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.
High-net-worth individuals and family offices are hunting for yield, concerned about low interest rates and market volatility
Fund expects to hit its target in the first quarter of 2020 and has already made six investments
Soprome and BTC Capital also back the takeover of the security services company
Perlego offers access to online textbooks for a subscription fee of £12 per month