CASE STUDY 01
M&A Strategy & Operational Integration
DAVID L. MEYERS | CHIEF OPERATING OFFICER | STONEMOR PARTNERS L.P.2013–2016
Connecting acquisition strategy with operational execution to support sustainable growth.
Executive Overview
As Chief Operating Officer of StoneMor Partners L.P., David Meyers participated in the full acquisition lifecycle for acquisitions completed during his tenure, including valuation, operational due diligence, integration strategy, and post-acquisition execution.
His approach connected acquisition evaluation with operational realities—assessing management capabilities, identifying integration requirements, preserving effective local operations, and pursuing opportunities to improve profitability and accelerate growth.
The Business Challenge
StoneMor was a publicly traded owner and operator of cemeteries and funeral homes across the United States.
Its acquisition-driven growth strategy required the evaluation and integration of businesses with different management structures, operating practices, administrative systems, and supplier relationships.
The challenge was to capture the benefits of scale while maintaining operational continuity and preserving the strengths of acquired businesses.
David's Approach
Disciplined Acquisition Evaluation
David contributed operational expertise to valuation and due diligence, assessing management quality, operational compatibility, integration requirements, and associated costs.
His approach emphasized understanding both the opportunities and risks before committing to an acquisition.
People & Processes First
During the first 90 days, David prioritized leadership continuity and operational stability.
He preferred retaining capable legacy management to preserve institutional knowledge and local relationships. When appropriate leadership was unavailable, he deployed experienced internal resources to assume operational responsibility.
Phased Systems Integration
David implemented a selective approach to administrative and technology integration rather than immediately imposing a fully centralized operating model.
Accounts receivable and accounts payable were partially consolidated where practical. ADP and Sage were introduced during the first 90 days, while acquired businesses could continue using separate operating systems when appropriate.
This approach established common administrative capabilities while maintaining operational continuity.
Purchasing Efficiencies
Acquired businesses were integrated into StoneMor's purchasing department to leverage combined purchasing volume, reduce fragmented spending, and eliminate local vendor contracts where appropriate.
Revenue Development
David supported growth through more focused marketing strategies and additional marketing investment directed toward newly acquired assets.
Integration Timeline
Pre-acquisition
Operational due diligence, management assessment, valuation input, and integration planning.
First 90 days
Leadership continuity, people and processes, essential administrative integration, and purchasing consolidation.
Months 3–6
Continued operational integration, process alignment, and execution of growth and efficiency initiatives.
Typical integration timeline based on David's experience.
Operational Initiatives & Reported Outcomes
David's integration initiatives focused on improving EBITA, revenue, operating expenses, acquisition synergies, and cash flow through targeted marketing investment, purchasing efficiencies, selective administrative consolidation, and effective management of acquired operations.
His strategy balanced financial and operational objectives with the need to preserve effective local leadership and avoid unnecessary disruption.
Executive Perspective
David's acquisition philosophy begins before a transaction closes.
Successful acquisition strategies depend on more than purchase price. Management quality, operational compatibility, integration costs, and the ability to execute a realistic post-acquisition plan are essential considerations.
His approach combines the benefits of standardization and scale with the flexibility needed to accommodate differences among acquired businesses.
DAVID MEYERS' ACQUISITION PHILOSOPHY
“Know what not to buy.”
Disciplined acquisition evaluation is as important as successful integration.
Board & Investor Relevance
David brings firsthand experience connecting acquisition strategy with operational execution.
His background provides a practical perspective on M&A evaluation, operational due diligence, management assessment, integration planning, purchasing synergies, capital allocation, and post-acquisition performance.
For private equity-backed and acquisition-driven businesses, this experience informs the evaluation of prospective acquisitions, identification of integration risks, and development of operating strategies designed to create sustainable value.