Friday, June 5, 2020

Pet Cremation Services completes second acquisition in two months

Northampton-based Pet Cremation Services (PCS) has made its second acquisition this financial year with the purchase of Essex Pet Crematorium.

National audit, tax, advisory and risk firm, Crowe, was the lead advisor on the deal, which is Pet Cremation Services’ eighth deal since 2015. The completion brings the number of PCS sites across the UK to 15, with a further site in the USA.

Essex Pet Crematorium was established in 1989 and is a member of the Association of Private Pet Cemeteries and Crematoria. A family-run business, it is based at Mapledean Farm, Latchingdon, Essex.

Andy Kay, Corporate Finance Partner at Crowe in the Midlands, advised PCS, along with Associate Director Chasz Coulsting.

Andy Kay said: “This is another significant step in PCS’ plan to develop and expand the company into a significant sized business. We are working alongside the business owners to identify and implement further acquisition opportunities.”

Glenn Tuck, Managing Director of PCS, said: “This latest deal follows on from our acquisition of Norfolk Pet Crematorium in April and further expands our geographic network. We have worked closely with the Corporate Finance team at Crowe to identify potential acquisitions and we are looking to continue to build the business in this way.”

Johnathan Dudley, Crowe’s Managing Partner for the Midlands and South West region, said: “This is the latest of a number of deals in the pipeline for Crowe’s Corporate Finance team and it’s great to continue to be associated with PCS’ success.

“We anticipate further opportunities for our clients as the current economic and political uncertainty leads some owners to consider selling and others to opportunistically accelerate their growth plans.”

PCS, the trading name of Time Right Ltd, was established in 1989, and since the introduction of a private equity partner, August Equity, in 2015, the business has grown from nine branches to 16, including one in Florida, USA.

PCS was advised by Neil Jones and Jamie Gill of Ansons Solicitors and Essex Pet Crematorium was advised by GEPP Solicitors. Acquisition facilities for the transaction were provided by HSBC.

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