Pamplona Capital Management ("Pamplona") has signed a sale and purchase agreement to acquire 100% of the shares OGF SA ("OGF"), together with the existing management team from an investor group led by Astorg Partners ("Astorg").
OGF is the leading funeral services operator in France, providing burials, crematorium management, monuments and cemetery works, pre-need insurance contracts and coffin manufacturing. The group has the most extensive infrastructure platform in the funeral services market in France with c.1,000 branches and more than 51 crematoria under management or in construction.
Pamplona will invest alongside management to support OGF's future development and strengthen its market position.
Markus Noé-Nordberg, Partner at Pamplona, commented "Pamplona is excited to partner with OGF's management team and looks forward to supporting the Company's future growth strategy while it continues to focus on providing excellent service to its customers."
Philippe Lerouge, CEO at OGF "We thank Astorg Partners and its partners for having accompanied the Company since 2007 and contributed to the strengthening of the organisation of the group. We will continue to deliver a premium quality service to our clients, and focus on the core values of our business."
Joël Lacourte, Managing Partner at Astorg Partners, commented "We are proud to have been involved in OGF's development since 2007. OGF and Astorg teams have achieved an exemplary partnership, enabling the Company to grow in France via internal and external growth whilst safeguarding its culture and its business philosophy of premium service. We are convinced that the addition of Pamplona as a majority shareholder will enable OGF to remain a market leader on the French market."
Bucéphale Finance and JP Morgan acted as financial advisors to Pamplona. Goldman Sachs Paris Inc. et Cie worked alongside Astorg Partners, acting as its financial advisor in connection with the transaction.