Leeds-based private equity firm Endless acquires KTC, one of the UK’s largest suppliers of edible oil

Endless confirmed that it has today acquired K.T.C. (Edibles) Limited, which supplies more than 250 million litres a year of edible oil to manufacturers, retailers and wholesalers across the UK and globally.

Headquartered in Wednesbury in the West Midlands and established in 1972, the founding family have grown the business to more than£400 million turnover, four production sites and 450 employees.

Endless said in a statement: "Endless’ acquisition of KTC.will provide additional investment for the company’s ambitious growth plans through further development of its operations, range and service offerings. The investment in KTC adds another exceptional British food business to Endless’ existing portfolio, which includes Hovis, Bright Blue Foods and Yorkshire Premier Meat."

Paresh Mehta, CEO of KTC, said “This is fantastic news for KTC. While it is business as usual, we are excited by the opportunities new ownership will bring and we look forward to

continuing our rapid growth and development. We would also like to thank the Khera family for building such a strong business and supporting the company and its employees over the last 50 years.”

Aidan Robson, Partner of Endless, added: “We are thrilled to have been given the opportunity to acquire KTC. Through its strong relationships with suppliers and customers, KTC has demonstrated its importance to the UK food industry at a time of increasing volatility across the global food market. We look forward to supporting Paresh and the wider KTC team as we build upon the excellent platform laid down by the founding family.”

Wells Fargo Capital Finance (UK) Limited supported the transaction. Nigel Hogg, head of EMEA Commercial Credit, said: “We are delighted to be supporting Endless in the

acquisition of KTC, a superb business with a strong position within the food sector”

KTC was advised by Oghma Partners (corporate finance), Walker Morris (legal), PWC (financial and tax) and Progeny (management advisory).

Endless was advised by Eversheds Sutherland (legal), Interpath (debt advisory and tax), KPMG (financial), Spayne Lindsay (commercial) and Lockton (insurance).