Olympus Partners has acquired Centerplate, an event hospitality provider, in partnership with Centerplate’s management team. The investment in Centerplate is Olympus’ tenth investment out of its $1.5 billion fifth fund.
“We are investing resources into Centerplate for one simple reason: this is a best in class company, led by an outstanding management team, poised for even greater growth in their industry,” said David Cardenas, Partner with Olympus Partners. “We are joining with this talented team in support of their industry-leading “Event Hospitality” approach, which we’re confident will continue to drive the company’s growth.”
Centerplate is an event hospitality provider to sports venues, convention centers and entertainment venues. The company serves approximately 250 unique venues and 100 million guests annually. Centerplate has provided event hospitality services to 15 official U.S. Presidential Inaugural Balls, 13 Super Bowls, 20 World Series, and the 2010 Winter Olympic Games. The company is based in Stamford, CT (www.centerplate.com).
“We were thrilled to announce we had come to terms with Olympus Partners last month and we are even more energized today now that we have consummated the transaction,” said Centerplate’s President and CEO Des Hague. “With the new ownership structure in place, we have the leadership, strategy and resources to continue to fuel our success and our ability to grow our clients’ business. This management led buyout will also provide continuity of key leadership, including our current, and invaluable, Chairman, Joe O’Donnell. Ultimately, we are in a really good place to drive meaningful growth in the months and years ahead.”
Olympus Partners, with $3 billion of capital under management, provides equity capital for middle market management buyouts and for companies needing capital for expansion. Sectors of interest include: business services; transportation and logistics services; healthcare manufacturing and services; financial services; consumer and restaurant; and software and IT services. The firm was founded in 1988 and is based in Stamford, CT (www.olympuspartners.com).
The Olympus team for this transaction included Mr. Cardenas, David Haddad, Chase Ormond, and Matt Boyd.
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-17-12