PEM Corporate Finance advised Prestige Purchasing on their Management Buyout (MBO).
PEM Corporate Finance were appointed by Prestige Purchasing to assist with the Management Buyout (MBO). Philip Olagunju supported the vendors throughout the negotiation process.
Since inception in 1997, Prestige Purchasing established themselves as a quality procurement provider, leading them to become the largest independent provider of procurement service to the foodservice sector.
PEMCF worked closely alongside the PEM Business Tax team and Buckles to advise on deal structuring and the legal framework to complete a great deal for all parties in a very quick timeframe.
The transaction saw a new company formed to acquire Prestige Purchasing, allowing the existing majority shareholder to significantly reduce their ownership stake, and for the management team to assume control and majority ownership.
Legal advice for the MBO team was provided by Nichola Stephens and Alastair Gunn from Buckles.
Legal advice to the vendors was provided by Philips Dempsey.