August Equity out, Montagu Private Equity in. Your local funeral directors.

Fran Hall

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Thanks to Robert De Baahr from the London Society of Death for bringing this to our attention – from Insider Media Ltd.

‘European private equity firm Montagu has acquired a majority stake in a Berkshire-headquartered funeral services provider which has more than 130 branches throughout the country.

Founded in 2007 by chief executive Phillip Greenfield, Funeral Services Partnership (FSP) is the third largest provider in the UK. The Reading-headquartered company employees about 500 staff and oversees 10,500 funerals per year.

FSP’s model is based on acquiring independent funeral directors and putting in “investment, training and improved processes”.

Montagu will partner with Phillip Greenfield and his management team to grow the business by making further acquisitions and through organic expansion.

Greenfield said: “We want to continue to grow our presence in the UK market and we are confident that Montagu will be great partners given their previous experience of the sector. We look forward to working with Alex and the team going forward.”

Alex Dabbous, director at Montagu, added: “We are proud to be investing in FSP, a strong brand name in a sector we know well. FSP provides important and essential services, and we will work hard with Phillip and his team to help build the business further in the years to come.”

The financial details of the deal were undisclosed.’

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andrew plumeLucy CoulbertCharles CowlingAndrew RushDavid Holmes Recent comment authors

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andrew plume
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andrew plume

…….and it’s great to see that the very lovely Mr Sam Kershaw recently teamed up with some old mates and came aboard at FP

http://funeralpartners.co.uk/corporate/corporate-news.html

oh yes an Industry veteran Mr Sam certainly is

andrew

Lucy Coulbert
Guest

While I understand how investors would look to the funeral industry as a sound place to put their money, surely it can’t be right. Yes, funeral directors are a business. Yes, we have got to make a profit otherwise we won’t be able to help anyone else in 6 months time. Yes, I do think we deserve to take a reasonable wage for what we do….let’s face it, some of the day to day aspects of dealing with certain deceased people is certainly not for the faint hearted. However, when I read of *any* company and their published annual reports,… Read more »

Charles Cowling
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Charles Cowling

The funeral market just doesn’t work properly. A good business should be one which is good for its customers. What’s notable about this accountant-led statement is the complete absence of any consideration of any benefit to the bereaved. The lack of effective consumer scrutiny of the funerals business is largely to blame, I’m afraid.

Andrew Rush
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Andrew Rush

FSP is hardly “a strong brand name” when the branches trade under their old family business names.

Perhaps Montagu don’t know the sector quite as well as they imply?

David Holmes
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So this is the third Funeral Partners owner? The original company, (I believe) was sold, for a tidy profit by Sovereign Capital, the new investor took it on a little further it seems, and now Montagu are hoping to create an even more rewarding investment, or should that be first class funeral firm. Have I got this right Charles?

Well done chaps. I’m sure the thousands of families turning to you in the months ahead will be reassured.