Centerplate Finalizes Management Led Buyout and Agreement with Olympus Partners
10/16/2012 – Stamford, Conn. (PRNewswire) – Centerplate, the largest event hospitality partner to North America's premier sports stadiums, convention centers and entertainment venues, announces it has concluded its management led buyout of the company in partnership with Stamford-based Olympus Partners from former owner Kohlberg & Company, LLC. Centerplate, named the fastest growing hospitality group in the country by Nation's Restaurant News in 2011 will now see an infusion of resources which will accelerate the company's growth and innovation strategy.
Centerplate's executive team will remain intact, providing stability, and a continuation of Centerplate's highly successful growth strategy and event hospitality focus. Under the supervision of President and CEO Des Hague and Chairman Joe O'Donnell, Centerplate has realized significant revenue growth, adding major new business including the University of Notre Dame, the New Orleans Convention Center, and the new San Francisco 49ers stadium.
"We were thrilled to announce we had come to terms with Olympus Partners last month and we are even more energized today now that we have consummated the transaction," says Mr. Hague. "We have the leadership, strategy and resources to fuel our success and our ability to grow our clients' business. This management led buyout will also provide continuity of key leadership, including our current, and invaluable, Chairman, Joe O'Donnell. Ultimately, we are in a really good place to drive meaningful growth in the months and years ahead."
"We are investing resources into Centerplate for one simple reason: this is a best in class company, led by an outstanding management team, poised for even greater growth in their industry," says new investor David Cardenas, Partner with Olympus Partners. "We are joining with this talented team in support of their industry-leading "Event Hospitality" approach, which we're confident will continue to drive the company's growth."
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