Simpson Thacher represented Sereni, a portfolio company backed by Netley Capital, Around Partners and Vermec NV, in connection with the refinancing of Sereni’s existing indebtedness. The financing is provided by funds controlled by Pemberton Asset Management. The transaction closed on June 2, 2025.
Headquartered in Antwerp, Belgium, Sereni is a fast-growing funeral services platform spearheading the consolidation of the highly fragmented markets in Belgium Germany, and Poland, supported by a track record of successful acquisitions of independent practices. Founded in 2016, Sereni was created with the dual vision of (i) creating a leading consolidator in the market and (ii) enhancing the customer experience and quality of service in an evolving funeral services sector. Sereni expanded progressively via the roll-up of independent funeral service providers, initially in Belgium and expanded to Germany and Poland, to become a leading consolidating platform in the sector. Today, the Group is the top 2 player in both Belgium and Germany, delivering over 38,000 funeral services per annum, across over 222 locations.
Netley focuses on large minority or majority stakes in European buy-and-build platforms with generational growth potential for long-term investments. The firm invests in funds targeting top-quartile European lower-mid market managers with a buy-and-build focus and long-term outlook as well as leading flagship secondary funds. Netley’s direct investments are primarily in the services, healthcare and technology sectors, often via continuation vehicles of their primary managers.
Around Partners is a private investment firm that invests in & develops fast-growing platform companies, driving long-term growth in service-oriented sectors. The firm creates pan-European businesses with a meaningful market share through a buy-and-build strategy. The focus is on small and medium-sized businesses and entrepreneurs that benefit from the network-effect of the existing portfolio companies.
Vermec focuses on businesses with the potential to consolidate (roll-outs or roll-ups) in various sectors. The family office focuses on healthy companies led by passionate entrepreneurs seeking collaboration, providing both operational and financial support throughout the partnership. Through direct investments Vermec is targeting opportunities with a potential long-term growth.
Pemberton Asset Management is a leading European private credit manager with more than $26 billion assets under management. Built on more than a decade of experience and industry-leading credit expertise, Pemberton provides innovative, cycle-tested private credit solutions for LPs and GPs.
The Simpson Thacher team included Hadrien Servais, Jacob Durkin, Eline Souffriau and Kacper Sztejter (Credit).