Advent's Singer: Caterer is four-star triumph of buyout fundamentals.(Brief Article)

Byline: David Carey

The adage is timeworn but, to John Singer's mind, it bears retelling: The more LBO firms do to foster growth and profits of the companies they own, the higher their returns are apt to be.

"Simply to bring financial skills to support a management team, which is then left to its own devices" isn't smart, admonishes Singer, a managing director in Advent International Ltd.'s London office. "You have to know how to add value and grow businesses," especially when debt financing is in short supply. "An entrepreneurial, industrial approach -- as opposed to a purely financial approach -- is the key to maintaining value for one's investors." …