August Equity-backed PCS bolts on Norfolk Pet Crematorium

The shareholders of Norfolk Pet Crematorium, Ken and Susan Bernard Smith, are retiring from their management positions at the business.

This is PCS's seventh acquisition since August Equity's investment in 2015. The firm used its August Equity Partners III fund for the investment, which invested equity tickets of £10-30m in companies. The fund was fully deployed in March 2018.

PCS reported revenues of £7.1m and EBITDA of £1m in 2015.

Company
Founded in 1985, Norfolk Pet Crematorium offers pet funeral services to both vets and consumers.

People
Pet Crematorium Services – Glenn Tuck (managing director).

Advisers
Acquirer – Ansons Solicitors (legal); Crowe (financial due diligence, tax).
Company – Mills & Reeve (legal).

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• Topics
• Portfolio management
• UK / Ireland
• Consumer
• August Equity LLP
• Mills & Reeve
• United Kingdom
• Buy-and-build
• Build-up