Corporate Finance advises DELA on the sale of seven crematoria

Description

Baker Tilly's Corporate Finance team has assisted DELA in the sale process of the seven crematoria to be sold by the Authority Consumer & Market (ACM) following the 2021 acquisition of Yarden.

French funeral group Funecap will be the new owner of the locations, which are spread across the Netherlands. Baker Tilly, in partnership with Cushman & Wakefield, Taylor Wessing and Linklaters, searched for a suitable buyer and oversaw the sale process in every facet.

Acquisition of Yarden

On Aug. 3, 2021, the ACM approved DELA's acquisition of funeral home operator Yarden. A condition for the takeover was the sale of seven crematoria to prevent DELA from becoming too big in some regions. It concerns the former Yarden crematoria in Beuningen, Heerlen, Groningen, Schagen, Utrecht and Venlo-Blerick. The DELA crematorium in Spijkenisse has also been sold.

Guidance provided by Baker Tilly

Baker Tilly advisers focused on drafting the sale documentation, finding a suitable party as well as negotiations and due diligence. The work was carried out by a multidisciplinary team of Baker Tilly consultants from Corporate Finance, Employment Advisory and IT Advisory.

On May 12, 2022, the ACM approved the sale of the seven crematoria to French funeral company Funecap. "For the Dutch funeral market it is good to have a new party. It keeps us on our toes" said Edzo Doeve, DELA general director.

Doeve is pleased that the seven crematoria will be transferred to one buyer: "The next of kin in the regions involved can count on the fact that the funeral services, due to the high quality standard of Funecap, will continue at the same high level. For the employees, this means that there is clarity about their future."

Funecap in the Netherlands

Paris-based Funecap was founded in 2010 and is currently the second-largest player in funerals and crematoria in France with 200 funeral homes and 50 crematoria. The business currently operates in four countries and with the acquisition, Funecap is fulfilling its long-term strategy to further grow in Europe.

Xavier Thournieus and Thierry Gisserot (founder and managing director) say, "The acquisition of these crematoria in the Netherlands fits perfectly into our long-term strategy. With our high quality standards and the best teams throughout Europe, we meet the needs of bereaved families."