M&A Deal Summary

Elysian Capital Acquires Wholebake

On July 31, 2021, private equity firm Elysian Capital acquired food company Wholebake from Bridges Fund Management

Acquisition Highlights
  • This is Elysian Capital’s 1st transaction in the Food sector.
  • This is Elysian Capital’s 19th transaction in the United Kingdom.

M&A Deal Summary

Date 2021-07-31
Target Wholebake
Sector Food
Buyer(s) Elysian Capital
Sellers(s) Bridges Fund Management
Deal Type Secondary Buyout
Advisor(s) Grant Thornton Transaction Advisory
Ernst & Young Capital Advisors (Financial)
Addleshaw Goddard (Legal)

Target

Wholebake

Denbighshire, United Kingdom
Wholebake is a manufacturer of healthy gluten-free snacking products. Wholebake's current portfolio includes a variety of product types including weight management, sports nutrition, toddler snacking, healthy indulgence, vegan-friendly, digestive health, and mainstream better-for-you brands. Wholebake was founded in 1984 and is based in Denbighshire, United Kingdom.

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Buyer(S) 1

Buyer

Elysian Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 700M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Elysian Capital LLP is an independent private equity firm that targets management buyouts of growing, profitable businesses throughout the UK. Elysian focuses on lower mid-market companies valued between £20 and £100 million. Sectors of interest include healthcare, local and central government, consumer/retail, utilities/renewable and financial/support services. Elysian Capital LLP was formed in 2007 and is based in London.


DEAL STATS #
Overall 20 of 26
Sector: Food M&A 1 of 1
Type: Secondary Buyout M&A Deals 5 of 7
Country: United Kingdom M&A 19 of 24
Year: 2021 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Eton Bridge Partners

Windsor, United Kingdom

Eton Bridge Partners is an Executive Search, Interim Management and Consulting firm with specialist practices covering the breadth of corporate leadership. Eton Bridge Partners was founded in 2010 and is based in Windsor, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 Cross Rental Services

Andover, United Kingdom

Cross Rental Services provides specialist, mission-critical cooling and heating equipment and services on a rental basis to a variety of end markets across both Ireland and the UK. The business comprises two divisions: Refrigeration & Catering Solutions (‘R&CS’) and Climate Control Solutions (‘CCS’). The R&CS division provides a fully managed turn-key service for a range of commercial refrigeration and catering assets, with a market-leading position for long-term retail refrigeration rental in the UK and Ireland. The CCS division provides a large base of blue-chip customers with heating and cooling solutions, focusing primarily on chillers, boilers, heaters, and air-conditioning, with a specialization in technically complex products which are used for high-criticality applications. Cross Rental Services is based in Andover, United Kingdom.

Buy -

Seller(S) 1

SELLER

Bridges Fund Management

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2002
PE ASSETS 1.7B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Bridges Fund Management is a specialist sustainable and impact investment firm that focuses on three primary investment strategies—Sustainable Growth Equity, Sustainable Real Estate, and Social Sector Funds—targeting opportunities aligned with themes like healthier lives, future skills, sustainable planet, and stronger communities, where social or environmental impact aligns with financial value creation. Bridges Fund Management was formed in 2002 and is based in London.


DEAL STATS #
Overall 2 of 7
Sector: Food M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 5
Country: United Kingdom M&A 2 of 6
Year: 2021 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-05 World of Books

West Sussex, United Kingdom

World of Books sells used books online to over 190 countries worldwide. Its inventory has grown to over 7 million items in stock, and it sells a book somewhere in the world every two seconds. World of Books was founded in 2008 and is based in West Sussex, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-20 VetUK

Thirsk , United Kingdom

VetUK operates eight large clinics across the UK, offering a comprehensive range of leading pet health services at competitive prices. VetUK was established in 2013 and is based in Thirsk, United Kingdom.

Sell -