The Lindley Group has been sold to Centerplate, a portfolio company of Olympus Partners. Livingstone acted as the exclusive financial advisor to Lindley. Terms of the deal were not disclosed.
Livingstone, the leading independent, international investment banking firm, is pleased to announce the cross-border sale of The Lindley Group (“Lindley” or the “Company”) to Centerplate, a portfolio company of Olympus Partners. Livingstone acted as the exclusive financial advisor to Lindley. Terms of the deal were not disclosed.
Lindley is one of the largest providers of catering services to many of the premier sporting venues and tourist destinations in the United Kingdom. Centerplate is the leading event hospitality provider to the top sports venues, convention centers and entertainment venues in North America, serving more than 100 million guests at 250 prominent entertainment, sports and convention venues.
This deal creates a global leader in event hospitality. Revenues for the combined group are expected to exceed $1 billion in 2013 and it will have a workforce of over 35,000 worldwide.
“Lindley presented a unique opportunity for an international group to gain immediate access, recognition and market share in the UK,” commented Livingstone Vice President Ryan Buckley. “Centerplate seized the opportunity and we are delighted to have successfully sold a second business to Centerplate.”
Livingstone advised Marsh Supermarkets, a portfolio company of Sun Capital Partners, on the sale of Crystal Food Services to Centerplate in 2008.
Lindley CEO Adam Elliott will assume the title of President, The Lindley Group, and Executive VP, Centerplate, reporting to Centerplate President and CEO Des Hague. Hague commented, “From service innovation and culinary excellence to venue design, Centerplate has always put the guest and fan at the very center of everything we do, so we are thrilled to find a like-minded organization in Lindley.”
Elliott added, “Achieving global scale through this merger with Centerplate is a massive boost for Lindley, which will benefit from an infusion of resources and expertise while enjoying the operational freedom to bring our UK clients, fans and guests the food innovation and technology advances that Centerplate is pioneering at venues across America.”
The Lindley sale further enhances Livingstone’s global resume in food & facilities services. The firm recently sold the UK’s Taste Festivals Ltd. to IMG Worldwide and Ireland’s Veris plc to ARAMARK.