H2 Equity Partners supports MBO of Hancocks

Investec provided a senior debt and mezzanine financing package for the deal.

The new owners plan to expand the company's depot network in the UK and develop its own label range. Supplier agreements will stay in place following the acquisition.

Company
Hancocks was founded in 1962 by Ray Hancock, father of current chairman of the group, Andrew Hancock.

People
Following the transaction, Andrew and Adrian Hancock will leave the company. Mark Watson will remain in the position of CEO. Simon Gilbert led the deal for H2. James Stirling represented Investec.

Advisers
Equity – DLA Piper, Jonathan Watkins, James Kerrigan (Legal); BDO, Andry Harris, Richard Rose (Legal)
Company – Eversheds, James Travis, Louise Finnie, Vicky Gaskell (Legal); Cavendish Corporate Finance (Corporate finance).
Vendor – PricewaterhouseCoopers (Corporate finance).
Debt – Macfarlanes (Legal). 

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