08/06/2023
We’re thrilled to have helped with the first takeover of 2023, which has now cleared the FCA change in control condition.
Dignity plc, the England-based funeral plan and end of life service provider which operates in over 700 branches across the UK, is set to be acquired by a consortium spearheaded by Direct Line founder Sir Peter Wood, comprising SPWOne V Ltd, Castelnau Group Ltd and Phoenix Asset Management Partners Ltd.
The potential deal was first announced on 4th January before the proposed takeover was suspended in late March as the FCA's change in control condition had not yet been satisfied. It cleared this hurdle in April, allowing the deal to proceed.
The £281m takeover implies an enterprise value of £789m including the group’s debt.
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