Private equity backs school catering MBO

Private equity house Key Capital Partners (KCP), has backed the £11m management buyout of specialist educational caterer, Alliance in Partnership (AiP) with a £5.2m investment.

The deal, led by Birmingham-based managing partner Owen Trotter and investment director Richard Thomas, enables the company to accelerate growth plans in the education catering sector.

KCP has acquired a majority stake in AiP, with senior debt facilities being provided by Ian Mansell and Ian Howey from the Yorkshire Bank acquisition finance team in Birmingham. The deal, negotiated by David Neate of Springboard Corporate Finance, has backed managing director, David Weller and his team, and will support the company’s plans to expand its contract portfolio.

Established in 1998, Oldbury-based AiP is one of the leading specialist educational catering providers, operating more than 170 school catering contracts and feeding more than 35,000 pupils a day across central England and West London.

The company, which has sales of more than £14m and employs upwards of 800 people, supplies freshly, cooked schools meals to primary, secondary, academy and specialist schools, within the state and independent schools sector.

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