Endless acquires NBGI-backed Bright Blue

NBGI will remain as a co-investor in the company, which has recently expanded its Polish operations, following completion of the transaction.

The acquisition marks the 10th acquisition for Endless in 2015, and comes shortly after the firm agreed to acquire the UK and Irish businesses of insolvent Netherlands-based technical services provider Royal Imtech.

Endless is currently investing from its fourth vehicle, which held a first and final close in December 2014 on £525m.

Previous funding
In January 2013, NBGI acquired Bright Blue from trade vendor McCambridge Foods in a £23.5m management buy-in deal.

Company
Founded in 2013 as a spinout from McCambridge Foods, Blackburn-headquartered Bright Blue produces baked products. Its customers include Mars, Tesco, Marks & Spencer, Lidl, Morrisons, Sainsbury’s and Aldi.

The company has a headcount of around 700 including its additional operations in Bradford and Szczecin, Poland. It anticipates a turnover of £70m in the coming year.

People
Mathew Deering, Richard Harrison and Adam Keasey led the deal for Endless. Steve Crossley is CEO at Bright Blue. Bright Blue has appointed Di Walker, who is group executive chair at Endless-backed Karro Food Group, as a non-executive director.

Advisers
Equity – Addleshaw Goddard, Andrew Smith, Richard Chere, Tim Taylor (Legal).
Company – Squire Patton Boggs (Legal).
Management – Pinsent Masons (Legal).

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