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American Capital’s SMG acquires Premier Food Services

4 Jun 2014

food6Private equity firm American Capital‘s portfolio company SMG Holdings has acquired caterer Premier Food Services.

The San Diego-based company provides outsourced food and beverage services at entertainment venues, dining clubs, universities and businesses.

Premier’s customers include the State of California, Del Mar Fairgrounds and Race Track and the University of California, San Diego Faculty Club.

Senior managing director of American Capital Brian Graff said, “As a global venue management company, SMG manages a large and broad portfolio of venues with exceptional diversity across event type, end market, attendee population demographic and geography.

“Its acquisition of Premier provides SMG with an attractive opportunity to expand its food service offering outside of its core portfolio of arenas, stadiums and convention centers into business dining, schools and colleges, fairgrounds and off-premise catering.”

Meanwhile, American Capital is nearing a final close for its Capital Equity III fund.

In May AltAssets reported that American Capital was looking to close the $1.09bn fund within three months.

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