An MBI to build a French leader in funeral services
The Roc-Eclerc funeral brand was created nearly 20 years ago by Michel Leclerc, renowned for having fought and broken the local government monopoly in this industry.
Roc-Eclerc is the second largest player in the funeral sector in France. It is present throughout the country via a network of franchises, which includes nearly 450 points of sale employing 2,000 people, and generating around €130 million of turnover.
The Euroknights IV fund, advised by Argos Soditic, joined forces with a team of professionals well known in the funeral sector to acquire this franchise from Michel Leclerc.
The aim was to accelerate the growth of the brand and continue with the gradual integration of a variety of services.
Structure, development and build-up
- Accelerated development through the opening of new points of sale
- Creation of a new centralised directory for network members
- Development of life assurance products
- National advertising campaigns
- Network assistance and training
- Potential takeover opportunities
The acquisition of the Roc-Eclerc franchise is the first stage of a build-up in the French funeral sector which is highly fragmented after the leader PFG. Following the takeover of the Roc-Eclerc Group in April 2005, the group acquired SDDM (July 2005), Million Marais (October 2005), Eternité (May 2006) and CFF (April 2007).
“The Argos team has a very industrial approach and a great understanding of business issues, without of course losing sight of financial objectives. Always present alongside management in difficult negotiations, it uses dialogue and recognition to encourage the team to push the company forward. As advisors to the majority shareholders, the team is very careful to properly motivate managers with shareholdings.”
Hervé Racine - Chairman