Allicio Nutrition Limited
Posted: 20th March 2024 | Share
Leumi ABL is delighted to announce that it has facilitated a £multi-million Corporate Carve Out of Ornua Nutrition Ingredients Limited, now rebranded under new ownership as Allicio Nutrition Limited (Allicio.com). The business is a leading supplier of blended nutritional powders and supplements to a high quality customer base.
Having been owned by an international dairy conglomerate for over 15 years, the business became part of a wider divestment programme of certain non-core assets that would benefit from an energised re-focused strategy under new ownership.
The acquisition was completed by sector specialist Roger Wertheim-Aymes, founder of established nutritional products manufacturer, AYMES International Limited (Aymes.com). In addition to enhancing manufacturing capability, Allicio will deliver continued operational excellence.
Leumi provided Asset Backed Facilities on Receivables, Inventory and Plant & Machinery that, post-completion, generate working capital liquidity to support the growth aspirations of the business.
Roger Wertheim-Aymes, CEO of Allicio Nutrition, commented: “Leumi have provided a mix of revolving and term debt to meet our acquisition and ongoing funding requirements. It was a complex transaction that required detailed understanding and input from Leumi to facilitate completion in timely fashion to ensure operational continuity and retention of all staff in the business. All stakeholders in the transaction are highly satisfied with the outcome.”
FRP Debt Advisory Partner, Andy Dimmock, said: “FRP was delighted to provide integrated Debt Advisory and Corporate Finance advice to Roger Wertheim-Aymes and his team and wish Allicio every future success. It was also a pleasure to work with Martin Risman and the Leumi ABL team to structure the transactional funding, with the ABL facility generating significant liquidity to enable Allicio to drive the business forward and achieve its goals.
Leumi Regional Sales Director, Martin Risman, said; “It has been a complex and detailed process that has protected the interests of both the seller and acquirer. Roger Wertheim-Aymes and his excellent team have acquired a highly complementary business with an experienced, knowledgable workforce through divestment of a non-core Corporate asset whilst protecting loyal employees in the process. It has been a successful transaction for all concerned.”
Debt Advisory and Corporate Finance advice was provided by FRP Advisory with legal support provided by DMH Stallard (Leumi) and Mills and Reeve (AYMES).