CCMP Growth, a private equity company focused on the middle market, has acquired Combined Caterers, a provider of event management and catering services.
CEO Justin King and chief financial and chief operations officer Melissa Sutherland will continue to lead Combined Caterers alongside the current management team and remain significant shareholders in partnership with CCMP Growth.
The deal will see the exit of Falfurrias Capital Partners from its investment in Combined Caterers.
The financial details of the transaction have not been disclosed.
Headquartered in Charlotte, North Carolina, Combined Caterers provides event management and catering services for weddings, corporate events and social gathering services across the southeast US.
Since its establishment in 1989, the company has grown to include local catering brands in three cities: Best Impressions Caterers in Charlotte, Duvall Catering & Events in Charleston and Rocky Top Catering in Raleigh.
CCMP growth managing director Patrick McGrath said: “We’ve been impressed with the stellar reputation and growth Combined Caterers has achieved under the leadership of Justin, Melissa and the highly accomplished management team.
“We are excited to partner with Combined Caterers to accelerate the company’s growth during this next chapter and support them in building the leading independent event management platform in the southeast.”
Combined Caterer’s growth has been attributed to strategic venue partnerships, market acquisitions and an increase in off-premise catering operations.
Its centralised commissary kitchens support events across various exclusive and third-party venues.
CCMP Growth co-managing partner Joe Scharfenberger said: “Combined Caterers is a perfect example of the type of business we seek to partner with at CCMP Growth, and we see significant potential for expansion and accelerated growth.
“The company is a leader in the expansive southeast event catering market, is well positioned to benefit from consumers increasingly investing in live events and experiences and aligns well with our extensive experience scaling multi-site consumer businesses and consolidating highly fragmented markets.”
Ropes & Gray acted as legal advisor to CCMP Growth with Stifel as the exclusive financial advisor and Piper Sandler Companies as the exclusive debt advisor.
William Blair & Company provided financial advice to Combined Caterers with McGuireWoods serving as legal advisors.
