M&A Deal Summary

Centerbridge Partners Acquires CraftWorks

On November 15, 2010, asset manager Centerbridge Partners acquired restaurant CraftWorks

Acquisition Highlights
  • This is Centerbridge Partners’ 1st transaction in the Restaurants sector.
  • This is Centerbridge Partners’ 7th transaction in the United States.
  • This is Centerbridge Partners’ 1st transaction in Tennessee.
Investment Fate
  • CraftWorks went bankrupt in 2020.
  • CraftWorks was sold to a strategic buyer in 2020.

M&A Deal Summary
Date 2010-11-15
Target CraftWorks
Sector Restaurants
Buyer(s) Centerbridge Partners
Deal Type Consolidation

Target

CraftWorks

Chattanooga, Tennessee, United States
website
CraftWorks is a multi-brand restaurant operator headquartered in dual offices between Chattanooga, Tennessee and Broomfield, Colorado USA. It operates restaurants, brewery restaurants and entertainment venues.

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Buyer(S) 1

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 2005
PE ASSETS 16.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 8 of 46
Sector (Restaurants) 1 of 2
Type (Consolidation) 1 of 1
State (Tennessee) 1 of 2
Country (United States) 7 of 38
Year (2010) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-11 KAG

North Canton, Ohio, United States

KAG provides transportation and logistics services to the fuel, chemical, liquid food and merchant gas sectors in the U.S. and Canada. KAG was founded in 1997 and is based in North Canton, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-28 BankUnited

Miami Lakes, Florida, United States

BankUnited is the largest bank headquartered in Florida, and has 85 branches located in 13 coastal counties of Florida with a particularly strong presence in the Miami-Dade, Broward and Palm Beach counties. Based on deposit market share, BankUnited is the eighth largest depository institution operating in Florida. BankUnited is a full-service financial services firm offering consumer and commercial loans as well as a range of deposit products. BankUnited was founded in 2009 and is based in Miami Lakes, Florida.

Sell -
Mergr

Product

Company

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