The Big Prawn Co.
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.
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.
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.
Food & Beverage
Debt Funded MBO