LM Funerals further consolidates the market with four acquisitions in six months

Sovereign Capital, the UK private equity Buy & Build specialist, is pleased to announce the further bolt-on acquisitions of Chris White Funeral Directors Limited ("Chris White") and Pomphrey and Mercer Funeral Directors ("Pomphrey & Mercer") to LM Funerals (formerly Laurel), the Wolverhampton based funeral group.

LM Funerals continues to consolidate the UK funeral homes market, with a bolt-on completed in September 2009, four acquisitions successfully completed so far in 2010 and 10 new satellite branches opened over the past 12 months. The ongoing transactions serve to further expand LM Funerals' geographic reach, with each of the acquisitions providing an appropriate succession planning solution to the vendors.

Based in Salisbury, Chris White is situated close to recent LM Funerals acquisitions John Stuart and CS Bowyer in Wiltshire and extends the Group's coverage in the county. Chris White was founded in 1982 and the family run business has built a strong reputation in the region for providing a range of services to the bereaved.

Pomphrey & Mercer has been serving the local community since 1946 and is one of the largest independent funeral directors in Hastings.  The highly respected funeral business operates from two sites situated near the local crematorium and one of the largest hospitals in the SE England, trading as Banfield and Pomphrey and DC Mercer and Son.  

All of the staff at Chris White and Pomphrey & Mercer will benefit from sharing best practice amongst the Group's 250 employees based across 63 sites throughout the south of England and the Midlands.
Between them, the recent acquisitions bring approximately 1,600 funerals per year to LM Funerals, one of the largest groups of independent funeral directors in the UK.  

Commenting on the acquisitions, Kevin Whittle, Partner at Sovereign Capital, said: "We are pleased to be able to provide each business with all of the benefits of the Group's infrastructure and strategic input, whilst continuing to nurture the individual heritage of these previously family run businesses."

LM Funerals continues to assess a number of additional acquisition opportunities with a view to further expanding the Group's national footprint.  This expansion is being supported by an acquisition facility provided by The Royal Bank of Scotland plc.