North Atlantic Smlr Co Inv Tst PLC New Investment: Crest Foods
05 Febrero 2024 - 3:14AM
RNS Regulatory News
RNS Number : 0227C
North Atlantic Smlr Co Inv Tst PLC
05 February 2024
North Atlantic Smaller
Companies Investment Trust PLC
("NASCIT")
NASCIT is pleased to announce an
investment of approximately £26.6m ($33.7m) in Crest Foods,
comprising £17.9m ($22.7m) of equity and £8.7m ($11.0m) of 14.5%
Senior Subordinated loans, at a leverage ratio of 2.4x
EBITDA.
The principal business of Crest is
the manufacture and sale of dairy stabilisers (54% of sales),
contract food packaging (38% of sales) and outsourced packaged food
product development (8% of sales).
Crest's customers include both
branded and private label food companies.
Crest was acquired on a multiple of
6.5x trailing twelve months December 2023 EBITDA.
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