Mémora Inversiones Funerarias
Nature of Business
Memora is the leading Iberian funeral services company. The company was founded in 2001 and is headquartered in Barcelona. Memora’s footprint and market position in Spain and Portugal make it the undisputed leader in the sector. Each year, over 43,000 families trust Memora to deliver on its service proposition, which is based on quality, innovation and a differentiated client approach.
We invested in Memora in 2008, backing the clear leader in a market with solid fundamentals to support the company’s consolidation and growth ambitions across Spain and Portugal.
We are a committed partner to Memora, providing not only financial strength to grow quickly through acquisitions and targeted investments, but also extensive experience in managing growth programmes and performance improvement initiatives.
Memora’s governance and management team is best-in-class in the funeral sector. Through our Business Leaders Network we introduced Ramon Lafuente as Executive Chairman to the Company on investment. In addition, 3i has supported the implementation of a comprehensive Corporate Governance programme, which instills rigour in ethical decision making. CEO Juan Jesús Domingo joined Memora in 2013, bringing a strong commercial vision.
Since our investment, Memora has been transformed through both acquisitions and organic growth. In 2011, Memora increased its shareholding in Serveis Funeraris de Barcelona to 85%, in an all debt deal worth €180m, thereby consolidating its leadership position in the Barcelona region.
In addition, multiple relevant add-on acquisitions have been completed throughout Spain and Portugal, reinforcing the company’s position as a consolidator and a successful integrator.
Regulatory notice: This transaction involved a recommendation of 3i Investments plc, advised by 3i Spain.