Commenting on the deal, Oliver Peabody, Managing Director, Bio8 said:
“We are delighted to have completed on the deal and excited to start growing the business once more. We look forward to doubling down on our values and providing high quality, thoughtful solutions to the home and garden industry.
SME Capital have been great to work with throughout the process of the deal and very supportive along the way. We look forward to working with them over the coming years.”
Stuart Watson, Regional Director, SME Capital added:
“Bio8 is an excellent business, whose ‘Envii’ brand has strong market recognition & has become synonymous with quality and environmentally friendly products & excellent customer service. The MBO has been well planned to continue the further growth of the business.
We have been pleased to support Oliver & his team with a 5-year loan including both a capital repayment holiday & bullet repayment structure to help with the hand over & maximise cash headroom given the current macro-economic uncertainty.
This is an excellent introduction from Jessica Bradbury at CF advisors, Camlee Group. Thanks to all involved particularly Matt Ingram & team at Squire Patton Boggs.”
Jessica Bradbury of Camlee Group, said:
“Andrew and Michelle have built a highly successful business, central to which is its ability to operate in a customer-orientated, flexible and innovative way. It was evident from the start that they greatly value the staff that have helped them to build the business to its present point, particularly Oliver who has played a pivotal role in its development.
An MBO was a clear solution to achieve both parties’ objectives, while preserving the core values that have made the Envii brand so strong in the market. Once the deal was agreed in principle, we approached SME who worked very quickly and collaboratively on a funding offer. We’re delighted to have assisted in delivering the transaction and look forward to seeing the business go from strength to strength in the coming years.”
If you would like to discuss MBO financing in more detail or our wider funding capabilities do get in touch.
About SME Capital
SME Capital was founded to support the growing number of SMEs who face difficulty or frustration in accessing capital through traditional methods. We understand the importance of real and trusted relationships in the SME lending market and have dedicated Regional Directors based across the UK. By combining traditional lending expertise with the latest in data analytics, we are supporting established UK SMEs with their long-term objectives and business ambitions.
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