Isis sells Kafevend

OFFICE vending machine supplier Kafevend has been sold by Isis Equity partners.

The firm, which specialises in coffee and water machines, has been bought by Switzerland-based Eden Springs.

It is based in Crawley, Surrey, but has four other offices across the UK including one in Didsbury, Manchester. The business has annual sales of £20m and 100 staff.

Isis invested in Kafevend in October 2005 to fund a management buyout from IKON Office Solutions. The value of the deal was not disclosed but Isis said the exit represented a return of two-and-a-half times the original investment.

The shareholders of Kafevend were advised by Clearwater Corporate Finance, Pinsent Masons and Aequitas Corporate Finance.

Kafevend’s chief executive John Collins said: “Kafevend has had a long and supportive relationship with Isis during which time the company has gone from strength to strength. Becoming part of Eden Springs at this stage in Kafevend’s development will provide excellent opportunity for the business, our people and our customers.”