New Heritage Capital’s (Heritage) portfolio company Continental Services (Continental) has acquired Satellite Vending Company (Satellite), a provider of vending, micro-market and office coffee services in the Detroit market.
Satellite represents the first add-on acquisition for Continental, further strengthening its position as Michigan’s largest food services company.
Continental provides a wide range of custom dining, refreshment, and event services for more than 700 small and medium-sized businesses, blue-chip corporations, colleges, universities, business and industrial sites, and hospitals and medical centres. The Company’s custom-tailored services range from on-site corporate cafés, grab-and-go markets and traditional vending, to off-premise catering and event services. Continental’s team is passionate about creating engaging experiences with fresh, handcrafted food, helping the company earn a spot on Food Management magazine’s FM 50 2017 ranking of the top 50 largest noncommercial contract dining management companies in the US.
“Satellite Vending is a perfect complement to Continental’s refreshment services operations,” says Steve LaPorte, President of Continental’s Refreshment Services Division. “Joining forces with Satellite also enhances our ability to reach more customers with our diverse on-the-go refreshment service options.”
Melissa Barry, Partner of Heritage, adds: “The acquisition of Satellite represents the first of many potential add-on acquisitions for Continental. We look forward to continuing to support the Company as they work towards further growth and geographic expansion.”
