Catering distributors providing contract work for Servest Group can expect the company to be involved in more catering projects in the coming years after it secured £90m to fund an acquisition spree.
The Suffolk-based firm will use the cash to buy more facilities management and catering businesses as it bids to become one of the top five FM companies in the UK.
Over the last few years it has acquired the likes of 7 Day Catering, Maxwell Stewart and FSG, and the investment will help it continue that momentum.
Earlier this year it announced some major contract wins, including an £8.5m a year catering contract with the BBC and a £9.1m deal with Sutton Council.
Law firm Birketts advised Servest and its owners on the capital funding. Rafael Ruiz, who led the transaction, said: “The complexity and value of the transaction, involving shareholders here in the UK as well as in South Africa, and the Channel Islands, combined with a tight deal timetable, necessitated teams from our Chelmsford and Norwich offices working together closely.”
Servest employs 16,000 staff across the UK.