FDBusiness.com

Private equity group CVC Capital Partners is acquiring a majority stake in Autobar Group from Charterhouse Capital Partners, which will retain a significant minority stake. Autobar is one of Europe’s leading vending businesses, with around 100,000 customers in 11 countries in Europe and sales of Eur569m in the year to March 2010. Autobar supplies and operates hot and cold drink vending machines and ingredients, as well as snack and food vending machines, together with providing fully operated managed services and technical support.

CVC and Charterhouse believe that Autobar provides an exciting platform for growth within the European vending industry over the next five years. The sources of this growth are expected to include increased throughput in the existing machine park and deployment of new machines and acquisitions. Indeed, once it has completed the deal, CVC is expected to pursue an acquisition of Selecta, Autobar’s main European rival.

Closing of the transaction remains subject to regulatory clearance, and is expected to take place in September 2010.

Founded in 1981, CVC now has a network of 20 offices and over 220 employees throughout Europe, Asia and the United States. Today, CVC manages in total over $38b in funds and own 52 companies worldwide, with combined annual sales of over $96b.