M&A Deal Summary

Golden Gate Capital, Capital Southwest and Capitala Group Acquire California Pizza Kitchen

On May 25, 2011, private equity firm Golden Gate Capital, business development company Capital Southwest and asset manager Capitala Group acquired restaurant California Pizza Kitchen for 470M USD

Acquisition Highlights
  • This is Golden Gate Capital’s 3rd, Capital Southwest’s 1st and Capitala Group’s 1st transaction in the Restaurants sector.
  • This is Golden Gate Capital’s 13th, Capital Southwest’s 2nd and Capitala Group’s largest (disclosed) transaction.
  • This is Golden Gate Capital’s 55th, Capital Southwest’s 6th and Capitala Group’s 37th transaction in the United States.
  • This is Golden Gate Capital’s 15th, Capital Southwest’s 1st and Capitala Group’s 6th transaction in California.
Investment Fate
  • California Pizza Kitchen went bankrupt in 2020.

M&A Deal Summary

Date 2011-05-25
Target California Pizza Kitchen
Sector Restaurants
Buyer(s) Golden Gate Capital
Capital Southwest
Capitala Group
Deal Type Going Private
Deal Value 470M USD
Advisor(s) Moelis & Co. (Financial)
Latham & Watkins (Legal)

Target

California Pizza Kitchen

Costa Mesa, California, United States
California Pizza Kitchen is a casual dining chain featuring an imaginative line of hearth-baked pizzas, including the original BBQ Chicken Pizza, and a broad selection of distinctive pasta, salads, appetizers, soups, sandwiches, and desserts. California Pizza Kitchen was founded in 1985 and is based in Costa Mesa, California.

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Buyer(S) 3

Buyer

Golden Gate Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golden Gate Capital is a large private equity firm focused on buyout and growth equity investments across a wide variety of industries. The Firm partners with management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. Sectors of interest include software and IT services, semiconductors, electronics, consumer products and retail, financial services, business services, and media. Prospective transaction types include public-to-privates, corporate extractions, bankruptcy auctions, and recapitalizations. Golden Gate Capital was formed in 2000 and is based in San Francisco, California.


DEAL STATS #
Overall 62 of 112
Sector (Restaurants) 3 of 5
Type (Going Private) 7 of 11
State (California) 15 of 23
Country (United States) 55 of 100
Year (2011) 5 of 7
Size (of disclosed) 13 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-29 California Check Cashing Stores

Oakland, California, United States

California Check Cashing Stores, LLC is a leading retailer of alternative financial services including check cashing, short-term consumer loans ('payroll advance'), wire transfers and bill payment services. The Company focuses on serving unbanked and underbanked consumers, many of whom seek alternatives to traditional banking relationships in order to gain convenient and immediate access to cash.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-26 FreeScale Semiconductor

Austin, Texas, United States

Freescale Semiconductor, Inc. is a designer and manufacturer of embedded semiconductors for the automotive, consumer, industrial, networking and wireless markets. FreeScale designs, researches and development, manufacturing or sales operations in more than 30 countries.

Sell -
DESCRIPTION

Capital Southwest Corp. is a credit focused business development company focused on providing financing to profitable, mid-sized companies throughout the US. The Firm doesn't have any sector preferences and will consider a variety of investment structures. Capital Southwest Corp. was originally established in 1961 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 6 of 50
Sector (Restaurants) 1 of 1
Type (Going Private) 1 of 2
State (California) 1 of 4
Country (United States) 6 of 49
Year (2011) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-31 The RectorSeal

Houston, Texas, United States

The RectorSeal Corporation is a manufacturer of chemical specialty sealants and other related products designed for professional tradesmen in the plumbing, HVAC, electrical, construction, industrial, oil field and automotive applications industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-26 Titan Liner

Midland, Texas, United States

Titan Liner manufactures, installs and rents spill-containment systems primarily for oilfield applications.

Buy -
Buyer

Capitala Group

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1998
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capitala Group is an asset manager that provides equity and mezzanine capital to mid-sized companies valued up to $250 million. Funds are generally used to support growth needs, add-on acquisitions, management/leveraged buyouts, and recapitalizations. Capitatala will invest across the US, but generally targets opportunities located in the Southeast. Industry preferences include building products, business services, consumer/reteail, general industrial, healthcare, and technology. Prospective companies typically have revenues greater than $10 million and EBITDA of at least $3 million. Capitala was formed in 1998 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 38 of 98
Sector (Restaurants) 1 of 3
Type (Going Private) 1 of 1
State (California) 6 of 10
Country (United States) 37 of 97
Year (2011) 4 of 11
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-04 Hallcon

Chicago, Illinois, United States

Hallcon is a provider of mission-critical transportation services and infrastructure for a broad range of customers including railroads, universities, airports, hospitals and healthcare systems, public transit, technology, industrial companies, and other large employers seeking custom transportation solutions. Hallcon was founded in 1946 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 Living Earth

Dallas, Texas, United States

Living Earth is a manufacturer and provider of mulch, compost, and other landscaping materials in the State of Texas. The Company operates thirteen locations, primarily in the metropolitan areas of Dallas and Houston, selling to commercial contractors and nurseries. Living Earth was founded in 1985 and is based in Dallas, Texas.

Sell -