Funeral Services Partnership (“FSP”) is a leading provider of funeral services across the UK
In May 2016, Montagu completed the acquisition of FSP from August Equity Partners. FSP was acquired in partnership with the incumbent management team, who have re-invested significantly into the business.
Founded in 2007 by CEO Phillip Greenfield, FSP is today the third largest funeral services provider in the UK, with over 130 branches throughout the country. The company has circa 500 staff and oversees approximately 10,500 funerals per year. It has grown substantially since inception via new openings and acquisitions. FSP’s model is based on acquiring independent funeral directors, retaining their heritage and putting in investment, training and improved processes in order to build a brand with a reputation for reliability, trust and quality.
Montagu was attracted to invest in FSP due to the stable nature of the market, the track record of FSP’s management team and the highly fragmented market structure, which creates opportunity for acquisitive growth. Montagu will partner with Phillip Greenfield and his management team to grow the business by making further acquisitions, via organic expansion and through continued operational enhancements.