Nautic Partners Completes Acquisition of Cenavera in Partnership with Management

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SCOTTSDALE, Ariz. & PROVIDENCE, R.I.--(BUSINESS WIRE)--Oct 7, 2025--

Nautic Partners is pleased to announce that, in partnership with management, it has closed the acquisition of Cenavera Nutrition, LLC (“Cenavera”) from Harkness Capital Partners.

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Headquartered in Scottsdale, Arizona, Cenavera is the leading independent foodservice management company focused exclusively on the K-12 school market. The Company was founded in 2004 and has grown into one of the largest K-12 foodservice operators in the country serving public, private and charter schools across 33 states.

Cenavera has grown its market share in the K-12 space by differentiating through scratch-cooked, quality meals that result in higher student participation and engagement. As a fully outsourced solution, Cenavera provides a broad scope of service including menu design, nutritional compliance, procurement, labor, and onsite meal prep, satisfying varying needs across a wide range of constituents including school boards, superintendents, parents and students.

Shahan Zafar, Managing Director at Nautic, said, “We are thrilled to partner with the Cenavera team, led by the strong leadership of co-CEOs Monty Staggs and Jonas Falk, to support the next chapter of their success. Cenavera is a market leader, and we are excited to add another investment to our K-12 outsourced services portfolio within Nautic’s Services group and deepen our broader portfolio of outsourced facility service assets.”

Michael Brofft, Senior Vice President at Nautic, added, “Cenavera is well-positioned to continue outperforming the market driven by its differentiated value proposition. We believe there is significant runway for organic growth given market outsourcing trends and an opportunity to deepen presence across core states and new markets through organic sales initiatives and strategic add-on acquisitions.”

Monty Staggs, Co-CEO of Cenavera, said, “Cenavera has seen record-setting growth over the last several years, outpacing our competitors in the K-12 child nutrition market. Our innovative, food-first approach allows us to stand apart in a service segment that combines regulatory complexity with the unique challenge of simply making meals that kids are excited to eat.” Jonas Falk, Co-CEO of Cenavera added, “Joining the Nautic portfolio marks an exciting milestone for the future of Cenavera Nutrition. This partnership provides us with both the resources and strategic guidance needed to accelerate our growth and broaden our capabilities in the foodservice sphere. We are eager to work alongside the Nautic team to expand our reach, uncover new opportunities, and elevate the value we bring to every single client we serve."

Solomon Partners and McDermott Will & Emery LLP represented Nautic in the transaction. Ares Capital Corporation and MidCap Financial Trust led the financing for the transaction and Simpson Thacher & Bartlett LLP served as financing legal counsel to Nautic. Lazard Freres & Co. and Gibson Dunn advised Harkness Capital Partners.

About Cenavera Nutrition

Cenavera Nutrition is a leading provider of outsourced foodservices for K-12 public, private and charter schools. Founded in 2005 and based in Scottsdale, Arizona, Cenavera is dedicated to providing high quality, culinary-led food to students and school districts and providing the highest quality customer service. Cenavera serves over 350 districts in 33 states. Learn more at www.cenavera.com.

About Nautic Partners

Nautic Partners, LLC is a middle-market private equity firm based in Providence, Rhode Island, that focuses on investments in three sectors: healthcare, industrials, and services. Nautic has completed over 160 platform transactions over its 38-year history. The firm employs a proactive, thematic investment strategy and partners with strong management teams to accelerate the growth of its portfolio companies through strategic add-on acquisitions, targeted operational initiatives, and deep sector expertise. For more information, please visit www.nautic.com.

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CONTACT: Nautic Partners, LLC

Allan Petersen

Managing Director, 401.278.6770

KEYWORD: UNITED STATES NORTH AMERICA RHODE ISLAND ARIZONA

INDUSTRY KEYWORD: PRIMARY/SECONDARY PROFESSIONAL SERVICES EDUCATION RETAIL FINANCE FOOD/BEVERAGE

SOURCE: Nautic Partners, LLC

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PUB: 10/07/2025 05:00 AM/DISC: 10/07/2025 04:58 AM

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