Fri, 02 May 2014 | MBO/MBI
Birmingham-based school meals supplier Alliance in Partnership (AiP) has undergone an MBO by Key Capital Partners (KCP).
KCP invested £5.2 million into the Black Country business as part of an £11 million deal. The private equity firm has now taken a majority stake in AiP alongside the management team of Angela Austin, Sally Tyson, Paul Rogers and managing director David Weller, the Birmingham Post has reported.
AiP was founded in 1998 and specialises in providing meals to schools. The company has more than 170 contracts with education establishments, feeding over 35,000 pupils every day – most of whom are in central England and west London. The caterer has sales of more than £14 million and employs around 800 people.
The deal is set to see AiP’s operations expand yet further. MD David Weller said: "Through this development, we are able to accelerate our growth plans and concentrate our efforts on core values of quality varied meals, local ingredients and working towards achieving excellence in food accreditations.
"Key Capital Partners share our vision for growth whilst maintaining the foundations of quality and excellent customer service on which the company's success has been built.”
Law firm Shakespeares advised the management team at AiP while KCP was advised by corporate lawyers Peter McLintock and Ryan Hawley at Mills and Reeve.
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