Epiris Fund III agrees acquisition of Pure Cremation

Epiris has today announced that Epiris Fund III has agreed to acquire the provider of prepaid funeral plans, Pure Cremation. While the financial terms have not yet been disclosed, the transaction is expected to complete before the end of this year. The group has been working with industry veteran Dean Lamble, the former CEO of SunLife Insurance, who will join Pure Cremation as its new group chief executive and will work with the incumbent team led by chief operating officer Mark Seastron and chief financial officer Rob Murphy. Pure Cremation has been described by Epiris as the leading provider of prepaid funeral plans in the UK, allowing people to plan and pay for their own end-of-life arrangements and thus relieve families of the stress and expense of doing so. The company operates a state-of-the-art crematorium – the busiest in the UK – near Andover, Hampshire, from which it serves the whole UK. Owen Wilson, partner at Epiris, said: “Pure is a real innovator. It is built on a determination to offer a simple, respectful alternative to a traditional funeral and so operates to the very highest standards with great care taken at every stage of the process. “The opportunity now for us is to take Pure to the next level in terms of scale and growth by bringing new experience and expertise into the business; we are excited to have partnered with Dean on this transaction and are looking forward to working with him and the Pure team to do just that.” Alex Fortescue, managing partner at Epiris, said: “We are delighted to announce this third investment for Fund III. Like those that have come before it, this ticks all the boxes for Epiris: it is an investment in a fundamentally strong business with a good position in an attractive market, to which we can bring the transformative power of fresh perspective and new skills.” Lamble added: "The direct cremation and pre-paid funeral market is undergoing a rapid transformation. Customers are favouring lower cost funeral options with their wishes clearly made known. “Pure Cremation's exceptional customer focus means it is well placed to win in this market. I am delighted to partner with Epiris to invest in the next chapter of Pure's growth in this exciting market."