The management at Woodward Foodservice, the catering food supply company, has led a buy-out of the business. The management team, led by chief executive Ed Hyslop, has taken a significant equity stake in the business, with the backing of Lloyds TSB Commercial Finance and investment groups Baugur and Talden. Woodward was part of the Big Food Group before being taken over by a consortium of investors, including Baugur, earlier this year. Hyslop said: "Our new independence gives us greater autonomy, and the freedom to make quick decisions with the backing of Lloyds TSB and the ongoing support from our co-investors, who have retained a sizeable stake in Woodward. This is a sign they believe the management can significantly grow the company and return value to its shareholders. "We operate in a market that has been dominated by two major players. Woodward is in an ideal position to grow market share and provide an alternative, innovative, and efficient service to caterers on a national basis."