Epiris Fund III completes Pure Cremation acquisition

Cavendish announced that the sale of Pure Cremation to Epiris Fund III has been completed, following the exchange on 31 July for an undisclosed amount. 

The full-service investment bank for growth and investment companies, Cavendish, originated the transaction and acted as sole adviser to the Pure Cremation shareholders.

A provider of prepaid, insurance-backed funeral plans in the UK, Pure Cremation allows people to plan and pay for their own end-of-life arrangements. 

Pure Cremation was wholly owned by founders Bryan and Catherine Powell, chairman Richard Thomerson and CFO Rob Murphy. Industry veteran Dean Lamble, formerly CEO of SunLife Insurance, has joined Pure as its group CEO.

Bryan and Catherine Powell said: “In July 2015 we founded Pure Cremation and have grown the business to become the largest independent provider of prepaid plans in the UK. Pure is only part way through its exciting journey and, after a rigorous search process, we are delighted to have found such a strong partner in Epiris.

“The Cavendish team did a fantastic job, running a truly competitive process and managing the transaction with great skill. They were crucial in delivering this deal and its successful outcome – many thanks to the whole team.”

Jonathan Buxton, partner at Cavendish, added: “It has been a pleasure working with Bryan, Catherine, Richard, Rob, and the team at Pure. They have ruffled feathers in a stagnating sector by creating a major new D2C brand that is now the UK’s leading prepaid funeral plan provider. It will be exciting to watch as Pure moves onto the next chapter with Dean and Epiris.”