Steelite International, leading manufacturer of tabletop products for the catering and hospitality industry, have been acquired by John Miles and PNC Riverarch Capital.
John Miles has been appointed as CEO of Steelite International, “Having worked in the business for twenty years and served as president of the Americas division for the past eleven years, it fills me with immense pride to have made this personal investment alongside PNC Riverarch.
“Steelite International is known as the leader in the hospitality tableware industry and our goal is to continue that leadership through the introduction of new, creative and innovative products. We will continue the investment in the manufacturing sector to improve efficiencies, service levels and provide value added to our customers. I look forward to working with our management team to grow and improve the business.”
Michael Rost, Managing Director of PNC Riverarch, commented, “We are very pleased to have the opportunity to partner with John Miles and Steelite. The company’s focus on product quality, innovation, and customer service has driven strong brand recognition and attractive financial performance.”
As a result of the acquisition, Former Steelite CEO Kevin Oakes has acquired Royal Crown Derby after a 39 year tenure at Steelite International.
Kevin Oakes said, “Steelite International has been my life’s work and I am honoured to have been part of such a committed and passionate team. I firmly believe that Steelite International is the best in the world and the people, products and company values are testament to this collective success.
“I now look forward to an exciting future working with Steelite International who will represent Royal Crown Derby in the hospitality market.”
Henry Stephenson, Managing Director of Stephensons catering equipment suppliers, said, “We have a fantastic relationship with Steelite and look forward to a prosperous future with them.
“I would especially like to thank Kevin Oakes and say what a fantastic job he has done at Steelite. Kevin has been a pleasure to work with and I wish him every success with Royal Crown Derby.”