HOFI

What HOFI does

HOFI S.p.A. (Holding Funeraria Italiana) is a privately held Italian investment holding company founded in 2019 and headquartered in Milan (Park West, Via Bisceglie 66) that consolidates the fragmented Italian funeral services sector through an acquisition-driven roll-up strategy. The group acquires majority stakes, typically 60%, in established regional funeral service companies, retaining each acquired company's local brand identity and entrepreneurial leadership while providing centralized corporate services spanning administration, legal, fiscal compliance, HR training, and communications. HOFI is controlled by institutional investors Antin Infrastructure Partners, Augens Capital, and Columbia Threadneedle, alongside members of the management team (including Andrea Cerato) and founding families (Lorandi, Oliva, and Pedretti), with Marco Mantica serving as President.

The group operates two core service lines. Onoranze Funebri delivers traditional funeral arrangement services (body transport, ceremony organization, administrative support) through a portfolio of approximately 35 Case Funerarie and 180 local operational units spanning five Italian regions (Lombardy, Piedmont, Tuscany, Lazio, Friuli Venezia Giulia), executing more than 16,000 services annually under retained regional brands such as San Siro, Bertini, Cellini, Garda, Lupotti, and Generali. Cremazione e Servizi Cimiteriali operates cremation infrastructure through Eco Fly S.p.A. (Pavia crematorium plus partnerships in Varese, Bergamo, and Biella) and SILVE S.r.l. (70%-owned, acquired July 2025, with crematoriums in Florence, Siena, Viterbo, and Udine under construction), targeting an Italian cremation market projected to exceed 50% incidence by 2040.

HOFI generates revenue primarily through one-time service fees for funeral arrangements and through professional-service and project-financing arrangements for cremation and cemetery infrastructure, including votive lamp systems contracted with Italian municipalities. The go-to-market model is enterprise field sales, driven by proprietary deal sourcing of succession-motivated regional funeral operators and supported by participation in industry trade events such as Memoria Expo 2025. Pricing is not publicly disclosed and is influenced by regulated municipal contracts. Technology differentiation centers on operational processes (traceability, safety, and certification of cremation operations) and shared administrative/management systems across the group, with no proprietary AI/ML platform or consumer-facing digital product currently in evidence.

Name

HOFI

Legal name

HOFI S.p.A.

Website

https://hofispa.com

Company type

Private

Founded year

2019

Operating status

Operating

Short description

HOFI S.p.A. is a Milan-based investment holding company that consolidates Italy's fragmented funeral services market by acquiring majority stakes in regional funeral homes and cremation operators, preserving local brands while providing institutional backing and centralized corporate services across 35 funeral homes and five regions.

Ownership category

akta.pro rank

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Funeral Services (Onoranze Funebri): HOFI generates revenue through a network of approximately 35 funeral homes (Case Funerarie) across 5 Italian regions, delivering approximately 16,000 services annually. Each subsidiary provides funeral arrangement services under its own regional brand, with centralized corporate support from HOFI's holding structure.
2. Cremation and Cemetery Services: Through SILVE (70%-owned) and Eco Fly (subsidiary), HOFI operates crematoriums and provides cemetery services. SILVE manages crematoriums in Florence, Siena, Viterbo, and is developing one in Udine. Eco Fly operates the Pavia crematorium and is a partner in Varese, Bergamo, and Biella. Revenue is generated through cremation fees and cemetery infrastructure management (including votive lamp systems in project financing arrangements with Italian municipalities).

Go-to-market motion3 records

Distribution channels2 records

Marketing channels3 records

Core offering

HOFI S.p.A. (Holding Funeraria Italiana) is an Italian investment holding company that consolidates the fragmented Italian funeral services sector. It operates approximately 35 funeral homes across five Italian regions, delivering end-of-life services to families. The group provides two principal service lines: Onoranze Funebri (funeral services) and Cremazione e Servizi Cimiteriali (cremation and cemetery services), handling roughly 16,000 services annually through wholly owned subsidiaries and regional acquired brands.

