One of Scotland’s largest independent funeral directors has secured an undisclosed funding package from Barclays to finance the purchase of Paisley Crematorium.
Fosters Family Funeral Directors were given the financial aid from Barclays to enable future growth.
Since opening in 2005, Fosters Family Funeral Directors has grown to be one of Scotland’s largest funeral directors, helping families across Scotland access affordable and professional funeral care.
Recently, it has grown to over 16 locations across Scotland, including new parlours in Perth, Stirling and Edinburgh.
Its strategic acquisition of the long-established crematorium in Paisley and the significant planned investment will allow the business to increase its funeral and cremation services across the west of Scotland.
As part of the agreement, Fosters Family Funeral Directors will also have access to funding to support the continuation of wider organic growth plans.
The deal team was led by Stuart McAleese and Iain Duff, Barclays, Scotland.
Liam Bain, Finance Director at Fosters Family Funeral Directors, said: “We’ve been extremely impressed with Barclays’ ability to truly understand our business, and create a package tailored for us with minimal disruption to our day-to-day operations.
“The funding we have received will allow us to invest in new capital and locations across Scotland and bring affordable funerals to many communities all over the country.”
Jamie Grant, Head of Region Scotland & Northern Ireland, Barclays, Scotland, said: “We are pleased to have continued our support for Fosters Family Funeral Directors through this latest and important transaction.
“We look forward to continuing our close working relationship with the team as strategic banking partners providing solutions that assist with the execution of their exciting growth plans.”
