The BDO Transaction Services team provided financial, tax and IT due diligence to H2 Equity Partners (H2) and Investec for the private equity-backed MBO of Loughborough based pick-and-mix wholesaler Hancocks. Hancocks is the leading UK sweets and chocolates wholesaler to independent businesses; it operates from 18 cash and carries nationwide, a direct distribution business for food multiples, travel and entertainment businesses and an online wholesale sweets shop serving the UK. The MBO was led by Hancocks chief executive Mark Watson, who together with H2 plan to build on Hancocks' strong position in the market. H2 and management will work together to expand the depot network, continue to develop both the branded and own label ranges on offer and grow the online activities.
"BDO were a great asset to us in performing the transaction. They quickly understood what we required and offered us a wealth of knowledge and expertise to draw on. We developed a good relationship with the team at BDO from the outset, who worked closely with our management team throughout the entire process. I would be happy to recommend their services should I be asked to".
Mark Watson, Hancocks Chief Executive Officer