CH&Co in exclusive sale talks with Equistone – report

The deal is based on a £22m run-rate EBITDA, three sources familiar with the situation said.

MML ran a sale process in the summer, but the deal fell through. Equistone was one of four bidders at the time, the three sources and a fourth source familiar with he situation said. Equistone then continued conversations with MML, and was recently awarded exclusivity, one of the sources added.

CH&Co was formed in June 2015 when MML invested for a significant minority stake to facilitate the merger of CH&Co and Host Catermasters (HCM).

In 2016, MML merged its portfolio companies Brookwood Partnership and Absolutely Catering with CH&Co. It then continued to grow via M&A, acquiring UK catering group Harbour & Jones in June 2017 and The Concerto Group in December 2017, according to Mergermarket data.

CH&Co employs more than 6,200 people across the UK and Ireland.

MML did not return a request for comment. Equistone declined to comment.

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• Topics
• Exits
• Buyouts
• UK / Ireland
• Consumer
• United Kingdom
• MML Capital Partners
• Equistone Partners Europe