M&A Deal Summary

Axum Capital Partners Acquires Back Yard Burgers

On July 10, 2017, private equity firm Axum Capital Partners acquired franchising company Back Yard Burgers from Pharos Capital Group and Harbert Private Capital

Acquisition Highlights
  • This is Axum Capital Partners’ 1st transaction in the Franchising sector.
  • This is Axum Capital Partners’ 2nd transaction in the United States.
  • This is Axum Capital Partners’ 1st transaction in Tennessee.

M&A Deal Summary

Date 2017-07-10
Target Back Yard Burgers
Sector Franchising
Buyer(s) Axum Capital Partners
Sellers(s) Pharos Capital Group
Harbert Private Capital
Deal Type Secondary Buyout

Target

Back Yard Burgers

Nashville, Tennessee, United States
Back Yard Burgers is a fast casual, better-burger concept that takes pride in its commitment to "providing custom, flame-grilled burgers and sandwiches with care." The company's franchise partners and employees are passionate about offering fresh ingredients, allowing their guests to customize their meals and serve the same high-quality food they would offer at home to their own family. Along with made-to-order gourmet Angus burgers, Back Yard Burgers' menu includes delicious grilled chicken sandwiches, fresh and creative salads, hand-dipped milkshakes, and freshly baked desserts. Today the franchise brand operates 55 locations (23-company owned and 33 franchised restaurants) in 11 states. Back Yard Burgers is a strong supporter of Share Our Strength - No Kid Hungry, whose goal is to end childhood hunger in America. Back Yard Burgers was founded in 1987 and is based in Nashville, Tennessee.

Search 201,771 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Axum Capital Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Axum Capital Partners LLC is a lower middle-market private equity firm that targets strategic investments in businesses that 'play a fundamental role in fulfilling critical consumer or business needs'. These include food and beverage, education services, and other markets with demonstrated economic resilience. Prospective companies generally have a history of stable financial performance, strong growth prospects, and sustainable competitive advantages. Axum Capital Partners was formed in 2008 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 2 of 2
Sector (Franchising) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-25 Wild Wing Café

Charlotte, North Carolina, United States

Wild Wing Café owns, operates, franchises restaurants and provides catering services in the United States. Wild Wing Café was founded in 1990 and is based in Charlotte, North Carolina.

Buy -

Seller(S) 2

SELLER

Pharos Capital Group

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Pharos Capital Group is a private equity firm that provides later-stage equity funding to companies at or near cash-flow break even. Investment funds are typically used to support growth, acquisitions, management buyouts, or recapitalization. Pharos looks to commit $20 to $50 million per transaction. Target sectors include healthcare, business services, and technology. Pharos prefers US-based opportunities. Pharos Capital Group was formed in 1998 and is based in Dallas, Texas.


DEAL STATS #
Overall 18 of 23
Sector (Franchising) 1 of 1
Type (Secondary Buyout) 4 of 6
State (Tennessee) 7 of 7
Country (United States) 17 of 22
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-24 Logan River Academy

Logan, Utah, United States

Logan River Academy is an adolescent residential treatment center based in Logan, Utah. With a strong emphasis on both education and therapy, Logan River features a nurturing, therapeutic living environment, a fully-accredited high quality education program, and a full range of group, individual, family and chemical dependency counseling.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Complete Health

Jacksonville, Florida, United States

Complete Health is a physician-centric, professionally managed, technology-enabled primary care group delivering exceptional quality, support service and outcomes. The Company focuses on providing comprehensive care, primarily to Medicare beneficiaries, which results in keeping people healthy and lowering the total cost to the system. Complete Health is based in Jacksonville, Florida.

Buy -
SELLER

Harbert Private Capital

Birmingham, Alabama, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 4.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.


DEAL STATS #
Overall 33 of 43
Sector (Franchising) 1 of 1
Type (Secondary Buyout) 8 of 8
State (Tennessee) 3 of 3
Country (United States) 32 of 42
Year (2017) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-06 Highwinds

Winter Park, Florida, United States

Highwinds is a multi-platform IP services provider that specializes in software, content delivery network and IP infrastructure services (transport, hosting and storage). Highwinds is based in Winter Park, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-10 Wyndham Jade

Plano, Texas, United States

Wyndham Jade is an event and travel management company that specializes in convention housing and registration, meeting management, incentive programs, business travel management and site selection. A pioneer in convention housing, Wyndham Jade has helped clients strategically manage housing and registration services for more than 30 years. With offices in Texas, Arizona, Iowa, Georgia and Chicago, Wyndham Jade has the resources to offer a complete event and travel solution to associations and companies. Backed by innovation, Wyndham Jade offers a complete technology solution by combining housing and registration into one integrated platform.

Sell -