Apera Capital backs refinancing of LDC's Seabrook
Direct lender Apera Capital has provided a unitranche debt facility for the refinancing of LDC portfolio company Seabrook Crisps.
LDC mandated Apera to provide facilities aggregating £23.5m to support Seabrook's growth strategy, including new investment in product development.
LDC's original acquisition in July 2015 was backed by a senior debt package arranged by Clydesdale and Yorkshire Bank. The deal was thought to be worth £35m, 13.5x the company's £2.6m EBIT from £27m in sales.
Company
Founded in 1945, Seabrook produces crinkle-cut, straight-cut and hand-cooked lattice crisps, as well as low-calorie snacks. The company is headquartered in Bradford, Yorkshire, and employs 150 people.
People
Apera Capital – David Wilmot (partner).
Seabrook Crisps – Daniel Woodwards (CEO).
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