The private equity backer of Pure Cremation, one of Britain’s biggest funeral providers, has kicked off a sale process which could value the business at as much as £700m.
Sky News has learnt that advisers to Epiris, which acquired the business from its founders in 2023, have begun sounding out prospective bidders about their interest.
Houlihan Lokey, the investment bank, is handling the sale.
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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.
Pure Cremation is now run by Dean Lamble, the former chief executive of SunLife Insurance.
Sources said that the current owners expected to achieve an exit worth well in excess of £500m, and potentially as much as £700m, based on current and projected profitability.
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.
Epiris declined to comment.
