Bagel Nash MBI wins Deal of the Month

THE management buy-in at Bagel Nash was the clear winner of the August Deal of the Month competition.

The judges overwhelmingly chose the deal which saw former Symingtons managing director Andy Micklethwaite take over the firm with backing from YFM Equity Partners.

Bagel Nash was established 24 years ago and operates a bakery producing 12m bagels every year that are exported to more than 20 countries.

It also operates coffee and bagel outlets in Yorkshire and the North West with the new management team planning to expand the chain further into the Midlands.

The judges said:

Robin Skelton, Eversheds: “Great to see Yorkshire PE investing in a Yorkshire business with a believable growth strategy. Bagel Nash is a well known brand and whilst MBIs are often thought of as more risky there is a proven track record here of a management team with past MBI experience.

Darren Forshaw, Endless: “Great to see a quality retailer being supported in its growth ambitions and it is an all-round Yorkshire deal as well.”

Jonathan Jones, Squire Sanders Hammonds: “A good local deal with a proven entrepreneur and Yorkshire PE house.”

Colin Stirling, Spirit Capital: “We need more of these locally based and locally advised deals happening to stimulate the regional deal market.”