M&A Deal Summary

CCMP Growth and Stellus Capital Management Acquire Combined Caterers

On December 3, 2024, growth capital firm CCMP Growth and private equity firm Stellus Capital Management acquired consumer services company Combined Caterers

Acquisition Highlights
  • This is CCMP Growth’s 2nd and Stellus Capital Management’s 4th transaction in the Consumer Services sector.
  • This is CCMP Growth’s 4th and Stellus Capital Management’s 71st transaction in the United States.
  • This is CCMP Growth’s 1st and Stellus Capital Management’s 3rd transaction in North Carolina.

M&A Deal Summary

Date 2024-12-03
Target Combined Caterers
Sector Consumer Services
Buyer(s) CCMP Growth
Stellus Capital Management
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) William Blair (Financial)
McGuireWoods (Legal)

Target

Combined Caterers

Charlotte, North Carolina, United States
Combined Caterers is a premium event management and catering services provider. Combined Caterers was founded in 1989 and is based in Charlotte, North Carolina.

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Buyer(S) 2

DESCRIPTION

CCMP Growth is growth capital oriented private equity firm focused on opportunities in the consumer and industrial sectors. The Firm looks to fund expansion mid-sized expansion stage businesses throughout North America. CCMP Growth was formed in 2022 and is based in New York City.


DEAL STATS #
Overall 4 of 5
Sector: Consumer Services M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 2
State: North Carolina M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 Innovative Refrigeration Systems

Lyndhurst, Virginia, United States

Innovative Refrigeration Systems specializes in ammonia, CO2 and cascade refrigeration systems, the most energy efficient systems for large scale industrial refrigeration using sustainable natural refrigerants. With vertical integration from engineering design, manufacturing, installation to plant commissioning, Innovative helps its customers and partners complete their projects on time and on budget. Innovative Refrigeration Systems was founded in 1983 and is based in Lyndhurst, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-14 A1 Cash & Carry

Mississauga, Ontario, Canada

A1 Cash & Carry is a cash and carry wholesaler in Ontario serving as a one-stop shop for independent restaurants and foodservice customers with a full suite of products, including bulk grocery, food packaging, protein, produce, dairy, frozen foods, janitorial products, small wares, and restaurant equipment. A1 Cash & Carry was formed in 1998 and is based in Mississauga, Ontario.

Buy -
Buyer

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $20 to $100 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


DEAL STATS #
Overall 73 of 86
Sector: Consumer Services M&A 4 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 19 of 23
State: North Carolina M&A 3 of 4
Country: United States M&A 71 of 83
Year: 2024 M&A 11 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-25 IDX

Beaverton, Oregon, United States

IDX is a provider of identity protection and data breach services for companies and individuals throughout the U.S. It combines consumer-centric software and concierge-style professional services in serving organizations across government, healthcare, commercial enterprises, financial institutions, and higher education. IDX was founded in 2003 and is based in Beaverton, Oregon.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-05 Spectra Confectionery

Vaughan, Ontario, Canada

Spectra Confectionery is a manufacturer of premium decorative toppings and confectionery products. Spectra supplies sprinkles, nonpareils, chocolate vermicelli, colored sugar crystals, sugar shapes, and panned products to North America’s largest food distributors, bakeries, ice cream, and snack food companies. Spectra Confectionery was founded in 1996 and is based in Vaughan, Ontario.

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