Arnav Kaduskar

Given the business’ ambitious growth plans, Omlet’s management recognised it needed external investment to grow the business long-term.

When considering who to lean on from an advisor perspective, Omlet, already being supported on outsourcing and tax services by BDO, looked to engage the corporate finance capabilities of the firm, aware that BDO had the breadth of services and global scale it would require over the long-term.

Specifically, the founders required an advisory team that could take a holistic approach to help professionalise their finance function, and partners that understood the intricacies of both UK and international tax, had strong relationships within the Private Equity community and could run an M&A process diligently and aligned to the founders’ objectives. Similarly, their advisors had to be able to work as an extension of their team – adding value throughout the journey.

As a business that self-funded its growth to date, the M&A process posed a challenge for the founders to navigate alone. In addition to the rounded accounting and tax advice BDO already provided, Omlet chose BDO as their M&A partner for three reasons:

When it came time to secure outside investment in the business, BDO guided Omlet’s executive team through the process – from start to finish. BDO understood that Omlet wanted to bring on an investor who had a strong alignment to the consumer brand’s vision and customer-centric approach, while also supporting and elevating its mission to educate the market on animal welfare through peer-to-peer communication and resources.

Based on Omlet’s vision for an investment partner, BDO drew up a shortlist of potential investors – all of whom met the company’s funding and investor criteria. Navigating a Private Equity process can be a complex and lengthy endeavour, so BDO acted as a trusted sounding board for Omlet’s founders and helped them understand what the process entailed, what questions to ask potential investors and where or how to manage expectations.

This resulted in Omlet securing £33 million in minority investment from Piper Private Equity in November 2021, which will support Omlet to achieve its strategic ambition.

Over the last 12 months, Omlet’s growth has maintained a steady upward trajectory, bringing its ambitious growth plans forward by two to three years. As a result, Omlet is in a strong position to meet customers’ needs and generate sales across multiple channels.

Looking ahead, Omlet is focused on achieving four core objectives:

To continue to support its global growth and ecommerce strategy, Omlet will rely on BDO to support them in financial, tax and accounting matters.

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