Greenfield acquires funeral company Meride
Greenfield Capital Partners has acquired a majority interest in online funeral service provider Meride. The capital injection is aimed at helping this Dutch company to accelerate its growth and to expand its market share.
Meride was founded five years ago by entrepreneur Marc Dreuning. Since it was founded, Meride has generated 30 percent annual growth and it is expected to generate a turnover of EUR 5 million this year. The company aims to grow in 3 to 5 years from providing funeral services for 1,000 to 10,000 funeral services on a yearly basis. The turnover is expected to increase by about ten times. Greenfields’ capital contribution is to partly buy-out Marc Dreuning and to invest in marketing, online services and new staff. Dreuning continues to be the manager director and he is now a minority shareholder.
The Dutch private equity company Greenfield Capital Partners will generally invest an average of €3 to €5 million in its participations per year, up to a maximum of €10 million. The investment company is well known for investments in among others Telfort and Wegener Direct Marketing.
Penrose in Amsterdam (Lukas Witsenburg) has advised both Meride and its founder Marc Dreuning on this transaction.