Portfolio
Mémora Inversiones Funerarias
| Investment type | Buyouts |
|---|---|
| Region | Spain |
| Status | Current investment |
Nature of Business
Mémora is the leading Iberian group in funeral services and cemetaries management. Mémora was founded in 2001 through the acquisition of Spanish and Portuguese businesses that were under the ownership of US funeral service providers SCI and Eurosteward.
Since the acquisition Mémora has acquired more than 10 funeral services businesses in Spain and Portugal and currently operates 116 funeral parlours, 18 crematories and 25 cemetaries within Iberia. Mémora has experienced considerable growth in the past two years and now operates through a local level network in Spain and is the dominant player in the Portuguese market.
Investment Overview
3i backed the €306m buyout of Mémora from Acciona and Caja Madrid in November 2008.
Since the investment we have introduced Ramon Lafuente to the board as Executive Chairman. Ramon has extensive experience as Chairman or Non-executive Director across several of 3i's portfolio companies, including Panreac and Esmalglass.
Our investment will allow the company to continue this growth through further acquisitions and play a leading role in the industry's consolidation. We have supported the management team through a number of initiatives, including organising a series of strategic workshops which have led to a clear understanding of the strategy across the whole business.
We are also sourcing and supporting acquisitions, and have created a project management office to help define a systematic approach to project implementation. Furthermore, we are also supporting the company with its financial management control.
