Funeral firm Dignity, which operates crematoria in the West Midlands has been swept up by a group of investors linked to its former chief executive in a takeover move worth about £281 million.
A bidding consortium consisting of SPWOne V and Castelnau Group, whose investment manager is Phoenix Asset Management Partners, made a final offer of 550p per each share, which Sutton Coldfield-based Dignity said it had accepted.
Its 46 crematoria include Birmingham at Perry Barr, Lichfield, Shrewsbury's Emstrey, Telford and Wyre Forest at Stourport-on-Severn. The group also operates 24 cemeteries. Sir Peter Wood, chair of SPWOne, said:"Dignity has long-term growth potential _ the signs are clear to me.
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