Back to Case Studies

Highly driven, intuitive and at all times focused on achieving the right deal for us

Jason Rickaby & Mark Bowering, Founders

Deal Value: £33m

Neil Worsley

Managing Partner

PhD Nutrition | November 2014

Convex Capital originated, led, structured and completed the sale of PhD Nutrition to B&B Investment Partners.

Manager of a specialised investment fund focused on consumer brands within the health and wellness, personal care, beauty and consumer healthcare sectors.

PhD is a leading and well recognised brand in the fast-growing sports nutrition market. The company was founded by Jason Rickaby and Mark Bowering in 2005 and has grown to become the country’s largest independent brands in sports nutrition. PhD has developed a multi-channel distribution model, which includes e-Commerce, wholesale, retail and grocery.

Convex Capital structured a deal that valued the business at 10x EBITDA and delivered 83% of the consideration on completion.

The Convex difference: achieving a strategic valuation for a market leading business, and maximising the cash element paid on completion

Back to Case Studies