Business growth and major contract wins have drawn the gaze of potential buyers for the Lindley Group, but as yet there is no firm offer under consideration.
Lindley has been the subject of persistent rumours that the company is for sale, which Ian Daly, chairman of the Lindley Group, said was as a result of the company's recent successes.
He confirmed that a string of new contract wins and surge in turnover has led to potential buyers who expressing an interest in the business, but added that at this point in time the Board is not discussing any firm offers.
"The Lindley Group is owned by a private equity company and, as such, the sale of the business is always a consideration," he said. "Over the past two years, there has been significant development of the business under a dynamic new management team which has successfully expanded Lindley's reach into the arts, attractions and heritage sectors whilst continuing to grow the core sports stadia business, and support its existing client base.
"This level of achievement and success doesn't go unnoticed and the fact that Lindley is continuing to perform extremely well has undoubtedly increased the inherent value of the business, but no specific offer is currently being considered."
The majority stakeholder in the Lindley Group is private equity firm Sovereign Capital, which bought the business as Lindley Catering for £14m in 2005.
The caterer now operates under the brands Lindley Venue Catering, Lindley Heritage and Heathcotes Outside. It has a portfolio of more than 50 contracts and an annual turnover of £55m.
Contract wins since November 2010 total more than £100m in annual turnover and include:
|Nov 2010||3 yrs||-|
|May 2011||Hepworth Wakefield||5 yrs||£1.8m|
|Jul 2011||Galpharm Stadium||5 yrs||£10.3m|
|Jul 2011||Sheffield Wednesday FC||5+2 yrs||£8.2m|
|Jul 2011||Gillingham FC||7 yrs||£21.3m|
|Oct 2011||Malvern Theatres||5 yrs||£4m|
|Feb 2012||Essex Cricket||Undisclosed||Undisclosed|
|Apr 2012||Gloucestershire County Cricket Club||1 yr||£280,000|
|Apr 2012||Rotherham United FC||5 yrs||£6.1m|
|Apr 2012||Millwall FC||5 yrs||£3m|
|May 2012||Kent Cricket||5 yrs||£4.3m|
|Jun 2012||Theatre Royal Bath||5 yrs||£4m|
|Jul 2012||Notts County FC||5 yrs||£5m|
|Jul 2012||Tottenham Hotspur FC - hospitality||5 yrs||£20m+|
|Aug 2012||Watford FC Â||4 yrs Â||£5.6m|
|Sep 2012||Warner Bros' Making of Harry Potter tour||3 yrs||£6m|
|Oct 2012||Wakefield Trinity Wildcats rugby club||rolling||£400,000|
|Nov 2012||Brighton and Hove Albion FC||6 mths||TBC|
By Janie Manzoori-Stamford
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