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Funeral Services Partnership raises £3.75 million
The deal marks the first investment for equity house Octopus Intermediate Capital, providing £2.75 million from its new £45 million fund. Aberdeen Asset Managers Growth Capital invested £1 million, which follows its founding investment of £4 million into the company in April and June.
The new funding will enable FSP to complete the acquisition of a further five funeral businesses in the south of
The firm was founded in April 2007 by Phillip Greenfield, a former director of the Fairways funeral business, which he grew to manage 6,000 funerals per year and was sold to the Co-operative Group in 2006 in a multi-million pound deal.
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