Nisbets founder plotting £500m plus sale - report
By Michele Maatouk
Date: Monday 16 Jan 2023
(Sharecast News) - The founder of catering equipment supplier Nisbets is reportedly plotting a £500m-plus sale that would catapult his family into the ranks of Britain's super-rich.
According to Sky News, Andrew Nisbet, whose business has become a multinational distributor to the food-service sector, has instructed Goldman Sachs to sound out prospective buyers.
Any deal would be likely to value Nisbets at well in excess of £500m, with sales in 2021 of £420m showing a 34% increase on the previous year, Sky cited insiders as saying.
It was understood that a formal auction process is unlikely to get under way until much later in the year, and an alternative outcome such as a partial sale remains a possibility.
Sky said a stock market listing is not thought to be a focal point of Goldman's mandate.
Nisbet founded the company in 1983, and his family owns 100% of its equity.
If an outright sale does take place, it would deliver one of the biggest instant paydays to a British entrepreneur for years.
The company is understood to be debt-free, with earnings before interest, tax, depreciation and amortisation more than doubling in 2021, the last year for which results are available, to £42.6m.
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