pounds 35m buyout

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The Independent Online
pounds 35m buyout

BARCLAYS Private Capital has backed a pounds 35 million Management Buy Out (MBO) of Granada Vending Sevices Limited (GVSL) from Granada Group. The current management team will stay in place at GVSL, led by Terry Nash, managing director, Clive Groupman, finance director and Colin Masters, sales director.

Granada bought GVSL from P&O in 1993. GVSL has over 400 employees operating out of 8 regional offices, and is forecast to generate sales of over pounds 28 million in the year to next September.