The Big Prawn Co.

The Business

Formed in 1998, Big Prawn is a leading supplier of high quality seafood and shellfish to retailers and food service businesses across the UK.

Headquartered from a purpose built facility in Norfolk, the business provides an award winning range of own branded and branded products, underpinned by continuous innovative new product development, to the majority of the leading retailers in the UK.

Big Prawn’s last accounts reported revenues and adjusted EBITDA of £37.6m and £2.1m respectively.

The Deal

A debt funded MBO with founding shareholders securing a partial exit, with significant levels of cash out and ring fenced consideration.

Founding shareholders retained a significant equity stake, remaining the largest shareholders in the business on a future exit.

Significant working capital facilities were secured with HSBC, allowing the business to continue to accelerate its exciting growth plans.

Value Add

Designing and advising on an attractive MBO structure and obtaining requisite tax clearances to ensure shareholders obtained Entrepreneurs’ Relief.

Preparing and stress testing a fully integrated financial forecast, presenting the business to its funder, leading negotiations to secure a credit backed funding offer and project managing the external due diligence process.

Advising on the commercial and tax aspects of the deal and acting as lead adviser throughout the process to drive the deal to a very successful outcome.

Location

Norfolk

Sector

Food & Beverage

Deal

Debt Funded MBO

Big Prawn Co Logo Big Prawn Co Logo

On recommendations from HSBC, we opened discussions with JDC, who promised a hands on approach with no shortage of effort and time. I can honestly say they did not let us down; they were professional, extremely attentive and supportive. They found the right solutions and engaged relentlessly with the management team, banks and lawyers to achieve a smooth conclusion. I very much enjoyed working with the JDC team and have every intention of continuing with this relationship. Thank you JDC.

Sean O’Hanlon Founder of Big Prawn Co