Ex-Compass chief buys foodservice companies

14 April 2008
Ex-Compass chief buys foodservice companies

The former chief executive of Compass Group, Mike Bailey, has returned to the world of contract catering with the acquisition of a trio of US foodservice companies.

Bailey has, through newly formed TrustHouse Services Group with the backing of private equity company Gryphon Investors, acquired Aladdin Food Management Services, AmeriServe Food Management and Fitz, Voght & Associates.

Bailey retired from Compass in 2006.

Aladdin, which has 150 clients in 20 US states, operates in the education, healthcare and business and industry sectors.

AmeriServe provides services to secondary schools and colleges as does Voght & Associates, which also has prison and executive dining contracts on its books.

Compass courted controversy when it revealed in its annual report for 2006 that Bailey had pocketed £830,000 in performance-related pay, despite leading the company through three profit warnings and a UN contract scandal.

The controversy prompted the company to reassure shareholders that it would link future executive pay to performance.

Bailey and Gryphon were advised by McColl Partners, an investment bank in Charlotte, North Carolina.

Bailey's return follows hot on the heels of former Compass chairman Sir Francis Mackay's move back into the industry with start-up Graysons, which landed its first deal at LGC, a provider of chemical and forensic analysis, DNA testing and consultancy services.

Compass vows to link future rewards to performance

Compass Group confident about performance in 2008

Graysons lands first contract at chemical labs

E-mail your comments to Daniel Thomas here.

The Caterer Blog](http://www.caterersearch.com/blogs/catering-news-blog/) Catch up with more news and gossip on the Caterer Blog here
[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking