
UK - YFM backs management buy-in of Cater Plus Services
YFM has backed the £4.3m management buy-in of catering services provider Waterfall Services Ltd, which trades as Cater Plus Services. Yorkshire Bank provided a debt package to facilitate the deal.
The business, established in 1991, supplies catering, procurement, housekeeping, training and consultancy services to a wide range of care homes, shelters and schools across the South of England. The £12m turnover firm, employs over 500 staff at its head office and at over 70 customer premises, aims to expand the predominantly Southern-based business to other regions of the UK. Jim Lovett, a healthcare market specialist and former operations director at Sodexho Healthcare, will become managing director. Vince Pearson, a former colleague and UK board director at French catering specialist Sodexho, will become chairman.
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