Centerplate, a portfolio company of Olympus Partners, has acquired The Lindley Group, a provider of catering services and a portfolio company of Sovereign Capital, which acquired the business n 2005.
Lindley is a provider of catering services to stadiums, arenas, racecourses, museums, art galleries, visitor attractions and theatres. The company is based in Stoke-on-Trent, UK (www.thelindleygroup.com).
Centerplate, acquired by Olympus Partners in October 2012, 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).
Revenues for The Lindley Group and Centerplate are expected to exceed $1 billion in 2013 and the combined entity will have a worldwide workforce of over 35,000. Lindley CEO Adam Elliott will assume the title of President, The Lindley Group, and Executive VP, Centerplate, reporting to Centerplate President and CEO Des Hague.
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).
Investment banking firm Livingstone acted as the exclusive financial advisor to The Lindley Group. “Lindley presented a unique opportunity for an international group to gain immediate access, recognition and market share in the UK,” said Livingstone Vice President Ryan Buckley. “Centerplate seized the opportunity and we are delighted to have successfully sold a second business to Centerplate.” Livingstone advised Marsh Supermarkets, a portfolio company of Sun Capital Partners, on the sale of Crystal Food Services to Centerplate in 2008.
Livingstone is an international investment banking firm focused on M&A and private capital transactions with values between $30 and $300 million. Across its principal offices in the US and Europe, Livingstone’s corporate finance professionals specialize in five key sectors: business services; consumer; healthcare; industrial; and media & technology. The firm has offices in Chicago, London and Madrid (www.livingstonepartners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-5-13
