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Investment Summary

Exits Krystal

On January 19, 2020, invested in restaurant Krystal from Argonne Capital Group, Tenth Street Capital and Triangle Capital

Investment Highlights
  • This is transaction in the Restaurants sector.
  • This is transaction in the United States.
  • This is transaction in Georgia.
Investment Fate
  • Krystal was sold to a consortium of financial buyers in 2020.

Investment Summary
Date 2020-01-19
Target Krystal
Sector Restaurants
Sellers(s) Argonne Capital Group
Tenth Street Capital
Triangle Capital
Deal Type Bankruptcy

Target

Krystal

Dunwoody, Georgia, United States
Krystal is an operator of a chain of restaurants well known for its signature menu item, the famous Krystal Burger, with its steamed-in onion flavor. Krystal hamburgers are still served fresh and hot off the grill on the iconic square bun at 300 restaurants in 10 states. Krystal was founded in 1932 and is based in Dunwoody, Georgia.

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Seller(S) 3

SELLER

Argonne Capital Group

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Argonne Capital Group is a private investment firm that looks to acquire majority interests in cash flow positive companies. Argonne seeks businesses that can benefit from the firm's real estate and financing experience in terms of growth through new unit development. Sectors of interest include restaurants, retail, manufacturing, distribution, fitness, consumer services, dealerships, and light industrial. The Firm can commit up to $100 million per transaction and general targets companies with cash-flow of $5 to $75 million. Argonne Capital Group was established in 2003 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 2 of 2
Sector (Restaurants) 1 of 1
Type (Bankruptcy) 1 of 1
State (Georgia) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-07 LandPro Equipment

Falconer, New York, United States

LandPro Equipment is specialized in agriculture hardware, yard, and nursery items, utility vehicles, business worksite items, and golf and turf gear. LandPro Equipment is based in Falconer, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-21 Schill Grounds Management

North Ridgeville, Ohio, United States

Schill Grounds Management is a privately held commercial landscaping company. Schill Grounds Management was founded in 1993 and is based in North Ridgeville, Ohio.

Buy -
SELLER

Tenth Street Capital

Chattanooga, Tennessee, United States

Investor Investor

Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tenth Street Capital is an independent investment firm that seeks to invest in lower middle-market companies operating in a broad range of industries. The Firm provides mezzanine and equity co-investments to profitable businesses with strong market positions and diverse customers. Areas of interest include manufacturing, distribution, and services. Investment proceeds are generally used to support acquisitions, buyouts, and recapitalizations. Tenth Street Capital was formed in 2005 and is based in Chattanooga, Tennessee.

DEAL STATS #
Overall 17 of 21
Sector (Restaurants) 1 of 1
Type (Bankruptcy) 1 of 1
State (Georgia) 1 of 2
Country (United States) 17 of 21
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-31 Mid America Specialty Services

Ozark, Missouri, United States

Mid America Specialty Services is a provider of architectural restoration and related maintenance services for the metal, stone, wood, and glass surfaces. Mid America Specialty Services was founded in 1985 and is based in Ozark, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-27 Clarke Solutions

Fishers, Indiana, United States

Clarke Solutions is a manufacturing and packaging services provider specializing in Validation and Verification, Project Management & Integration, Operations and Change Management, and Engineering – Subject Matter Expertise including Automation, Packaging, Serialization, and Vision. Clarke Solutions was founded in 1997 and is based in Fishers, Indiana.

Sell -
SELLER

Triangle Capital

Raleigh, North Carolina, United States
Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 67 of 72
Sector (Restaurants) 3 of 3
Type (Bankruptcy) 2 of 3
State (Georgia) 5 of 5
Country (United States) 66 of 71
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-03 Custom Windows & Doors

Ocala, Florida, United States

Custom Window Systems, Inc. is a designer and manufacturer of windows, doors, and porch enclosure products in the southeastern United States. CWS offers a full range of aluminum impact-resistant windows and doors, aluminum and vinyl non-impact windows and doors, and porch enclosure products. Custom Window Systems, Inc. was founded in 1986 and is based in Ocala, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-21 Centerfield

Los Angeles, California, United States

Centerfield is a technology-driven marketing and customer acquisition company driving millions for sales for residential services, business services, and telecommunications brands. Centerfield's marketing and sales technology platform, Dugout, and leading consumer guides engage with in-market consumers to help them purchase internet, TV, wireless, landline, and home security, amongst other products and services. Centerfield was founded in 2011 and is headquartered in Los Angeles with offices in Boston, New York, South Florida, Kingston and Montego Bay.

Sell -
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