Sovereign-backed LM Funerals up for sale

The potential sale would value the funeral services business in the £50-100m range. LM Funerals has reportedly received interest from private equity firms - including LGV, ECI and LDC - trade buyers and high net worth individuals alike.

Sovereign set up LM to acquire Laurel Management for £21m in 2003 from Aberdeen Murray Johnstone Private Equity and 3i Group. Since then, the company has grown rapidly through a series of acquisitions in the fragmented funeral services sector.

At the beginning of 2010 LM Funerals acquired two separate funeral directors, CS Bowyer and KY Green, based in Wiltshire and Buckinghamshire respectively. This was followed in June with the acquisitions of two further businesses, Salisbury-based Chris White Funeral Directors and Pomphrey and Mercer Funeral Directors, which operates in and around Hastings. In December, LM Funerals took over Staffordshire-based FM & J Wait.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

 

 

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