier area now face a limited choice of funeral providers. Nearly all local funeral homes are owned by two out-of-state private equity firms. These firms operate dozens of death-care businesses across multiple states. The change has led to higher prices and reduced service options for local families.

Milestone Funeral Partners, based in Auburn, Maine, and Rollings Funeral Service, based in Peachtree City, Georgia, dominate the local market. Rollings owns more than 90 death-care businesses in 18 states. Milestone operates 119 funeral homes, crematories, and cemeteries in New England and upstate New York. In Vermont, Milestone owns 12 locations. Its largest shareholder is Rosewood Private Investments, a division of the Dallas-based Rosewood Corporation.

Consumer advocates warn that this consolidation often leads to price increases. Funeral home prices in the region have risen faster than inflation. Rachel Bishop, a funeral director in Randolph, noted that cremation services in the Barre-Montpelier area jumped from $1,995 to $3,500 in two years. She also cited a case in Northfield where a 2025 funeral cost $4,000 more than a similar service in 2023. Nationally, a traditional full-service burial averages $8,200, while direct cremation costs about $2,300.

The shift toward private equity ownership is driven by demographic and economic factors. Nearly 25 percent of Vermonters are 65 or older. This aging population creates a steady demand for funeral services. However, consumer preferences have shifted toward direct cremation, which erodes the profit margins of traditional funeral homes. Many independent operators struggle with debt and maintenance costs for infrastructure used less frequently.

Proponents argue that consolidation improves working conditions for employees. Milestone CEO Michael Martel said the firm offers perks that independent homes rarely can. These include paid internships, tuition reimbursement, health insurance, and predictable schedules. Martel stated that the company allows funeral directors to earn equity and become partners. He described the firm as a long-term operator focused on stabilizing the business.

Critics argue that the model reduces flexibility and care. Tom Harty, vice president of the Vermont Funeral Directors Association, said that once a firm acquires a home, the focus shifts to financial returns. He noted that all funeral homes in the Barre-Montpelier area are now owned by Milestone. Harty said that independent options are scarce, forcing some consumers to leave town. He described the corporate model as a cookie cutter that limits how families are served.

The trend reflects a wider pattern of private equity investment in essential services. These firms have recently acquired nursing homes, addiction treatment centers, and veterinary clinics in Vermont. In the funeral industry, consolidation allows companies to combine accounting, billing, and purchasing operations to reduce overhead. This efficiency can lead to the closure of local facilities, such as preparation rooms, to cut costs.

Liz Robertson Little and her husband Robert work for a family-owned funeral home in St. Johnsbury. They expect to take over the business when their parents retire. Robertson Little knows of only one other Vermont funeral director planning a similar family succession. Most others either close their doors or sell to private equity firms. The name on the building often remains the same, masking the change in ownership from the public.