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Cinven plots bid for funeral provider Pure Cremation
Cinven, the private equity firm, is plotting a takeover of one of Britain's biggest funeral providers in a deal which could value it at more than £500m.
Sky News has learnt that Cinven, a former owner of the fashion brand Kurt Geiger, is among the private equity firms expected to table bids this week for Pure Cremation. Bankers at Houlihan Lokey are running a sale process which insiders say could value Pure Cremation at anywhere between £500m and £700m.
Money latest: What inflation figures mean for your finances Epiris, which acquired the business from its founders in 2023, is expected to choose a preferred bidder before the end of the year. Pure Cremation was founded in 2015 by Bryan and Catherine Powell, with the aim of meeting growing demand for so-called direct cremations, which involve a simple service without mourners in attendance.
The company offers pre-paid plans, which the company is understood to believe represents a significant growth opportunity for a future owner. Read more from Sky News:Beef market in turmoil and affecting farmers and consumersRachel Reeves looking at cutting energy bills in budget Pure Cremation is now run by Dean Lamble, the former chief executive of SunLife Insurance.
A decline in the number of religious funerals taking place in Britain each year has fuelled growth in lower-cost alternatives. Pure Cremation operates the UK's busiest crematorium, located in Andover, Hampshire.
Cinven declined to comment..
Amir Nisi
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