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Acquisition completed for top north catering firm ‘Kitchequip’
KitchEquip, one of the UK’s largest independent distributors of catering equipment, has officially been acquired by Aureus Acquisitions in their first deal, facilitated by Leonard Curtis.
Aureus Acquisitions Limited completed the multi-million purchase through the support of the debt advisory arm of Leonard Curtis, which offered insight and expertise into the financial risk and management associated with the deal.
Formed in 1993 in the North West, KitchEquip has many long-standing relationships with restaurants, hotel and bar chains, universities and colleges, hospitals and sports stadia -
offering a full service including the supply of kitchen equipment and appliances, utensils, crockery and glassware as well as the design, build and installation of bespoke, fully-fitted kitchens.
The recent buy-out is the latest big money move made by Aureus - an acquisitive investment company with a buy-and-build strategy to form a diverse portfolio of SME businesses.
The multi-million acquisition involved two lenders which added to the complexities of the transaction but has been delivered smoothly to ensure the continued involvement and cooperation from the existing shareholders.
Aureus CEO Sam Daughtry explained that focus will be placed on KitchEquip “for a short time” in order to “ensure the team, customers, suppliers and all of our other stakeholders are comfortable with the change of ownership.”
He explained: “Leonard Curtis is already bringing new opportunities to us along with financing suggestions for each so it shouldn’t be long before we add to our portfolio.
“The first steps in the execution of any business strategy are often the most challenging as you challenge and refine your own business processes.
“In these situations it pays to surround yourself with an experienced team that you can trust and we are very grateful for the team at Leonard Curtis for helping us to complete this deal.
Shaun Hyland, Debt Advisory Director at Leonard Curtis added: “It was a pleasure working with Sam and the Aureus team.
“We seemed to instantly form a business relationship where we were able to openly discuss what was needed and quickly decide how it could best be delivered.”
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