Gryphon Investors has completed the sale of TrustHouse Services Group, a Charlotte, N.C.-based contract food service provider, to Elior SCA. Financial terms weren’t announced. Gryphon invested in TrustHouse in 2008. The sale to Elicor was announced in March.
Gryphon Investors (“Gryphon”), a San Francisco-based private equity firm, and Michael J. Bailey, the CEO of TrustHouse Services Group (“TrustHouse”) announced today that they have completed the previously announced sale of Gryphon’s portfolio company TrustHouse to Elior SCA (“Elior”), a prominent provider of contract and concessions catering headquartered in Paris, France. Elior partnered with its two main shareholders and TrustHouse’s management for the acquisition. Terms of the transaction were not disclosed.
About TrustHouse Services Group
TrustHouse Services Group (www.trusthouseservices.com) is a leading food service provider focused on the healthcare, education and corrections sectors. TrustHouse manages over 675 client accounts across 45 states. Divisions of TrustHouse include Aladdin Food Management based in Wheeling, WV; AmeriServe Food Management headquartered in Columbia, MO; Fitz Vogt & Associates located in Walpole, NH; A’viands, LLC in Minneapolis, MN; Lindley Food Services located in New Haven, CT; and Valley Services, Inc. located in Jackson, MS. TrustHouse is headquartered in Charlotte, NC and was founded in 2008 by Mike Bailey and Gryphon Investors, a San Francisco-based premier middle-market private equity firm.
About Gryphon Investors
Based in San Francisco, Gryphon Investors focuses on leveraged acquisitions of, and growth investments in, middle-market companies in partnership with experienced management. Having committed more than $1 billion of discretionary equity capital, Gryphon has an extensive track record of investing $35 to $100 million of its own capital in companies with sales ranging from $50 to $250 million. Gryphon prioritizes investment opportunities where it can form proactive partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, professional resources and significant financial and operational expertise. Visit www.gryphoninvestors.com for more information.