At a Glance

PGIM has a prior relationship with Kitwave dating back to 2016 when we participated in a minority buyout of the company.

In May 2026, PGIM partnered with One Equity Partners (“OEP” or “the Sponsor”) to participate in their take-private of Kitwave from the AIM in London. With a focus on scaling the Company through acquisitions, OEP sought a flexible financing structure and local lending partners who could support Kitwave with both capital and local market insight. Given our prior funding relationship with the company since 2016, PGIM’s familiarity with the management team and strategy positioned us as a natural partner for this next phase.

The take-private financing package comprised of a First Lien Term Loan and Delayed Draw Term Loan.

Kitwave and OEP appreciated our (i) relationship-based approach to lending and our previous relationship with Kitwave, (ii) ability to increase our hold size as the funding requirement for acquisitions increases, and (iii) experience in the UK food distribution sector.

We valued this opportunity to build on our decade-long relationship with Kitwave, and are excited to be part of the next phase in their growth story.