Railpen acquires Horizon cremation operator from Maven
The pension fund manager, which oversees £34bn of assets on behalf of 350,000 members, said the deal formed part of its strategy to invest in UK infrastructure
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Railpen has officially acquired Horizon Ceremonies, a crematoria operator and developer, from Maven Capital Partners for an undisclosed sum.
The pension fund manager, which oversees £34bn of assets on behalf of 350,000 members, said the deal formed part of its strategy to invest in UK infrastructure.
Horizon, founded in 2016, runs three crematoria near Glasgow and Birmingham and is developing new sites in areas with limited capacity. Its founders, Jeremy Hamilton and Stephen Byfield, will continue to lead the business.
Tim Grimstone, investment manager at Railpen, said: “The UK is facing a clear demographic need for new, high-quality crematoria, and Horizon’s award-winning track record and commitment to sensitive, well-designed facilities positions them to meet that demand.”
Hamilton said the backing of Railpen would “allow us to address the shortage of crematoria capacity and meet the growing demand for modern, well-designed facilities”.
Horizon’s Hurlet Crematorium has twice been named best crematorium in Scotland at the Scottish Funeral Awards.
Railpen was advised by CMS, PwC and CIL, while Horizon and Maven Capital Partners were advised by Burness Paull.