Product overview

HOFI S.p.A. (Holding Funeraria Italiana) is an Italian institutional investment holding company that consolidates the funeral services sector through a multi-brand portfolio strategy. The group operates through two main service lines: Onoranze Funebri (funeral services) and Cremazione e Servizi Cimiteriali (cremation and cemetery services). It controls numerous subsidiary and acquired brands (AROF, Aurora, Onoranze Funebri B.M., Bertini, Bollatese, Bondoni, Cabassi, Camporese, Cellini, Cipriani, COF, Concordia, Cuoghi, Eccellenze Funerarie Frè, Garda e Dalberto, Generali, Generali di Brescia, Sala, La Cattolica, La Funeraria, Le Muse, Lupotti, Salvatore Monieri, Naof, Pertusi, Pieroni, San Siro, San Carlo, Sant'Anna, Santa Rita, Serpi, SIOF & Lomellina, Terenzio, Terracielo, TSF Mantova, TSF, Umana, Veroni, Versiglia) and cremation infrastructure subsidiaries including SILVE S.r.l. (70% owned, operating cremation temples in Tuscany, Lazio, and Friuli Venezia Giulia) and Eco Fly S.p.A. (concessionaire of the Pavia crematorium and partner for crematoriums in Varese, Bergamo, and Biella). As of 2025, the group operates approximately 35 funeral homes (Case Funerarie) and 180 local units across 5 Italian regions, delivering over 16,000 services annually.

Differentiator

Problem solved

Functional benefit

Brands

• HOFI: The primary commercial brand and holding company name, representing Italy's first institutional-capital-backed funeral services consolidation group.
• Holding Funeraria Italiana

Products and services

• Onoranze Funebri
• Cremazione e Servizi Cimiteriali

Quantifiable outcome

• 16,000+ annual services organized across the network
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• SILVE S.r.l.coreStrategic or Co-development Partner · 3 July 2025HOFI S.p.A. and the Rossi family completed a strategic partnership in July 2025, with HOFI acquiring 70% of SILVE while the Rossi family retains 30% and becomes a HOFI investor. SILVE, founded in 1920, operates crematoriums in Florence and Siena (Tuscany), Viterbo (Lazio), and is building a crematorium in Udine (Friuli Venezia Giulia). SILVE also develops votive lamp systems and cemetery services in project financing arrangements with Italian municipalities. Alberto Rossi serves as chairman with Giacomo and Bernardo Rossi as managing directors. The partnership aims to develop the cremation and cemetery services sector across Italy, with cremation incidence projected to exceed 50% by 2040.
• Onoranze Funebri Garda e Dalberto S.r.l.coreStrategic or Co-development Partner · 3 December 2024HOFI acquired 60% of Onoranze Funebri Garda e Dalberto S.r.l., a funeral services provider in Ivrea, Piedmont. The Paglia family retains a stake and Riccardo Paglia continues as managing director, preserving the company's entrepreneurial continuity. Garda operated approximately 250 services in 2023 with revenue exceeding EUR 1.0 million, serving the Canavese area in the province of Turin. The acquisition expands HOFI's presence in Piedmont following the prior acquisition of Lupotti in Moncalieri.
• Eco Fly S.p.A.coreStrategic or Co-development PartnerEco Fly S.p.A. is a HOFI subsidiary operating the crematorium in Pavia and serving as a partner in crematoriums in Varese, Bergamo, and Biella. Eco Fly represents HOFI's existing cremation infrastructure, which is being expanded through the SILVE partnership.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• OGF: OGF is one of the largest French funeral services groups, providing funeral arrangements, cremation, and cemetery services through a nationwide network. Comparable to HOFI in operating model (network of regional funeral homes) and end-of-life service portfolio.
• Dignity plc: Dignity plc is a UK-listed funeral services operator running a network of funeral homes and crematoria across the United Kingdom. Comparable to HOFI as a publicly benchmarked multi-region funeral services platform with both traditional and cremation offerings.
• Funecap: Funecap is a leading French funeral services consolidator backed by private equity, operating a multi-brand portfolio of funeral homes, crematoria, and cemetery services across France. It is the closest direct analog to HOFI's federated, M&A-led consolidation model in another European market.
• Co-op Funeralcare: Co-op Funeralcare is the funeral services division of the UK Co-operative Group, operating one of the largest funeral home networks in the UK including crematoria. Comparable to HOFI in scale, geographic coverage within a single country, and integrated funeral/cremation service offering.

Broad incumbents

• Carriage Services: Carriage Services is a US-listed provider of funeral and cemetery services with a decentralized operating model. Comparable to HOFI in multi-brand, locally operated service delivery within death care, though in a more mature and consolidated North American market.
• Service Corporation International: Service Corporation International (SCI) is the largest funeral services and cemetery operator in North America with global exposure. Comparable to HOFI as a broader industry incumbent in death care services, though materially larger and operating a different geographic and regulatory market.

Regional players

• Inhumana: Inhumana is a Spanish funeral services group operating funeral homes and related end-of-life services across Spain. Comparable to HOFI as a Southern European regional consolidator in the death care sector with overlapping service lines (funeral, cremation, cemetery).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hofispa

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HOFI