Funeral firm continues expansion with Staffs acquisition

A WOLVERHAMPTON-based funerals firm has completed its fifth acquisition of 2010.

LM Funerals has bought FM&J Wait, of Lichfield, a family-run business which has been operating for over 200 years.

Claimed to be the largest independent funeral director in the Staffordshire city, it is run by the fifth-generation of Waits, Jonathan Wait, who acts as the lead funeral arranger and conductor and will remain in this role going forward.

Debt for the transaction has been provided by the Royal Bank of Scotland, PwC acted as advisors with West Midlands solicitors FBC Manby Bowdler performing legal due diligence.

This acquisition continues a strong period of growth for LM Funerals during 2010 which also saw it appoint Deborah Kemp as new chief executive.

Early in the year, the firm acquired two Wiltshire-based directors CS Bowyer and KY Green, which was followed in June with the buyouts of Salisbury–based Chris White and Pomphrey and Mercer, which operates in the Hastings area.

Since LM Funerals was backed by buy and build specialists Sovereign Capital in 2003, it has increased the number of sites it operates from 29 to 65, through both opening satellite branches and acquisitions.

Sovereign partner Kevin Whittle said: “The acquisition of a fifth, highly regarded funeral business in only 12 months reinforces LM Funerals’ position as one of the leading funeral services companies in the UK.

“In this fragmented market, there is room for further expansion and we look forward to LM Funerals continuing its strong deal flow in 2011.”