M&A Deal Summary

ICV Capital Partners Acquires Diversified Restaurant Holdings

On November 6, 2019, private equity firm ICV Capital Partners acquired restaurant Diversified Restaurant Holdings for 130M USD

Acquisition Highlights
  • This is ICV Capital Partners’ 1st transaction in the Restaurants sector.
  • This is ICV Capital Partners’ largest (disclosed) transaction.
  • This is ICV Capital Partners’ 25th transaction in the United States.
  • This is ICV Capital Partners’ 2nd transaction in Michigan.

M&A Deal Summary
Date 2019-11-06
Target Diversified Restaurant Holdings
Sector Restaurants
Buyer(s) ICV Capital Partners
Deal Type Going Private
Deal Value 130M USD
Advisor(s) Duff & Phelps Corp. (Financial)
Dykema Gossett (Legal)

Target

Diversified Restaurant Holdings

Southfield, Michigan, United States
website
Diversified Restaurant Holdings, Inc. is an owns and operates Bagger Dave's Burger Tavern a full-service, family-friendly restaurant and full bar with a casual, comfortable atmosphere specializing in custom-built, proprietary, fresh prime rib recipe burgers, all-natural turkey burgers, hand-cut fries, locally crafted beers on draft, hand-dipped milkshakes, salads, black bean turkey chili, and much more. Diversified Restaurant Holdings was founded in 1999 and is based in Southfield, Michigan.

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Buyer(S) 1

Buyer

ICV Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1998
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ICV Capital Partners is a private equity firm focused on making equity investments in US-based middle-market companies. ICV seeks control investments in companies with annual revenues between $25 and $300 million and EBITDA between $10 and $40 million. ICV prefers businesses with existing/proven management and operating in stable industries. Target transactions include non-core divestitures, take-privates, and acquisitions of private companies in partnership with management. ICV Capital Partners was founded in 1998 and has offices in New York and Atlanta, Georgia.

DEAL STATS #
Overall 26 of 30
Sector (Restaurants) 1 of 1
Type (Going Private) 1 of 1
State (Michigan) 2 of 2
Country (United States) 25 of 29
Year (2019) 3 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-04 JK&T Wings

Shelby Township, Michigan, United States

JK&T Wings, Inc. is a franchisee of Buffalo Wild Wings ("BWW"). JK&T Wings was founded in 1982 and is based in Shelby Township, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-07 Mintz Group

New York, New York, United States

Mintz Group provides investigative and fact-gathering services that range from enhanced background checks for senior executive hires, to due diligence on parties in proxy fights, to supporting complex litigation cases. Mintz Group investigators conduct thousands of matters each year, giving their clients the facts they need to make sound business decisions. Headquartered in New York City, Mintz Group has 15 offices across eight time zones: New York, San Francisco, Washington, D.C., Chicago, Miami, London, Toronto, Montreal, Sao Paolo, Dubai, Nairobi, Hong Kong, Beijing, Singapore, and Mumbai.

Buy -
Mergr

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Company

Legal