Moorcrofts advised the vendor shareholders of Mintec, the leading provider of global pricing data and intelligence for non-traded food ingredients, on the sale of the company as part of a management buyout supported by Synova Capital.
Adrian Phillips (corporate partner) and Peter Woolley (corporate partner) led the transaction, with support from Kate Prentis (corporate associate), Tim Astley (commercial / IT associate) and Julia Ferguson (commercial property associate).
Mintec was founded by Vlad Peksa in 1982, and his sons Ivor and Nick also played key roles in the development of the business.
The Mintec cloud-based SaaS platform aggregates over 10,000 data series on raw commodity prices and releases over 1 million data points each year. Mintec’s pricing intelligence forms an integral part of pricing negotiation and budget preparation for over 400 customers including 18 of the world’s top 20 food retailers and 12 of the world’s top 20 food manufacturers. Customers include Tesco, Albertsons, Unilever and Mars.
Ivor Peksa, former managing director of Mintec said: “I am tremendously proud of what my family has achieved at Mintec. Vlad took an idea way ahead of its time in 1982 and with Nick’s and my efforts, we created a market-leading, worldwide enterprise employing over 60 people. Procurement has changed immeasurably in the past 35 years and I believe Mintec was an important part of that. I wish Mintec all the best in its next chapter, and with Synova’s backing, it has the right partner for further growth and innovation. Thanks very much to the Moorcrofts team for all of their hard work, assistance and advice on the sale process. It was a pleasure to work with such pro-active, professional advisors, particularly as they were so understanding of our interests, needs and concerns.”
Peter Woolley, Moorcrofts corporate partner, commented: “Moorcrofts was delighted to act for the vendor shareholders on the sale of the company. This was an interesting and rewarding transaction, and I’m sure that Mintec will continue to flourish, with Synova’s support. We wish both the vendor shareholders and Mintec the best of luck with the future.”
Other professional advisers on the transaction included Osborne Clarke LLP (acted for Synova and the purchaser) and Edwin Smith Chartered Accountants (acted for the vendor shareholders).