Cleary Gottlieb represented Latour Capital in Funecap’s acquisition of Altair Funeral.
Paolo Zanghieri, founder and majority shareholder of Altair Funeral, reinvested in the transaction and comes to hold nearly 20% of Funecap. Latour Capital, Charterhouse Capital Partners, and the management team led by Xavier Thoumieux and Thierry Gisserot will continue to hold the majority of Funecap’s capital.
The acquisition closed on April 14, 2022.
Founded in 2010, Funecap is the second-largest funeral services and crematoria management player in France, operating more than 700 sites including 50 crematoria.
Altair Funeral is the Italian leader in the management of crematoria and cemeteries, with over 35 sites.
Latour Capital is an independent French management company with an entrepreneurial culture and strong operational experience. With more than €1.5 billion under management and some 15 professionals, it is an active investor, involved alongside the management of its portfolio companies. Latour Capital invests primarily in companies with strong growth potential in France and abroad.