Laurel strengthens portfolio with three acquisitions

Sovereign Capital, the UK private equity Buy & Build specialist, is pleased to announce the bolt-ons of 3 separate funeral directors with the acquisitions of John Stuart Funeral Services ("John Stuart"), CS Bowyer and KY Green Limited ("KY Green") to portfolio company, Laurel, the Wolverhampton based funeral group which now comprises 50 sites.

Each of the acquired businesses is ingrained within its local community, with enviable reputations for providing high levels of client care established over many years. John Stuart and CS Bowyer, both based in Wiltshire, have over 150 years of trading history between them whilst KY Green, based in Aylesbury, can trace its origins back over 200 years.

Laurel has provided an appropriate solution to 'succession planning' for each of the vendors, with a flexible approach to meet their particular aspirations.

The Group intends to build on the individual heritage of these previously family owned businesses - in each case the owners were either the founder (John Stuart) or descendents of the original founders (CS Bowyer, KY Green) - through broadening the range of services available to the bereaved.

Commenting on the acquisitions, Kevin Whittle, Partner at Sovereign Capital, said: "We are pleased to be consolidating Laurel's position in the UK funeral market and providing each business with all of the benefits of the Group's infrastructure.  We look forward to further expanding the Group's geographic reach within this highly fragmented sector."

Ian Johnston, Chief Executive of Laurel added: "We are delighted to welcome these highly respected funeral directors to the Group.  As with previous acquisitions, the businesses' individual traditions will continue to be upheld whilst simultaneously sharing best practice across the Group's 240 staff."

Laurel is assessing a number of further acquisition opportunities with a view to continuing to expand the Group's national footprint.  This expansion is being supported by an acquisition facility provided by The Royal Bank of Scotland plc.