Boston, MA – February 22, 2017 — New Heritage Capital (“Heritage”), a Boston-based private equity investment firm specializing in founder-owned businesses, today announced an investment in Continental Services, (“Continental” or the “Company”), a leading diversified food-service provider serving corporate clients in Michigan across a range of industries.
The transaction will be structured using Heritage’s innovative 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, and is led by a deep management team averaging nearly 25 years of industry experience. Continental’s passion for creating engaging experiences with fresh, handcrafted fare has fueled impressive organic growth, with the Company currently serving over 700 companies. Continental is positioned to gain market share through an unrivaled customer-centric focus, while also pursuing new marketplaces through acquisitions.
“We have found true partners in New Heritage who believe in Continental’s mission and will support our exciting plans for growth,” said Jim Bardy, Founder and CEO of Continental. “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, added, “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 Company’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.”
Heritage is a Boston-based private equity firm with a twenty-year history of partnering with growing, middle market, founder-owned businesses. With its innovative investment structures like the Private IPO®, Heritage provides founders with a combination of liquidity and growth capital while allowing founders to maintain control of their business. Heritage gives its partners the strategic, operational and financial guidance to help its companies reach their growth objectives. For more information, please visit: https://www.newheritagecapital.com/.
Founded in 1989 and headquartered in Detroit, MI, Continental is a leading diversified food-service provider serving corporate clients in Michigan across a range of industries. The company offers a wide spectrum of tailored services, including vending services, office coffee replenishment, corporate cafés, grab-and-go markets, and special events, and consistently ranks as one of the top independent food management companies in the United States. Visit www.ContinentalServes.com for more details about the company and its diverse portfolio of services.
The above quotes are provided by Jim Bardy, Founder and CEO of Continental Services. As of February 22, 2017, Mr. Bardy is not a current investor in any New Heritage Capital fund and was not paid for the quote included above. However, due to his position at Continental Services, he may be inclined to have a favorable view of New Heritage Capital.