M&A Deal Summary

Oak Hill Capital Acquires Caribbean Restaurants

On September 15, 1999, private equity firm Oak Hill Capital acquired restaurant Caribbean Restaurants from American Securities

Acquisition Highlights
  • This is Oak Hill Capital’s 1st transaction in the Restaurants sector.
  • This is Oak Hill Capital’s 1st transaction in Puerto Rico.
Investment Fate
  • Caribbean Restaurants was sold to a consortium of financial buyers in 2004 for 340M USD.

M&A Deal Summary

Date 1999-09-15
Target Caribbean Restaurants
Sector Restaurants
Buyer(s) Oak Hill Capital
Sellers(s) American Securities
Deal Type Secondary Buyout

Target

Caribbean Restaurants

San Juan, Puerto Rico
website
Caribbean Restaurants operates 171 Burger King restaurants in Puerto Rico and has been in continuous operation for 43 years. CRI is the market leader and most successful quick-service restaurant franchise on the island.

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Buyer(S) 1

Buyer

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


DEAL STATS #
Overall 5 of 73
Sector (Restaurants) 1 of 2
Type (Secondary Buyout) 1 of 24
Country (Puerto Rico) 1 of 1
Year (1999) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-08-09 American Skiing

Park City, Utah, United States

American Skiing Company is an operator of alpine ski, snowboard and golf resorts in the U.S.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-11-01 WideOpenWest

Englewood, Colorado, United States

WideOpenWest is a provider of high-speed Internet, cable TV, and phone serving communities in the U.S. WOW's operating philosophy is to deliver an employee and customer experience that lives up to its name. WideOpenWest was founded in 2001 and is based in Englewood, Colorado.

Buy -

Seller(S) 1

SELLER

American Securities

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1994
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Securities is a large private equity firm that typically partners with management when pursuing company acquisitions. American Securities typically targets US-based companies and generally seeks to commit $300 to $700 million per transaction. Areas of interest include consumer products, restaurants, healthcare, industrial, aerospace, defense, agriculture, environmental, paper/packaging, energy, and specialty chemicals. The Firm was originally formed in 1947 as the family office for William Rosenwald, an heir to the Sears Roebuck & Company, and began accepting outside investors in 1994. American Securities is headquartered in New York City.


DEAL STATS #
Overall 3 of 50
Sector (Restaurants) 1 of 3
Type (Secondary Buyout) 1 of 20
Country (Puerto Rico) 1 of 1
Year (1999) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-01 MVE

Bloomington, Minnesota, United States

MVE, Inc. is a manufacturer and distributor of systems used to transport and store cryogenic elements (CO2, nitrogen, oxygen, and argon) in their liquid states. MVE's equipment is used in a wide variety of industries, including the steel, food, chemical, semiconductor, home health care, restaurant, and animal breeding and biological research.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-01 El Pollo Loco

Costa Mesa, California, United States

El Pollo Loco is a fire-grilled chicken restaurant chain. The Company is known for its citrus-marinated, fire-grilled chicken and handcrafted entrees using fresh ingredients inspired by Mexican recipes. The company operates restaurants across the Southwest and has a leading market position in Southern California. El Pollo Loco was founded in 1980 and is based in Costa Mesa, California.

Buy -