Recent Deal

Octopus and Aberdeen invest in Funeral Services Partnership

Octopus Investments Limited, together with Aberdeen Asset Manager’s Growth Capital, have funded the £3.75million acquisition by the Funeral Services Partnership of five businesses in the south of England.

The Funeral Services Partnership was only founded in April 2007 by Phillip Greenfield, a former founder and director of the Fairways funeral business. The management team’s intention is to establish a major independent funeral services group made up of funeral services businesses and associated services, such as headstone supplies, located across the UK.

Their acquisition of a further four funeral businesses, as well as a stone masonry firm, means that the group now operates from 15 locations with a core base of 7 funeral services firms in the Midlands and South Yorkshire.

Mr Greenfield said: “We welcome Octopus Investments on board as an investor and we are delighted to have secured a second round of funding from Aberdeen. Both Octopus and Aberdeen have proved to be responsive partners who provide flexible support for our ambitious growth plans.”

Acting for Octopus investments was Marriott Harrison, led by corporate partners Duncan Innes and Hugh Gardner, with assistance from Rebecca Briam. Commenting on the transaction Hugh Gardner said: “It was a pleasure to act for Octopus Investments Intermediate Capital team on its first investment and he wishes them every success for the future.”

Freeth Cartwright provided legal advice to the Funeral Services Partnership, while Wragge & Co, also advised the investors on the deal.