ANPRO provides Operational Due Diligence as Hermes acquires Symingtons in MBI

As covered in the October issue of Corporate UK, ANPRO recently provided operational due diligence in connection with the acquisition of UK food manufacturer Symingtons. David Salkeld and Henrik Pade, the new Chief Executive and Marketing Director respectively, led the buy-in, backed by Hermes Private Equity. 
Symingtons is a successful, dynamic and growing business, with leading brands and a retail own-label presence in the ambient foods sector, which consists of instant soup, rice, dried pasta, cous cous and hot snacks amongst others.

ANPRO undertook in-depth manufacturing due diligence during pre- and post-exclusivity phases and will now be assisting the management team at Symingtons with building their manufacturing capability and efficiencies. 
David Salkeld, Symingtons Chief Executive said:

"Using ANPRO to undertake operational due diligence solved a number of problems for the acquisition team. They not only validated the data provided by the vendors, but they also highlighted and helped us plan a range of improvement opportunities post-acquisition. Whichever transaction partners ANPRO worked with, the vendor representatives, my acquisition team, bankers and other diligence partners, I was consistently receiving positive feedback about the professionalism of their work.

This meant I could relax and focus on leading the acquisition effort, with confidence in ANPRO's ability to support us pre-exclusivity, post-exclusivity and latterly post-acquisition."
Stuart Nicholson, Symingtons Operations Director continues:

"As operations director at Symingtons, going through the recent due diligence and acquisition process was extremely demanding. As a stakeholder in the previous ownership structure and now a stakeholder in the new MBI, it was important to me that "external" third parties running the rule over the company didn't disrupt the day to day operation of the business.

ANPRO worked with speed and efficiency during the "operational due diligence" period, interacting well at all levels within our organisation.  Their examination of performance and improvement opportunities was credible, independent and robust.  During "exclusivity" ANPRO helped design a range of post-acquisition improvement initiatives, working closely with the whole Operations team here at Symingtons.

Since the transaction we have decided to continue working with ANPRO to accelerate the delivery of these improvements, where they are providing hands-on project management resources and shop-floor systems training.  They have also provided some interim management support to help us successfully integrate a recent acquisition.
Despite any natural and healthy scepticism about "consultants", our collaboration has worked well and ANPRO's low-key "partnership" approach has been well received across the business."

Click here to view the Corporate UK article
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