M&A Deal Summary

Roark Capital Group Acquires Wingstop

On April 12, 2010, private equity firm Roark Capital Group acquired restaurant Wingstop from Gemini Investors and Bravo Equity Partners

Acquisition Highlights
  • This is Roark Capital Group’s 1st transaction in the Restaurants sector.
  • This is Roark Capital Group’s 11th transaction in the United States.
  • This is Roark Capital Group’s 2nd transaction in Texas.
Investment Fate
  • Wingstop went public in 2015.

M&A Deal Summary

Date 2010-04-12
Target Wingstop
Sector Restaurants
Buyer(s) Roark Capital Group
Sellers(s) Gemini Investors
Bravo Equity Partners
Deal Type Secondary Buyout

Target

Wingstop

Dallas, Texas, United States
website
Wingstop is a chicken wing restaurant chain. Wingstop was founded in 1994 and is based in Dallas, Texas.

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Buyer(S) 1

Buyer

Roark Capital Group

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 33.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Roark Capital Group is a private equity firm that focuses on middle-market investment opportunities. The Firm targets family-owned business transfers, management/corporate buyouts, recapitalizations, going-private transactions, and corporate divestitures. Roark Capital Group pursues companies with revenues between $20 million and $5 billion, and EBITDA of $10 to $500 million. Roark Capital primarily invests in consumer and business services companies, with a particular interest in the franchise, food and restaurant, specialty retail, direct marketing and financial services sectors. Roark Capital Group was formed in 2001 and is headquartered in Atlanta, Georgia.


DEAL STATS #
Overall 12 of 44
Sector (Restaurants) 1 of 9
Type (Secondary Buyout) 6 of 20
State (Texas) 2 of 4
Country (United States) 11 of 42
Year (2010) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-03 Peachtree Business Products

Marietta, Georgia, United States

Peachtree Business Products is a multi-channel direct marketer and distributor of customizable, consumable business supplies and soft capital products to small business owners within a variety of end markets including residential property management, commercial parking management, healthcare, funeral home and church. Peachtree Business Products is based in Marietta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-29 GFL Waste & Recycling Solutions

Pickering, Ontario, Canada

GFL Waste & Recycling Solutions Corp. is an environmental services company with operations in four Canadian provinces. GFL provides non-hazardous solid and liquid waste collection and processing in addition to soil remediation services.

Buy CA$105M

Seller(S) 2

SELLER

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 650M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 10 of 47
Sector (Restaurants) 1 of 3
Type (Secondary Buyout) 3 of 13
State (Texas) 1 of 3
Country (United States) 10 of 47
Year (2010) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-01 Waste Associates

Richmond, Virginia, United States

Waste Associates, LLC is a waste management company specializing in the transportation and disposal of construction and demolition debris, non-hazardous contaminated soils, and certain types of industrial waste.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-12 MicroProbe

Carlsbad, California, United States

MicroProbe is a provider of advanced wafer test solutions to non-memory semiconductor manufacturers. MicroProbe was formed in 2008 and is based in Carlsbad, California.

Buy -
SELLER

Bravo Equity Partners

Fort Worth, Texas, United States

Investor

website


Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Bravo Equity Partners is a private equity firm focused on investing in businesses positioned to benefit from the growth of the US hispanic demographic. Bravo targets equity investments of $5 to $20 million in businesses with $5 to $100 million in yearly revenue. Areas of interest include radio broadcasting, consumer/retail, food/restaurants, construction and waste management services. The Firm will consider transactions ranging from growth financings to buyouts and recapitalizations. Bravo Equity was formerly known as Ventana Partners. Bravo Equity Partners is located in Forth Worth, Texas.


DEAL STATS #
Overall 1 of 1
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2010) 1 of 1