Cuatrecasas had advised the Catalana Occidente Group on buying the Ontario Teachers’ Pension Plan (OTPP) from Mémora, the leading group on the Iberian Peninsula for funeral services, funeral homes, crematoriums and cermatorium management. The transaction is valued at €387.5 million, although the price is subject to certain financial adjustments.
This will enable the Catalana Occidente Group to take leader position in the funeral services sector. This inorganic growth will enable the group to diversify its activity in the sector which shows great synergies with its traditional business. The transaction is subject to the authorization of the competition authorities in Spain and Portugal.
The value of Mémora, including the group’s debt, is approximately €600 million. The company, which has 1,500 employees, owns or controls the management of 139 funeral homes, 39 crematoriums and 18 graveyards, and provides 50,000 services annually.