YFM Equity Partners, the specialist private equity fund manager has backed the MBO of The Protein Works from B&B Investment Partners.
Dan Freed and Andy Thomas lead the investment for YFM and this announcement marks the 8th investment from YFM’s Buyout Fund I taking it past 70% invested.
Founded in 2012, The Protein Works is a direct-to-consumer sports nutrition business that sells a wide range of protein powders, snacks, supplements, and foods, manufactured at their 34,000 square foot facility in Runcorn, Cheshire. The business has won several awards including New Business of the Year 2014 at the National Business Awards.
Consumers in the UK and the EU can buy directly from The Protein Works through their website, and the business sells to markets across the globe via a network of international distributors. The company has enjoyed a sustained period of growth, buoyed by the development of a leading vegan range, unique snacks from its in-house protein bakery and best of breed flavours. It now expects to reach £13m of sales this year.
The business is run by CEO Mark Coxhead, who co-founded the business, and Marketing Director Laura Keir. As part of the transaction, Arvin Ghoora will join the business as Finance Director. The team plan to make further board appointments in the coming months as the business gears up for further growth.
Andy Thomas, Partner at YFM said: “The Protein Works is ideally placed to serve customers seeking to make protein and other healthy supplements part of their everyday lifestyle. The team have developed an exciting proposition that consumers can trust, and we’re looking forward to working with them to grow the brand, both in the UK and globally. YFM is delighted to be part of The Protein Works team.”
Mark Coxhead, co-founder and Managing Director added: “It’s a very exciting time at The Protein Works as we embark on a new phase of expansion. The brand’s premium range of products have been well received in diverse markets and cultures around the world, illustrating its incredible potential. Partnering with YFM will help us to make this unique brand truly global and give millions more the opportunity to snack healthy on everything from Protein Crunkies to Loaded Nut Butters.”