Michigan Vending Giant Continental Partners With Boston-Based New Heritage Capital

Posted On: 2/23/2017

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TAGS:Vending, office coffee service, OCS, micromarkets, Continental, New Heritage Capital, Jim Bardy, Melissa Barry, refreshment services, workplace refreshments, foodservice management

TROY, MI -- Continental, a leading refreshment services and foodservice management company, said it has partnered with New Heritage Capital, a Boston-based private equity firm that works exclusively with founder-owned businesses. Terms were not disclosed.

Continental, founded in 1989 and headquartered in Troy, MI, provides dining, refreshment and event services for more than 700 corporate clients across a range of industries. It has 900 employees and operates vending, micromarkets and office coffee service at onsite corporate locations and off-premise venues.

Continental said the Heritage partnership supports its plan for geographic expansion and investment in technologies to enhance the customer experience in its dining, refreshment services and event lines of business. Continental's current management team and founder Jim Bardy will continue to direct day-to-day operations.

"Partnering with New Heritage Capital sets the table for the continued success of Continental," Bardy said. "The backing of a like-minded company provides an incredible opportunity to further build our company's presence in Michigan and beyond, while enhancing our offerings and developing deeper connections with the guests that enjoy our services."

Bardy added that Continental clients and guests can expect the company to continue enhancing its portfolio of services with more distinctive culinary concepts and new technologies for guest engagement, as well as even higher service delivery standards.

New Heritage Capital's investment model provides founder-owned businesses with a combination of liquidity and growth capital while allowing them to maintain control of their businesses.

"We are excited to partner with an industry leader like Continental that is at the forefront of quality, technology and innovation in food management," said Heritage partner Melissa Barry. "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."