Tournus Equipement (TE), based in France, accelerates its growth with the acquisition of Catering Equipment Design (CED), based near Liverpool, United Kingdom. With turnover of £12.5m (approx. €15m), CED is TE’s first external growth operation, as a supplement to its uninterrupted organic growth since 2005. Like TE, CED designs, manufactures and sells equipment for professional kitchens.
CED has a catalogue of products and technical and commercial expertise that is well known in the UK in the fast food and takeaway sector and for bespoke countering. CED is the leading manufacturer in the UK. With a foothold in some thirty countries, TE intends to support CED’s growth in its market notably through contributing its industrial expertise in the manufacture of stainless steel equipment for professional kitchens and dispensing units for public and private institutions.
CED’s four directors are investing alongside TE’s shareholders as part of the takeover.
According to Howard Rishton, CED’s Managing Director: “Merging with Tournus Equipement is an excellent opportunity to accelerate our growth in the UK and abroad. We are enthusiastic about the idea of swiftly expanding the range of equipment available to our customers.”
Investors MML CAPITAL, UI GESTION and BPI France have been helping the business with its expansion since 2013. Based in Tournus, Tournus Equipement achieved turnover of €47m in 2015 and employs 270 people.