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Charterhouse-backed Funecap completes transformational acquisition of Facultatieve Group

January 09, 2023

Charterhouse Capital Partners LLP (“Charterhouse”), one of the longest established private equity firms operating in Europe, today announces that its portfolio company Funecap Groupe (“Funecap” or “the Group”), the second largest provider of funeral services and crematoria management in France and the leading crematoria operator in Italy, has acquired Facultatieve Group (“Facultatieve”). Facultatieve is a leader in crematoria management in Northern Europe and the second largest provider of crematoria equipment and maintenance globally.

The acquisition of Facultatieve marks another significant milestone in the Group’s international expansion. Funecap will now become an indisputable leader in the European funeral industry, covering both the upstream and downstream markets. This acquisition consolidates Funecap’s position in the Dutch crematoria management market and expands its crematoria management business in the German and Swiss markets. It also sees Funecap expand into the UK, with the acquisition of Facultatieve's UK subsidiary, Facultatieve Technologies Limited, a provider of crematorium equipment and maintenance serving the UK, European and US markets. The transaction follows Funecap’s previous acquisitions of Altair Funeral and Crematoria van Nederland in 2022.

Charterhouse first acquired the Group in 2018 and has continued to work closely with Funecap’s founders and management team since then, along with co-owner Latour Capital since 2021. Together, they have focused on developing Funecap’s buy-and-build strategy and organic growth plan to strengthen its market position and consolidate the fragmented European funeral services market. Funecap has completed over 100 acquisitions since Charterhouse’s entry.

The Group generates a turnover of over €550m, provides services to more than 300,000 families every year and manages over 100 crematoria in six different countries (France, Italy, Netherlands, Germany, Switzerland and Belgium).

Stephan Morgan, Partner at Charterhouse, commented:

“We are pleased to announce this transformational acquisition of Facultatieve, which bolsters the Group’s crematoria management division and consolidates its position as the leading player in the European funeral services industry. We look forward to embarking on this next stage of growth with Funecap’s management team and capitalising on the many opportunities that will be generated as a result.”

Thierry Gisserot and Xavier Thoumieux, Co-CEOs and Founders of Funecap, said:

“Facultatieve has been a trustworthy partner of ours for more than ten years, as our main supplier of cremators and filtration systems to the French and Italian markets. We have the same values and vision as Facultatieve, whose management team will remain in place as significant shareholders helping to determine the future direction of Funecap”.

Information on Funecap Groupe