Catering equipment hire company Gorgeous Gourmets Limited has successfully been acquired in a Management Buyout deal, which KBS Corporate provided consultancy on.
Located in South West London, Gorgeous Gourmets, trading under the name Gorgeous Hire, is a provider of a range of catering equipment to the hospitality and education industries, as well as caterers and private clients.
Founded in 1982, the business has created an impressive reputation within its industry and is a member of the Event Hire Association and a SafeHire Certified Company.
The company’s sole shareholder, Jonathan Hooper, was preparing an exit strategy in line with his retirement plans and sought the expertise of KBS Corporate to fulfil these wishes. A targeted research process was implemented, specifically focussed on trade buyers such as catering equipment suppliers, hospitality specialists and event management providers.
Over ten parties signed NDAs, expressing potential interest in the acquisition. In addition to trade buyers, private individuals, who had previous backgrounds in the catering industry, also came forward.
Ultimately, Peter Martin, who has worked for the company for several years, was eager to remain within the company and took advantage of the opportunity to become the owner of a well-established business via a Management Buyout.
Post-acquisition, Jonathan’s retirement plans have been met and he retains ownership of the freehold property, from which the company operates.
Deal Executive Julie Doyle advised the vendor and commented: “It has been a pleasure working with Jonathan to achieve a successful exit solution. I wish Jonathan, Peter and Gorgeous Hire all the very best for the future.”