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Private equity firm acquires SSPPrivate equity firm acquires SSP
John Rimmer
9-Apr-2006
The airport catering specialist has been bought by EQT in a £1.82bn deal
Leading airport catering company SSP and its US arm Creative Host Services have been bought by European private equity firm EQT. As part of the deal, worth £1.82bn ($3.2bn) in total, owner Compass Group has sold UK motorway services company Moto to Macquarie Bank. The completion of the deal is dependent on approval from competition authorities in Europe and the US.
SSP CEO Andrew Lynch said: "I am delighted that two of the world's leading investment companies have recognised the considerable potential in the SSP and Moto businesses."
SSP operates in 26 countries. The business also includes rail catering provider Rail Gourmet.
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