YFM supports MBO of The Protein Works

Financial details of the transaction remain undisclosed, though YFM invested via Buyout Fund I, which held a final close in 2017 on £45m, surpassing its £30m target.

The deal is the eighth transaction made by the vehicle and brings it to more than 70% invested, according to a statement issued by the GP.

YFM has introduced former Community Foods director of finance and IPL International Procurement and Logistics business unit director Arvin Ghoora as finance director at The Protein Works as part of the deal.

The Protein Works will look to increase its international sales under its new owner.

Company
Founded in 2012 and headquartered in Runcorn, Cheshire, The Protein Works is a manufacturer and direct-to-customer distributor of protein powders, snacks, supplements and foods. The company sells its products internationally via its own e-commerce platform as well as through third-party distributors. It is anticipating revenues of around £13m in the current financial year, according to the statement.

People
YFM Equity Partners - Dan Freed, Andy Thomas (partners).
The Protein Works - Mark Coxhead (co-founder, CEO); Laura Keir (marketing director).

Advisers
Equity - Cowgills, Sam Davies (corporate finance); Pannone Corporate, Mark Winthorpe, Andy Walsh (legal); DSG, Iain White (financial due diligence); White Cap Consulting (commercial due diligence); OneFourZero (digital due diligence); Marsh (insurance due diligence).
Vendor - Spayne Lindsay, Paul Satchell (corporate finance); Shoosmiths, Crispin Bridges Webb, Gareth Cook (legal).
Management - DWF, Will Munday (legal).

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• United Kingdom
• YFM Group