Pamplona Capital Management has made its fourth investment from its TMT Fund to acquire a majority stake in obituary services business Legacy.com.
The Chicago-based company provides obituary-related products and services for newspapers and funeral homes, and has more than 43 million monthly visitors according to the company.
Legacy.com said it was continuing to expand operations in Los Angeles, with the office helping to design next generation products and services for online memorialisation.
This investment comes after more than a decade of double-digit growth for the company and with the capital it hopes to improve in product innovation and its partner network.
Pamplona Partner Hiren Mankodi said, “The company’s singular focus on the growth of this category has resulted in winning the long-term trust of some the largest news media companies and funeral home partners.
“Legacy.com provides daily management and growth for obituary-related revenue to its partners with unmatched know-how in the space, consistently expanding reach, engagement, and value, resulting in superior monetization with award-winning customer service.”
Pamplona TMT I closed on $1bn last year, with it expected to make 12 to 15 investments.
Other investments made by the fund were to internet performance management company Dyn, cloud automation and managed services provider Logicworks and industrial instrumentation acquisitions platform business Nova Science.