National Storage Mechanism | Additional information

North Atlantic Smaller Companies Investment Trust PLC

("NASCIT")

NASCIT is pleased to announce an investment of approximately £26.6m ($33.7m) in Crest Foods, comprising £17.9m ($22.7m) of equity and £8.7m ($11.0m) of 14.5% Senior Subordinated loans, at a leverage ratio of 2.4x EBITDA.

The principal business of Crest is the manufacture and sale of dairy stabilisers (54% of sales), contract food packaging (38% of sales) and outsourced packaged food product development (8% of sales).

Crest's customers include both branded and private label food companies.

Crest was acquired on a multiple of 6.5x trailing twelve months December 2023 EBITDA.

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