Investment manager Downing enters the funerals sector with its first acquisition

Downing has established Lighthouse Funerals, a funeral director’s platform which has completed the acquisition of Grassby & Sons, an established group of funeral directors with a strong reputation across Dorset and Devon. The group currently operates eight funeral directors and a separate masonry business. Grassby & Sons is Lighthouse Funerals’ cornerstone investment from which Downing plans to build a national network of funeral directors.

Grassby & Sons, based in Dorchester, Dorset, was founded as a funeral director in 1970 and the Grassby family has been a well-known stonemason in the region since the late 19th century.

The business is owned by brothers Peter and David Grassby and David’s son Nick, with Peter and Nick running the business. Nick and Peter will remain with the business following the acquisition and will work closely with the incoming CEO Steven Wilton. Steven is an experienced operator, having worked in the industry for over thirty years.  

Downing is investing in the funerals sector as it is a growing, resilient but highly-fragmented market that it believes will benefit from consolidation. Funeral directors are the lynchpin of the funerals industry and play a crucial societal role. Many funeral director businesses are family-owned and have built strong reputations in their local communities over generations.

Read the full article published on Downing.

19th December 2024