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Private equity firm Epiris has reportedly launched the sale of Pure Cremation, in a process expected to value the business at up to £700m, according to Sky News.
News of the sale comes less than three years after the funeral provider was acquired by Epiris.
It is understood that advisers to Epiris have begun approaching potential bidders for the company. Investment bank Houlihan Lokey has been appointed to handle the sale.
Pure Cremation was founded in 2015 by Bryan and Catherine Powell to meet rising demand for direct cremations – simple, unattended services that have become increasingly popular as traditional religious funerals decline.
The Andover-based firm operates what is understood to be the UK’s busiest crematorium and offers pre-paid funeral plans, which the company believes present a major growth opportunity for future owners.
Pure Cremation is led by Dean Lamble, former chief executive of SunLife Insurance.
According to industry sources, the sale could fetch well over £500m depending on profitability and growth forecasts, with Epiris seeking to capitalise on the company’s expansion since its 2023 acquisition.
Epiris has been approached for comment. The firm has declined to comment.
