Roark Capital Group Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Roark Capital Group has acquired 3 companies. It has also invested in 3 others.

Roark Capital Group’s most common sectors for investment are restaurants (22%) and franchising (20%). The Firm’s most common investment types include secondary buyout (49%) and buyout (lbo, mbo, mbi) (27%). In total, Roark Capital Group has invested in 20 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2020 when it acquired ServiceMaster Global Holdings - ServiceMaster Brands for $1.6B.

In the last 3 years, Roark Capital Group has exited 6 companies. The Firm’s most common exit type is trade sale (36%).

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M&A Summary

  • M&A Total Activity55
    • M&A Buy Activity41
    • M&A Sell Activity14
  • Total Sectors Invested 14
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 13
  • M&A Advisors 7

Roark Capital Group

1180 Peachtree Street NE, Suite 2500,
Atlanta, Georgia 30309
United States
(404) 591-5200
www.roarkcapital.com

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.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Distribution, Environmental, Financial Services, Food, Franchising, Information Technology, Manufacturing, Marketing, Restaurants, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, Recapitalization, Secondary Buyout, Stake Purchase, Venture, Merger

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 20 5,000
Target EBITDA 10 500
Investment Size 50 1,000
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (1.8/yr) # 32 3 1 1 4 - 41
vol $324M $1.6B $1.9B
Sell (1.4/yr) # 7 1 2 2 1 1 14
  55

Most Recent M&A

Company Date Value Type
Driven Brands, Inc. 2021-01-07 - IPO
Charlotte, North Carolina · www.drivenbrands.com
Corner Bakery Cafe 2020-10-30 - Add-on Acquisition
Dallas, Texas · www.cornerbakerycafe.com
ServiceMaster Global Holdings, Inc. - ServiceMaster Brands 2020-09-02 1.6B USD Divestiture
Memphis, Tennessee
US Sports Camps, Inc. 2020-08-31 - Growth Capital
San Rafael, California · www.ussportscamps.com
Divisions Maintenance Group 2020-08-17 - Growth Capital
Newport, Kentucky · www.divisionsmg.com
The Cheesecake Factory, Inc. 2020-04-20 - Stake Purchase
Calabasas Hills, California · www.thecheesecakefactory.com
Drybar Holdings LLC 2019-12-19 - Add-on Acquisition
Irvine, California · www.thedrybar.com
Jimmy John's Franchise LLC 2019-09-25 - Add-on Acquisition
Champaign, Illinois · www.jimmyjohns.com
Fitness Connection 2019-02-04 - Secondary Buyout
McLean, Virginia · www.fitnessconnectionusa.com.
Bandon Holdings LLC 2018-05-21 - Secondary Buyout
Woodbury, Minnesota · www.anytimefitness.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Inspire Brands, Inc. 2011-07-05 Jimmy John's Franchise LLC 2019-09-25 5
Atlanta, Georgia · www.inspirebrands.com Champaign, Illinois · www.jimmyjohns.com
Self Esteem Brands LLC 2018-01-01 The Bar Method Media, Inc. 2019-09-12 2
Woodbury, Minnesota · www.sebrands.com San Francisco, United States · www.barmethod.com
International Car Wash Group Ltd. 2017-08-17 Car Wash USA Express 2019-05-06 2
London, United Kingdom · www.imo-carwash.com.au , United States
FOCUS Brands, Inc. 2001-11-01 Jamba, Inc. 2018-08-02 6
Atlanta, Georgia · www.focusbrands.com Emeryville, California · www.jambajuice.com
Inspire Brands, Inc. 2011-07-05 Buffalo Wild Wings, Inc. 2017-11-28 4
Atlanta, Georgia · www.inspirebrands.com Minneapolis, Minnesota · www.buffalowildwings.com
QualaWash Holdings LLC 2012-07-02 Alpha Technical Services Corp. LLC 2017-08-15 15
Tampa, Florida · www.qualawash.com Pasadena, Texas · www.alphatechserv.com
QualaWash Holdings LLC 2012-07-02 Action Resources, Inc. - Tank Wash Business 2017-05-11 14
Tampa, Florida · www.qualawash.com Hanceville, Alabama
Pet Valu Canada, Inc. 2009-08-31 Bosley's Pet Food Plus, Inc. 2010-04-21 2
Markham, Ontario · www.petvalu.com Richmond, British Columbia · www.bosleys.com
FOCUS Brands, Inc. 2001-11-01 Cinnabon, Inc. 2004-11-04 5
Atlanta, Georgia · www.focusbrands.com Atlanta, Georgia · www.cinnabon.com

