On September 16, 2021, WP Global Partners announced the full realization of its direct investment in Foundation Partners.
Foundation Partners is a national operator of funeral homes, crematoriums, and cemeteries. WP Global invested in Foundation Partners in June 2015 alongside Access Holdings. WP Global found the investment attractive because of the fragmented nature of the death care industry coupled with demographic mortality trends. Moreover, death care services are fairly consistent and less cyclical.
WP Global served as a key driver in helping establish the platform and was active with upgrading management. Since WP Global’s investment in 2015, the company has experienced consistent and steady growth, having completed more than 55 add-on acquisitions to become the largest privately-held funeral service provider in the United States. The company now operates 240+ facilities in 20 states and utilizes a hub and spoke operating model to enhance and drive operating efficiencies within clustered geographies.
About WP Global Partners
WP Global Partners is a private markets firm focused on investing into small to middle market companies via both direct and fund vehicles through both private equity and debt strategies. With decades of experience, the WP Global team has collectively invested $7 billion into over 100 companies directly and into over 400 small to middle market funds.