TLT has advised mid-market private equity firm LDC on their investment in Cakesmiths – a Bristol-based award-winning manufacturer and supplier of artisan cakes – as part of its growth plan.

LDC specialises in partnering with management teams and offering long-term support to help businesses develop and grow. LDC has worked with over 650 management teams from diverse sectors across the UK - most recently backing the founders of milkshake brand Shaken Udder.

LDC’s investment will support the development of Cakesmiths’ management team – led by Managing Director Simon Harris and newly-appointed CEO Chris Ormrod – to build on its success to date.

TLT advised on all legal aspects of the investment. The deal team was led by corporate partner Andrew Webber, supported by Dan Whitewood, Irina Angliss, Philip Barratt (corporate), as well as Imogen Benson (banking and finance), John Smith (employment) and Edward Pitt (real estate).

Head of Corporate at TLT Andrew Webber said: “LDC backing the Cakesmiths’ management team is an important step that will help boost its growth and build on its successful culture and platform in what is becoming an increasingly busy market. It will also give the ongoing and incoming management team the resource and backing to further position themselves as leaders in the industry.

“We’re pleased to have supported LDC in this deal, drawing on our resources to transact quickly and support the growth of a local, independent business to bring more cake to more of us”.

Stefan Gunn, Investment Director at LDC: “We’re grateful for the help and support we received from the team at TLT. The advice from their experienced team was second-to-none throughout the deal. Cakesmiths’ success is a testament to the resilience of the business over the last two years and we’re looking forward to supporting the management team to deliver on their growth plans”.

LDC was also advised by EY (financial and tax advisory), Watersheds (financial advisory), RSM (financial and tax due diligence) and Hullbrook (commercial due diligence).

Date published

31 March 2022

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