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.’