Acquisition Opportunity: MPM Catering Limited (In Administration)

Wed 19 Feb 2020

Conrad Pearson and Patrick Lannagan of Mazars LLP have been appointed as Joint Administrators of MPM Catering Limited.

There is an opportunity to acquire the business and assets of the Company which provides mobile catering services to customers and events across the UK.

Detail

The Company has over 10 years’ experience in the catering industry, providing high volume public event mobile catering services to a range of customers both contracted and ad-hoc, including high profile events across the UK, trading as Cook Street.  The Company also provides catering services to one of the UK’s largest events venues.

Key selling points

• Fixed assets include a fleet of approximately 22 vehicles including specialised cold storage vehicles, equipped mobile catering trailers and onsite support vehicles;

• Provides services to a range of customers and events across the UK via an existing customer base which includes one of the UK’s largest events venues;

• Company operates from leasehold premises close to the centre of Shrewsbury comprising approx. 700m2 of warehouse and offices over two storeys, including a large open plan office to the ground floor and additional offices and board room on the first floor.  The warehouse space includes an 18m2 walk in freezer and mezzanine space.  The Company also utilised a smaller (approx. 500m2) warehouse on site at the above events venue;

• Experienced and skilled workforce including staff trained in food hygiene and an in-house food safety manager experienced in liaising with event organisers and local authority inspectors, ensuring rigorous standards.

Financial Highlights

The company’s financial statements to March 19 detail turnover of £3.94m and EBITDA of £96k, with financial statements for the two years prior detailing turnover of £4.90m – 2018, £4.66m – 2017; EBITDA £281k – 2018 and £164k – 2017 respectively.

Contact

Interest is invited in relation to the business and assets, with further information available subject to a non-disclosure agreement.  Should you wish to receive further information on the opportunity, please contact Dan Fleming in the Manchester office at Daniel.Fleming@mazars.co.uk.