Trusthouse Acquisition Finalized

Gryphon Investors and CEO Michael Bailey have completed the previously announced sale of TrustHouse Services Group to Elior SCA, a prominent French contract and concessions catering firm. Elior partnered with its two main shareholders and TrustHouse’s management for the acquisition. Terms of the transaction were not disclosed.Trusthouse manages more than 675 client accounts across 45 states primarily in the education, healthcare and corrections segments. It had revenues of $451 million in 2012 and was No. 7 on FM's Top 50 2013 Contract Management Companies listing.