Two London catering firms, By Word of Mouth and London Catering Services, have been bought in a simultaneous £4m management buy-in deal using funds from Sand Aire Private Equity and debt from Barclays Bank. The companies have combined annual sales of more than £11m.
The MBI team comprises Tony Roestenburg as chief executive and Nigel Brewster as finance director. They worked together at Letheby & Christopher between 1989 and 1995.
Events caterer By Word of Mouth was founded by husband-and-wife team Mike and Janie Lloyd Owen in 1977. Its clients include the Royal Ascot Racing Club, and it is a preferred caterer at venues such as the Royal Festival Hall, Somerset House and the Imperial War Museum.
All its existing directors, including the Lloyd Owens, will remain with the group.
LCS has contracts at the Commonwealth Institute, Pinewood Studios, Shepperton Studios and the Magic Circle. Its Shepperton offices will be relocated to Putney, where the new owners will manage finance and administration for both businesses.
Source: Caterer & Hotelkeeper magazine, 27 March - 2 April 2003