November 2008: UK private equity fund 3i Group, listed in the London Stock Exchange, has acquired 100% of Mémora Inversiones Funerarias, the leading Iberian funeral services provider owned by Acciona (75%) and Caja Madrid (25%). With a network of 91 funeral parlours, 16 cemeteries and 14 crematoriums, Mémora is the leading funeral services operator in Spain and Portugal providing 30,000 services per year. Moreover, Mémora owns 49% of Serveis Funeraris de Barcelona, the preeminent funeral services provider in the City of Barcelona, and of Cementiris de Barcelona, the remaining 51% being held by the City Council of Barcelona.
These companies have 4 funeral parlours, 9 cemeteries and 2 crematoriums. Through this investment, 3i seeks to support and accelerate Memora’s development and to drive the consolidation and profesionalisation of the funeral services sector.
SOCIOS originates the investment opportunity and advises 3i on all aspects of the transaction financing and execution.
