Clearwater International advises leading procurement provider PSL on its sale to Sodexo Global Support Services Limited

Clearwater International has advised leading procurement provider PSL, on its sale to world leader in quality of life services, Sodexo.

Established in 1993, PSL has become a leader in fresh food procurement in the UK with its integrated approach of procurement, operations and systems support. PSL operates within a wide spectrum of the hospitality market including restaurants, hotels, hospitals and contractors amongst others. The firm predominantly focuses on maximising profit and sustaining food margins, and can offer additional services such as price trends, revenue generation and allergen management.

This acquisition will reinforce Sodexo’s proposition to deliver market-leading food cost management solutions to its clients and with Sodexo’s geographic coverage and diverse client base, PSL will develop its business across Europe and capitalise on new product line opportunities, as well as expand its client base beyond the hospitality sector.

The Clearwater team was led by Partner and head of business services, Marcus Archer, supported by Associate Directors Mark Maunsell and Helen Lowe, and Senior Associate Stephen Nemeth.

“I and the management team of PSL are delighted to be joining Sodexo, a global leader in the services industry, which will bring fantastic opportunities not only for both businesses but also for our employees, clients and suppliers.”

Daniel Wilson, Managing Director, PSL

“Sodexo are a great fit for PSL. The transaction provides PSL with the ability to grow its geographical coverage, as well as accelerating Sodexo’s leading platform in the food industry and expand its service offerings.

“This transaction further demonstrates Clearwater International’s expertise in tech-enabled support services. With outsourcing traditionally associated with external support in non-core business activities, more recently, we’re seeing companies look to outsource a greater number of business critical functions and beginning to see how this can create significant commercial advantages as a result.

“Procurement outsourcing’s value proposition remains, for now, primarily driven by cost and spend reduction, but buyers are increasingly seeking new value metrics, such as operational excellence, market intelligence, and supplier relationship management. This is enhanced further by the developing role of technology, with an increasing adoption of end-to-end platform-based offerings with key drivers including ‘as-a-service’ models, advanced analytics, mobile-enabled technologies, and process automation.”

Marcus Archer, Partner, Clearwater International