M&A by Sector

Sector Current # Value All-time # Value
Restaurants 7 (29%) - 9 (22%) -
Franchising 6 (25%) - 8 (20%) -
Retail 3 (13%) 144M (8%) 6 (15%) 144M (8%)
Consumer Services 1 (4%) 1.6B (92%) 3 (7%) 1.6B (83%)
Environmental 1 (4%) - 3 (7%) 180M (10%)
Business Services 2 (8%) - 3 (7%) -
Marketing - - 2 (5%) -
Automotive 1 (4%) - 1 (2%) -
Distribution - - 1 (2%) -
Education 1 (4%) - 1 (2%) -
Food - - 1 (2%) -
Healthcare Services 1 (4%) - 1 (2%) -
Information Technology - - 1 (2%) -
Leisure 1 (4%) - 1 (2%) -
Total 24 $1.7B 41 $1.9B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 22 (92%) 1.6B (92%) 37 (90%) 1.7B (88%)
  California 4 (17%) - 6 (15%) -
  Georgia 3 (13%) - 5 (12%) -
  Florida 3 (13%) - 4 (10%) 100M (5%)
  Texas - - 3 (7%) -
  Wisconsin 1 (4%) - 2 (5%) -
  Minnesota 1 (4%) - 2 (5%) -
  Illinois 1 (4%) - 2 (5%) -
  Tennessee 1 (4%) 1.6B (92%) 1 (2%) 1.6B (83%)
  Virginia 1 (4%) - 1 (2%) -
  Vermont 1 (4%) - 1 (2%) -
  New Jersey 1 (4%) - 1 (2%) -
  Mississippi 1 (4%) - 1 (2%) -
  Michigan 1 (4%) - 1 (2%) -
  Kentucky 1 (4%) - 1 (2%) -
  Arizona 1 (4%) - 1 (2%) -
  Alabama 1 (4%) - 1 (2%) -
  Pennsylvania - - 1 (2%) -
  North Carolina - - 1 (2%) -
  Maryland - - 1 (2%) -
  Colorado - - 1 (2%) -
Canada 1 (4%) 144M (8%) 3 (7%) 224M (12%)
  Ontario 1 (4%) 144M (8%) 2 (5%) 224M (12%)
  British Columbia - - 1 (2%) -
United Kingdom 1 (4%) - 1 (2%) -
Domestic 22 (92%) 1.6B (92%) 37 (90%) 1.7B (88%)
Cross-border 2 (8%) 144M (8%) 4 (10%) 224M (12%)
Total 24 $1.7B 41 $1.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 12 (50%) 144M (8%) 20 (49%) 144M (8%)
Buyout (LBO, MBO, MBI) 4 (17%) - 11 (27%) 180M (10%)
Growth Capital 3 (13%) - 5 (12%) -
Consolidation 2 (8%) - 2 (5%) -
Stake Purchase 2 (8%) - 2 (5%) -
Divestiture 1 (4%) 1.6B (92%) 1 (2%) 1.6B (83%)
Total 24 $1.7B 41 $1.9B

Exits by Deal Type

Type Total # Value
Secondary Sale 5 (36%) -
Trade Sale 4 (29%) -
IPO 2 (14%) -
Merger 2 (14%) -
Trade Sale - Public Company 1 (7%) -
Total 14 -

Top M&A Advisors

Financial Deals
Credit Suisse Investment Banking
 1
J.P. Morgan Securities LLC
 1
North Point Advisors LLC
 1
Legal Deals
Paul, Weiss, Rifkind, Wharton & Garrison LLP
 5
DLA Piper
 5
King & Spalding LLP
 5

Deal Values

buy # Total
> $1B 1 $1.6B
$100M to $1B 1 $144M
< $100M 2 $180M
TOTAL $1.9B
Largest ServiceMaster Global Holdings, Inc. - ServiceMaster Brands
$1.6B (2020-09-02)

M&A Connections

Deals
Acquired from
Investor(s)
49%
20 (49%)
Strategic(s)
2%
1 (2%)
Exited to
Investor(s)
36%
5 (36%)
Strategic(s)
43%
6 (43%)

Investor Summary

Size

Mega

PE Assets

18.0B USD

Established

2001

Specialist/Generalist

Generalist

Leadership

Neal Aronson

Managing Partner

Paul Ginsberg

President

Erik Morris

Senior Managing Director

Ezra Field

Senior Managing Director

William Roche

CCO

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