Flexmort – flexible mortuary cooling solutions provider – has been acquired by a group of investors led by Noar Limited (Noar) for an undisclosed sum.
The business was founded in 2010 by entrepreneur Simon Rothwell who identified the need for mortuary solutions to be more flexible to cope with fluctuations in demand and to overcome both manual handling and specific cooling issues.
Noar holds a diverse portfolio of UK investments, with investee companies operating in a variety of market sectors. Noar deploys patient capital and looks to holds investments over the long term.
Will Lodder, Shaf Bheda and Irfan Ashfak of Magma Corporate Finance acted as lead advisors, with Gary Davie of Legal Clarity providing legal advice to the vendor. Noar’s investment was supported by Chelverton Asset Management with legal advice provided by Andrew Stilton of Keystone Law.
Founder Simon Rothwell, who will play an ongoing consultancy role in the business, said: “We are extremely excited to be joining Noar. The move ensures the company is ideally placed to take advantage of the significant expansion opportunities ahead.
“As with many business owners, I had no prior experience of selling a business so the support I received from Magma and Legal Clarity throughout the process was invaluable. I would not have been able to do it without them and cannot recommend them highly enough.”