New Heritage Capital, a Boston-based private equity investment firm specialising in founder-owned businesses, has invested in Continental Services, a diversified food-service provider serving corporate clients in Michigan.
The transaction will be structured using Heritage’s Private IPO solution.
Continental’s current management team and founder, Jim Bardy, will continue to control day-to-day operations and direct the company’s vision.
Continental provides its customers with a wide range of services, including corporate café, grab-and-go market, vending, office coffee, and special event offerings. It currently serves over 700 companies.
“We have found true partners in New Heritage who believe in Continental’s mission and will support our exciting plans for growth,” says Bardy. “Heritage’s experience with backing founder-owned businesses will prove invaluable as we enter our next phase of expansion with a continued focus on delivering industry-leading service to our customers.”
Melissa Barry, a partner at Heritage, adds: “We are excited to partner with an industry leader like Continental that is at the forefront of quality, technology and innovation in food management. We believe the xompany’s leading reputation with customers, well-defined strategy, and strong management team position it as an impressive platform for growth. We look forward to helping management execute on their plan via organic opportunities and the active pursuit of add-on acquisitions.”
