DLA Piper has advised longstanding client, Dignity plc (Dignity), the UK's only listed provider of funeral related services, on a conditional sale and purchase agreement to acquire 36 locations from Laurel Funerals (Laurel) for £38 million.

Laurel is a funeral business which currently operates 83 locations across the UK. In order to avoid any potential competition concerns, Dignity will only acquire locations that complement its own geographic spread, and will not acquire 47 other locations, operated by Laurel, nor Laurel's head office function.

In addition, DLA Piper has advised Dignity on a £26.25 million debt facility with the Royal Bank of Scotland plc, which will be secured against the assets being acquired, together with certain other funeral assets operated outside of the Group's securitisation structure. Whilst not required to fund the acquisition the facility will provide an efficient and flexible source of additional funding for the Group if required.

Noel Haywood, head of the Birmingham Corporate team who led on the transaction, said: "We are delighted to have advised Dignity on another strategically important transaction, following our advising Dignity on its acquisition of Yew Holdings in 2013. The acquisition will support Dignity's continued growth as well as extending its funeral network"

The DLA Piper team was led by head of the Birmingham Corporate team, Noel Haywood and senior associate Nigel Cooke, alongside a team consisting of associates Simon Wright and Kirk Glenn. In addition, legal director Simon Hambly advised on real estate aspects and legal director James Crellin on finance aspects.