Charterhouse Capital Partners announces partial sale of Funecap, continues to support next phase of growth
February 10, 2021
Charterhouse Capital Partners LLP (“Charterhouse”), one of the longest established private equity firms operating in Europe, announces today that it has agreed a partial realisation of its investment in Funecap Groupe (“Funecap” or “the Company”), the major funeral services and crematoria provider in France, in selling a stake to Latour Capital.
Founded in 2010 by Xavier Thoumieux and Thierry Gisserot and headquartered in Paris, Funecap is the second largest funeral provider in France. The Company operates across two broad funeral service categories: burial and cremation services, which cover all aspects of funeral organisation from logistics and service provision to administration and grave maintenance; and, management of crematoria on behalf of French local public authorities with 46 sites under management. Funecap has a nationwide presence through a direct network of approximately 450 operated agencies, 200 funeral homes and 46 crematoria. In addition, the business has 200 agencies, which operate under the company’s franchise network.
Since its investment in the business in July 2018, Charterhouse has supported the business in impressive growth driven by: organic initiatives, expanding the Company’s market share and increasing its service offering in its core markets; a ramp up of the crematoria business, with numerous new key concessions won; and, M&A, completing over 50 add-on acquisitions since its initial investment. The French funeral services market remains highly fragmented and presents a significant buy-and-build opportunity.
Charterhouse wishes to congratulate Funecap’s founders and management team, and looks forward to the continuation of their partnership as Funecap enters its next phase of growth. Charterhouse will retain an interest in the business and participate in future value creation alongside management and Latour Capital.
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