Funeral Services Partnership (FSP) has secured an additional £3.75m of funding from Octopus Investments and Aberdeen Asset Managers Growth Capital. The deal represents the first by Octopus Investments Intermediate Capital team, a specialist mezzanine finance provider with a £45m fund. Octopus invested £2.75m alongside £1m from Aberdeen. Aberdeen originally provided a founding investment of £4m for the company during April and June 2007. The new funding has enabled FSP to complete the acquisition of a further five funeral businesses in the south of England. The management team’s intention is to establish a major independent funeral services group made up of funeral services businesses and associated services, such as headstone suppliers, located across the UK.
CIC is also fundraising for CIC Mezzanine & Unitranche 5, which launched in September and held a first closing on €150m
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