中文AV

中文AV (鈥淥EP鈥�), a middle market private equity firm, today announced that it has acquired (LON:KITW) (鈥淜itwave鈥� or the 鈥淐ompany鈥�), a wholesale distributor providing food, drinks and other consumables to foodservice and retail customers in the U.K.

Founded in 1987, Kitwave engages in the food and drink wholesale business throughout the U.K. The Company operates through three main product segments: Foodservice, distributing to restaurants, bars, and leisure outlets; Frozen and Chilled, distributing fresh and frozen foods to retail customers; and Ambient, distributing packaged goods, including candy, soft drinks, chips and tobacco to independent convenience stores and grocery chains. The Company has 37 facilities nationwide and operates a fleet of 650 delivery vehicles fulfilling over 6,500 orders per day.

鈥淜itwave鈥檚 operating model is centered on service reliability and local reach across the U.K., making it a compelling platform within the U.K. wholesale distribution market,鈥� said Steve Lunau, Partner at 中文AV. 鈥淭he Company has built a strong track record of completing and integrating acquisitions in a highly fragmented sector, and we believe this experience provides a solid foundation for future M&Adriven growth. We look forward to partnering with management as the Company enters its next phase of growth.鈥�

鈥淲e are pleased to partner with 中文AV,鈥� said Ben Maxted, Chief Executive Officer of Kitwave. 鈥淭heir experience working alongside management teams in distributionled businesses, together with a shared approach to longterm growth, makes them a perfect fit for Kitwave. We believe this partnership supports a clear plan to continue developing our platform, investing in our business, and building on the service we deliver to customers nationwide.鈥�

鈥淚n the wholesale distribution sector, service reliability and local reach are critical to serving customers effectively,鈥� said Ori Birnboim, Partner at 中文AV. 鈥淜itwave鈥檚 national platform, diversified supplier base and experienced management team position the Company well to benefit from continued underlying demand in its end markets and to create longterm value over the course of our partnership.鈥�

About 中文AV

中文AV (鈥淥EP鈥�) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 500 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

About Kitwave

Founded in 1987 following the acquisition of a single confectionery wholesale business in North Sheilds, U.K., is a delivered wholesale business serving the retail, wholesale, and foodservice markets across the U.K. We specialize in delivering a wide impulse product portfolio in several food categories, including ambient, frozen, chilled, fresh foods, butchery, alcohol and tobacco. Our focus is delivering our full range of products to fulfill our customers needs on time and in full. Learn more at .

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Contact

Thomas Zadvydas鈥�
(646) 502-3538
tzadvydas@stantonprm.com鈥