HOFI

HOFI is a holding company founded by Augens Capital in 2019 with the aim to consolidate the Italian funeral service sector.

HOFI's consolidation began with the acquisition of Impresa San Siro, the leading provider of funeral services in Italy and the reference player in the city of Milan, with a market share in excess of 20%.

In 2022, after three years of strong organic and M&A-driven growth, Antin Infrastructure Partners invested in HOFI with the aim to support the company in pursuing an ambitious development plan through sector consolidation.

Investment thesis

• Our objective is to create the first Italian funeral service group backed by institutional capital, in order to support a process of consolidation in the extremely fragmented Italian market.
• This development strategy is inspired by several other success stories in other European countries.
• Being the largest player in the Italian market, San Siro represents the ideal starting point for this sector consolidation process in Italy.

Achievements

• HOFI has already performed over fifty add-on acquisitions in Lombardia, Emilia-Romagna, Veneto, Trentino, Marche, Umbria and Friuli-Venezia Giulia, and is continuously evaluating other potential add-on targets throughout Northern Italy.
• In 2021, HOFI created a new division dedicated to cremation and cemetery services, through the acquisition of Eco Fly. The division was further strengthened in 2025 with the acquisition of Silve.