New Heritage Capital has made an investment in Continental Services, a food-service provider serving corporate clients in Michigan.
Continental provides its customers with a range of services, including corporate cafés, grab-and-go markets, vending, office coffee, and special event catering. The company was founded by Jim Bardy in 1989 and is headquartered in Detroit (www.ContinentalServes.com).
Mr. Bardy will continue to control day-to-day operations of the company and will be active in directing the company’s strategic growth. “We have found true partners in New Heritage who believe in Continental’s mission and will support our exciting plans for growth,” he said. “Heritage’s experience with backing founder-owned businesses will prove invaluable as we enter our next phase of expansion with a continued focus on delivering industry-leading service to our customers.”
“We are excited to partner with an industry leader like Continental that is at the forefront of quality, technology and innovation in food management and look forward to helping management execute on their plan via organic opportunities and the active pursuit of add-on acquisitions,” said Melissa Barry, a Partner at New Heritage.
New Heritage invests minority or majority equity in companies with minimum revenues of $30 million and at least $5 million of EBITDA. Sectors of interest include aerospace, business services, consumer products, distribution, education and training, food and beverage, healthcare and healthcare services, industrial and infrastructure, manufacturing, pet products and services, specialty chemical, and test and measurement. Heritage was founded in 2006 and is headquartered in Boston (www.newheritagecapital.com).
© 2017 Private Equity Professional | February 23, 2017
