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Ontario Teachers acquires additional OGF stake from Pamplona

Ontario Teachers’ Pension Plan has become the majority shareholder of French funeral services provider OGF through the acquisition of a 33 per cent stake in the business from Pamplona, bringing its total shareholding to 74 per cent.

Pamplona and the OGF management team retain a 20 per cent and 6 per cent shareholding respectively. 
 
Pamplona acquired OGF in October 2013, and in the second half of 2015 it sold a 41 per cent stake in OGF to Ontario Teachers'.
 
The transaction has received all necessary approvals and is effective as of 12 April, 2017. Terms of the transaction have not been disclosed.
 
Ontario Teachers’ is a long-term investor that aims to identify unique opportunities and partner with strong management teams. It has a long experience in minority and control transactions, investing flexible capital from its own balance sheet alongside a supportive governance framework to oversee future growth plans.
 
OGF, founded more than 170 years ago, has an unparalleled nationwide network of 1,100 branches, 550 funeral homes and 72 crematoria and a portfolio of highly recognised brands. With the support of Pamplona and Ontario Teachers’, the business has completed multiple acquisitions in recent years, growing the portfolio and improving operations. The company has a 10-year average customer recommendation rate of 97 per cent. OGF delivered a record turnover of EUR625 million in the year ended 31 March 2017.
 
Markus Noé-Nordberg, partner at Pamplona, says: "We are proud to have participated in OGF’s development since 2013. Under our ownership OGF has invested over EUR300 million in both internal development and acquisitions. We look forward to continuing our partnership with Ontario Teachers’ and the OGF management team, and supporting the future growth of the business."
 
Jean-Charles Douin, director of Ontario Teachers’ EMEA, says: “OGF’s stable long-term growth profile and proven track-record fits Ontario Teachers’ investment mandate perfectly. Since 2015, we have supported the business’s organic and acquisitive growth, while it has continued to improve financial and operational performance. We look forward to supporting OGF’s development, as it continues to deliver the highest service standards, reinforce its market position and deliver positive results.”
 
Philippe Lerouge, president and CEO of OGF, says: "I would like to thank Pamplona for having endorsed our strategy over the past years and I am very pleased by Ontario Teachers’ confidence in OGF business model and our ability to pursue our growth strategy in the future. We will continue to deliver a premium quality service for our clients, and focus on the core values of our business."

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