Next Generation Vending and Food Service, Inc.

Client Profile
Next Generation Vending and Food Service, Inc. (“Next Generation” or the “Company”) is a leading provider of vending services for corporate and institutional customers. Headquartered in Canton, MA, Next Generation offers full vending services to customers in the manufacturing, education, retail and healthcare sectors. The Company’s footprint spans over 200 routes throughout New England and the Northeast that produce over 100 million customer experiences annually.
Situation
Next Generation was formed in late 2007 to acquire a portion of an existing vending business. After struggling through the recession, the Company experienced significant liquidity constraints which materially impacted management’s ability to implement a comprehensive restructuring. The Company’s existing lender group was fatigued and unable to provide sufficient go-forward capital needed to implement technological improvements and facilitate add-on acquisitions to fuel growth and complete management’s restructuring initiatives.
Solution
SSG was retained as the Company’s investment banker to explore strategic alternatives, including a potential sale. After conducting a comprehensive bidding process, SSG obtained multiple competitive offers. The offer made by H.I.G., in addition to maximizing value, enabled the Company to optimally reset its capital structure to support the business plan and long term growth initiatives.