Areas, the #3 global leader in the food & beverage and travel retail markets, and previously a subsidiary of Elior Group, is now a separate company following the completion of its acquisition by PAI Partners.

Under PAI’s ownership, the Group has grown from a strong local player to an integrated hotel platform operating at a pan-European level.

Following this transformational acquisition, StellaGroup will transition from the French leader to one of the main European players in the sun protection and closure system market.

Areas is the #3 global leader in the travel catering market, with operations across 13 countries, throughout Europe as well as in the USA, Mexico and Chile, and over 1,900 points of sale globally.

The add-ons bring the number of acquisitions made by M Group Services to eight in just over two years and continue the Group’s strategy of expanding its complementary capabilities in the UK infrastructure services market.

StellaGroup is the leader in the French roller shutter market, as well as in metallic grills and curtains for store protection.

Perstorp will be transferred from PAI Europe IV fund to a new fund managed by PAI Partners with Landmark Partners as lead investor, alongside other co-investors.