Trowers & Hamlins advises Cakesmiths' management team on LDC investment
Top 40 law firm Trowers & Hamlins has advised the management team of Cakesmiths, an independent manufacturer and supplier of artisan handmade cakes, which has secured investment from leading mid-market private equity firm LDC to support the next stage of its growth journey.
Bristol-based Cakesmiths supplies its range to a number of independent customers across the UK through its direct-to-market online platform.
The business caters to a wide range of palates, including a broad vegan and very-low gluten range – plus it prides itself on exciting innovation and limited edition ‘small batch’ runs. Eight products received Great Taste Awards in 2021, including Billionaire’s Shortbread, Persian Love Loaf and Ultimate Carrot Cake. The company also uses industry-leading reusable and recyclable packaging to keep its products fresh when being transported to customers.
LDC is backing the management team – led by Managing Director Simon Harris and newly-appointed CEO Chris Ormrod – to continue to build on its success to date which has been made possible through its focus on creating a culture of involved employees, simply making great products.
LDC has a strong heritage of supporting the management teams of leading FMCG sector brands to grow their businesses. This includes backing the founders of premium drink mixer producer Fever-Tree and, most recently, the founders of the UK’s number one premium milkshake brand Shaken Udder.
Simon Harris, Managing Director of Cakesmiths, said:
“I’m very pleased to be partnering with an investor that is management-focused and backs our plans to provide more amazing cakes to even more people. Our employees are central to making Cakesmiths a special place to work - and this investment allows us to continue to recruit and grow for the future.
CEO Chris Ormrod added:
“I am looking forward to becoming part of the Cakesmiths team and working with Simon and our new partners at LDC. This is an exciting time for the business – we are seeing strong demand from customers up and down the country and we are developing great tasting products to accelerate that growth.
I thoroughly enjoyed working with Stuart and the Trowers & Hamlins team. All deals have their moments, but their guidance, advice and general process management is always invaluable in getting us over the line."
Corporate Partner, Stuart Mathews, led the team from Trowers & Hamlins advising the management team. Stuart commented:
"Having worked with Chris for a number of years, it has been a pleasure to advise Chris and the existing management team as they embark on what promises to be an exciting growth journey at Cakesmiths."