TLT has advised the management team at Vital Ingredient, a leading healthy food-to-go retailer, on its buyout by LDC, the mid-market private equity firm which is part of Lloyds Banking Group.
Vital Ingredient was founded by Alex Heynes in London's West End 15 years ago and has more than doubled turnover in the last three years to over £12 million. LDC are backing management to more than double the estate, which currently has 17 stores in London, within the next three years to at least 35 stores. The team includes Paolo Peretti, Managing Director and John Moulton, Finance Director, with Graham Turner, ex-CEO of Tragus, also joining the board as Chairman.
The TLT team was led by corporate partner Jon Gill and corporate solicitor, Thomas Rees.
TLT's Jon Gill said: "We were delighted to be able to support Alex, John, Paolo and Graham in securing this investment to enable them to deliver their plans for growth. The private equity market continues to be extremely active on a national scale, and investment propositions that follow trends such as healthy eating are particularly sought after. The transaction was a great fit with TLT's experience in the retail sector and the wider private equity market, and we wish the team every success in their new partnership with LDC."
Vital Ingredient's Alex Heynes, said: "Jon Gill and his team at TLT were there for our management team every step of the way and provided clear and practical advice throughout. We are excited by the opportunity to maximise the potential of Vital Ingredient with LDC and Santander’s support in providing a solid financial platform for further growth."
TLT has extensive experience advising clients on private equity. The team of specialists advise on a broad range of issues affecting investors, from mid-market buy-out houses through to venture capital funds, venture capital trusts and business angels.