Private Equity Acquisition
Retail & Leisure
Spayne Lindsay & Co. advises Symprove on its sale to bd-capital
Spayne Lindsay is delighted to announce that it has advised Symprove, the scientifically-proven, direct-to-consumer brand disrupting the £35bn probiotics market, on the sale of a majority stake to bd-capital.
Symprove is a liquid supplement containing live, active multi-strain bacteria. Its patented delivery system allows the bacteria to “arrive, survive and thrive” in the gut, and has been recognised as uniquely effective by some of the world’s leading academics.
Interest in how to improve gut health has grown exponentially in recent years, as advances in scientific research and medicine have continued to uncover how the diversity and balance of bacteria in the microbiome affects many conditions – not only gut conditions such as IBS and IBD, but also Parkinson’s and dementia, cardiovascular conditions, mood and mental health.
Today, Symprove’s daily-use, subscription product is sold primarily through its direct-to-consumer website and is growing at more than 50% year-on-year through word-of-mouth and recommendations from doctors and nutritionists.
bd-capital was carefully selected as Symprove’s new partner based on its operationally-led approach to partnering with businesses where changing patterns of consumer behavior and technology disruption create growth opportunities.
Barry Smith, Founder of Symprove, commented:
“The team at Spayne Lindsay are engaged and fully understand this sector. We first met Spayne Lindsay in 2015 and since then they have been with us every step of the way. The team provided advice on where we needed to be as a direct-to-consumer fast-growth brand and met with us regularly, helping us to tell our story.
Our involvement with Spayne Lindsay started to pick up pace in 2019 and they managed a very smooth investment process from start to finish. By the end of the process they knew more about my business than I did.
A brilliantly managed project, with a 100% trustworthy team, who believed in us and gave un-compromised support. I could not recommend them highly enough.”
Mike Butler, CEO of Symprove, commented:
“The management of Symprove are delighted to have worked with Spayne Lindsay throughout this transaction. From our first discussions, the sound guidance and deep understanding of the business needs and requirements were first rate. Their connections in the sector and understanding of the business models and relationships with the investor universe proved hugely valuable.
The Spayne Lindsay team were a pleasure to work with, they were fully engaged at all levels throughout and did a prodigious amount of work to support and guide us to a very successful outcome.”