Investment Date: April, 2012
Sector: Business Services
Laurel Funerals is the number three funeral operator in the UK market and has more than 60 branches concentrated in the Midlands and the South East. In addition to operating in a very stable industry, the company has shown impressive growth through acquisitions and organic rollout since its inception. Typically each acquired business continues to trade under its original name post-acquisition and the original owners often remain involved. This strategy ensures the preservation of trusted local reputations and relationships that have been built over a sustained period. With more than 60% of the £1.5 billion funeral services market run by 2500 independent operators, the UK market remains fragmented and there exists substantial opportunities to consolidate the market.
Metric successfully exited its investment in Laurel Funerals in July 2015, when the company was sold to a consortium of Dignity Plc and Funeral Services Partners for £75 million.