Announcement of new investment in Funecap

April 19, 2023

Latour Capital (“Latour”), a leading independent French private equity firm with a strong entrepreneurial culture and operational experience, and Charterhouse Capital Partners LLP (“Charterhouse”), one of the longest established private equity firms operating in Europe, today announce they have increased their investment in Funecap Groupe (“Funecap” or “the Group”) through their respective latest funds, and generated partial liquidity for Charterhouse’s existing investors. Both sponsors have also received additional investment from LP co-investors into the new deal. Founded in 2010 and headquartered in Paris, Funecap is the leading funeral services and crematoria provider in Europe.

Charterhouse acquired Funecap in 2018 alongside its two founders and co-owner Latour invested in the business in 2021. Together, the owners 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 185 acquisitions since formation, including two transformational acquisitions in 2022, namely Altair Funeral and Facultatieve Group. The Group is now an indisputable leader in the European funeral industry, covering both the upstream and downstream markets. Funecap generates a turnover of over €580m, 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).

The new transaction will support Funecap’s future development and fund the Group’s recent transformational acquisitions completed over the past year. An attractive new debt package has also been agreed as part of the new deal. The transaction will enable Latour and Charterhouse to benefit from Funecap’s continued growth, supporting its expansion via further consolidation of its market and meeting increasing structural demand.

Stephan Morgan, Partner at Charterhouse, commented:

“We are pleased to have supported Funecap’s transformational growth journey, working with Latour and the Group’s management team to deliver their ambitious expansion plans. Funecap is now the leading European player in the funeral services market and we are excited to continue our journey alongside its talented management team.”

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

“We are thrilled to have the continued support of Charterhouse and Latour as we begin a new chapter of Funecap’s growth journey. As Europe’s leading provider of funeral services, funeral insurance products, crematoria management and crematoria equipment, we have built a strong platform to deliver continued organic growth and realise further consolidation opportunities.”