Consumer

Daltys

A leading provider of vending and coffee machines

July 2017
Investment Date
France
Country

Business Overview

  • Founded in 1980, Daltys is a leading provider of vending and coffee machines
  • The company has grown organically and through acquisitions to build an established position across all distribution channels

  • Longstanding contracts in place with over 20,000 customers, typically within the corporate, healthcare and hospitality sectors
  • Operates a chain of coffee shops and an e-commerce website

 

Investment Thesis

  • Proven expertise across the three key distribution channels: vending machines, coffee machines and coffee shops

  • Positive underlying market fundamentals with growing demand for coffee distribution

  • High barriers to entry with limited substitute services available to replace vending machines in locations such as national travel networks, forecourts and hospitals

  • Resilient business model with good visibility of revenues due to five year contracts and high renewal rates

Origination

  • Originated through a strong relationship with the sponsor, 21 Centrale Partners

  • Represents the third transaction PDM have completed with the sponsor

  • PCS2 and PCS3 acted as sole lenders to the company

  • Primary transaction

http://www.daltys.com/