UK. Travel-related food & beverage specialist SSP yesterday completed its sale to private equity firm EQT.
The agreement to sell SSP, which also incorporates Creative Host Services in the US, was announced by former parent company Compass Group on 9 April.
The transaction has been structured as a combined sale of the UK motorway services business Moto to a consortium led by Macquarie Bank and the remainder of the SSP business to EQT IV Fund. The agreement includes investment in SSP by members of the SSP executive team.
BACKGROUND: SSP is the leading provider of food & beverage services in travel locations worldwide. It operates a broad portfolio of international and national brands as well as its own tailor-made concepts in 26 countries.
It serves around 5 million customers every day in over 2000 restaurants, bars, cafés, convenience stores and food courts across major airports, railway stations and shopping centres.
EQT is a leading European private equity group which manages approximately €6 billion in eight funds. In total, EQT funds have invested approximately €4 billion in about 40 companies.
MORE STORIES ON SSP
SSP opens Starbucks at Glasgow Prestwick – 15/06/06
SSP gives Newcastle Airport a taste of real food – 14/06/06
Heineken and SSP partner in pioneering bar at Hong Kong International Airport – 16/05/06
SSP wins exclusive F&B contract at Egypt’s Sharm el Sheikh International Airport – 16/05/06
SSP wins key F&B contract at Bangkok’s new Suvarnabhumi Airport – 10/05/06
