Gryphon Investors and Michael Bailey Acquire Leading Foodservice Management Firms...

Gryphon Investors and Michael Bailey Acquire Leading Foodservice Management Firms Aladdin, AmeriServe and Fitz Vogt

Newly formed company to be called TrustHouse Services Group
SAN FRANCISCO--(Business Wire)--
Gryphon Investors, a San Francisco-based private equity firm, in
partnership with executive Michael Bailey, announced that they have
completed the acquisition of Aladdin Food Management Services,
AmeriServe Food Management Services and Fitz, Vogt & Associates,
through a newly formed company, TrustHouse Services Group, Inc.
Michael Bailey is the former CEO of Compass Group PLC, a global
foodservice provider with over $20 billion in annual revenue. Terms of
the transaction were not disclosed. McColl Partners, a leading
boutique investment bank located in Charlotte, NC, advised Gryphon and
Mr. Bailey.

TrustHouse provides outsourced food management services to
educational institutions, healthcare facilities and businesses,
primarily in the Northeast, Mid-Atlantic and Midwestern regions of the
U.S. Based on 2007 revenue, the new Company would rank among Food
Service Director Magazine's top fifteen companies, and is a leader
within the healthcare and education markets.

"TrustHouse is an attractive platform in the fragmented,
multi-billion dollar contract foodservices sector," said Nick Orum,
Gryphon partner and head of Gryphon's Business Services practice.
"Moreover, we are delighted to be partnering with Michael Bailey, a
true world-class executive. We look forward to helping him build the
business and supporting its growth, both organically and through
add-on acquisitions." Mr. Bailey will assume the role of Chairman and
CEO of TrustHouse going forward, and he will be a significant
shareholder of the Company.

Mr. Bailey said, "There is strong demand in the market for an
entrepreneurial contract foodservices firm of scale that is focused on
the healthcare and education markets. Education and healthcare
represent attractive, recession-resistant sectors, and they are
expected to exhibit strong growth driven by accelerating trends at
these institutions to outsource food service to third-party firms."
Mr. Bailey added, "It is a privilege to have the opportunity to work
with the talented management teams at Aladdin, AmeriServe and Fitz
Vogt. And Gryphon's experience in helping to build leading businesses
makes them an ideal partner to support the Company's growth plans."

"This investment is a further extension of Gryphon's strong
franchise in the facility services sector," said Keith Stimson, a
Gryphon principal. "Our track record also includes prior successful
investments in Consolidated Fire Protection, a leading fire/life
safety service provider, and Allied Security, the largest independent
guard services firm in the U.S."

About Gryphon Investors

Based in San Francisco, Gryphon Investors focuses on leveraged
acquisitions of, and growth investments in, middle market companies in
partnership with experienced management. Having managed more than $1
billion of discretionary equity capital, Gryphon has an extensive
track record of investing $25 to $75 million of its own capital in
companies with sales ranging from $25 to $250 million. Gryphon
prioritizes investment opportunities where it can form proactive
partnerships with owners and executives to build leading companies,
utilizing Gryphon's capital, professional resources and significant
financial and operational expertise. Visit www.gryphoninvestors.com
for more information.

About Aladdin Food Management Services

Aladdin Food Management Services, LLC of Wheeling, WV, is a
contract foodservice provider that focuses primarily on the higher
education, private school, nursing home and other non-acute heath care
markets. Aladdin also serves customers in the government and
industrial markets. Aladdin provides its food services to clients
located across the New England, Mid-Atlantic and Midwestern regions.
Visit www.aladdinfood.com for more information.

About AmeriServe Food Management Services

Founded in 1994 and headquartered in Columbia, MO, AmeriServe
provides contract food service management to colleges and secondary
schools throughout a seven-state area comprised of Missouri, Nebraska,
Kansas, Oklahoma, Arkansas, Illinois and Iowa. AmeriServe operates as
the exclusive provider of food and beverage at all facilities it
services and is responsible for hiring, training, and supervising food
service personnel.

About Fitz, Vogt & Associates

Headquartered in Walpole, NH, Fitz, Vogt & Associates is a leading
regional provider of customized food management services in the
Northeast. Founded in 1977, the firm services accounts located
primarily in the New England states of Maine, Vermont, New Hampshire,
Massachusetts, Rhode Island and Connecticut, with a smaller presence
in the Atlantic coast states through Pennsylvania and Maryland. Visit
www.fitzvogt.com for more information.

On behalf of Gryphon Investors:
Owen Blicksilver Public Relations, Inc.
Lisa Baker, 914-725-5949
lisa@blicksilverpr.com

Copyright Business Wire 2008