Gemeaz Cusin & Scapa Italia (Barclays PE/Accor)

October 10, 2007

      Compass Advisers, ("Compass") is pleased to announce the acquisition of Gemeaz Cusin Ristorazione ("Gemeaz Cusin") and Scapa Italia, the Italian food services businesses of Accor Group, by Barclays Private Equity plc ("BPE"), an established private equity house with its focus on mid-market European buyouts.  Compass, Rondelli Advisers, the Italian partner of Compass Advisers, acted as financial advisor to BPE in the transaction.

      Gemeaz Cusin, founded in 1949 and headquartered in Milan, operates in the contract catering market and is involved in the business, health, educational and defense sectors, covering on-site food processing with facility financing and centralized production.  In 2007, Gemeaz Cusin is expected to post sales of about €250 million.  Scapa Italia operates in the food distribution market, where it is the leading food distribution company in the institutional catering industry, with anticipated 2007 revenues of €130 million.

      BPE's medium- to long-term plans for these investments involve further development of the business through acquisitions, as well as consolidation in other geographies and sectors with potential for synergies.

      Compass assisted the client in performing due diligence, valuing assets and business entities, negotiating the price and transaction terms, providing strategic advice regarding bidding, coordinating all activities required in the acquisition process and developing integration and business plans.