Yorkshire funeral planners expand following acquisition

A Yorkshire funeral plan provider has announced that it is planning for expansion following coming under new ownership.

Safe Hands, headquartered in Wakefield, has been acquired by private investment company SHP Capital Holdings.

SHP plans to grow the business, employing more staff, extending the product range and opening up new direct channels.

Safe Hands currently writes around 50 plans a day and holds more than £50 million in a trust managed by UBS, making it one of the largest providers in the funeral plan sector.

Its plans are mainly sold through its network of more than 400 active agents which include accountants, IFAs, funeral directors and estate planners.

Tom Gormanly, newly appointed CEO, commented: “The acquisition comes at a very challenging time for the industry which faces increased regulation and competition.

“The new investment will provide a much more stable future for the business, its staff and its customers.”

He also said that the company will be moving to new premises in Wakefield in order to accommodate its growth.