MML invested into CH&Co in May 2015 backing CEO Bill Toner and his team to merge the businesses of HCM and CH&Co and challenge the established “Big 6” food service providers. In a classic MML style transaction, the business went on to complete further mergers and acquisitions including the Brookwood Partnership, Harbour & Jones and the Concerto Group, diversifying the portfolio and more than tripling profitability. CH&CO holds a Royal Warrant for catering services to HM The Queen and employs nearly 6,500 people at more than 750 locations across the UK and Ireland.
MML have exited their investment to Equistone Partners Europe Limited, in a transaction that sees management and the original founders of HCM and CH&Co continue to majority own the business going forward and maintain the strategy for growth that has been so successful to date.
Richard Mayers, Partner at MML commented
“Having supported Bill and his team to achieve a leading position in the market, we believed now was the right time to return value to our investors. We have no doubt however that the Group will continue its impressive growth trajectory.”
Ian Wallis, CEO at MML also commented
“Bill and the team continue to see significant opportunity to grow market share through M&A and we wish them the best of luck”.
Bill Toner commented
“MML were absolutely the right investment partner for us and we have enjoyed and appreciated the support and belief shown by them as we completed this stage of our journey. We are massively excited as we move into this next phase with a new partner alongside us”.
Chris Robinson at Canaccord Genuity and Ed Stead at Pinsent Mason advised the shareholders of CH&Co Group.