Continental Services, a portfolio company of New Heritage Capital since February 2017, has acquired Northern Vending Company.
Northern Vending Company is a provider of vending, coffee and water services to customers in the metropolitan Detroit area. The company was founded in 1999 and is headquartered near Detroit in Ann Arbor, MI (www.northernvending.com). As part of the transaction, the entire Northern Vending staff will join the Continental team.
This is the sixth add-on acquisition made by Continental in nearly two years. The five earlier add-ons were Sterling Services (Canton, MI ) in March 2019; United Vending & Market Services (Ferndale, MI) in November 2018; Metro Vending Service (Roseville, MI) in April 2018; 24 Hr. Vending (Brighton, MI) in January 2018; and Satellite Vending Company (Wixom, MI) in September 2017.
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 serves more than 1,000 small and medium-sized businesses, blue-chip corporations, colleges, universities, business, and industrial sites, and hospitals and medical centers. Continental, one of the largest franchisees of food service provider Compass Group, was founded in 1989 and is headquartered north of Detroit in Troy, MI (www.ContinentalServes.com).
New Heritage invests from $15 million to $40 million of minority or majority equity in companies with $4 million to $20 million of EBITDA. Sectors of interest include business services, healthcare and manufacturing. The firm was founded in 2006 and is headquartered in Boston (www.newheritagecapital.com).
© 2019 Private Equity Professional | July 23, 2019