Symprove, a leading manufacturer of probiotic supplements, is being groomed for a sale that is expected to fetch at least £250m.
Sky News has learnt that bd-capital, a British-based private equity firm, has appointed investment bankers at Jefferies to prepare an auction that is expected to result in a transaction taking place in 2025 at the earliest.
Symprove has benefited from growing consumer interest in gut health and its impact on their general physical and mental wellbeing.
Under bd-capital’s ownership, the company has grown to become Europe’s largest subscription business of its kind, with chief executive Will Bowler overseeing annual sales growth of over 40%.
The company says it produces the most scientifically robust probiotic products, offering effective treatment for sufferers of Irritable Bowel Syndrome (IBS) and the gastric symptoms of other diseases including Parkinson’s.
Symprove was launched by Barry Smith from his Surrey farm in 2010, having originally conceived of his water-based formula as a treatment for farm animals before deducing that it would also be beneficial to humans’ gut health.
The company is expected to generate roughly £30m in revenue this year, with profit margins of approximately 25%.
In 2020, it became the inaugural investment for bd-capital, with the valuation at which it acquired its stake not disclosed at the time.
Bd-capital was co-founded by Richard Baker, the former Boots chief executive, and Andy Dawson, a senior figure in the UK private equity industry from his time at Advent International.
On Wednesday, bd-capital declined to comment.
Recent Comments