M&A Deal Summary

Fortress and Golden Child Holdings Acquire Krystal

On May 22, 2020, asset manager Fortress and distressed investor Golden Child Holdings acquired restaurant Krystal

Acquisition Highlights
  • This is Fortress’ 2nd and Golden Child Holdings’ 1st transaction in the Restaurants sector.
  • This is Fortress’ 29th and Golden Child Holdings’ 1st transaction in the United States.
  • This is Fortress’ 2nd and Golden Child Holdings’ 1st transaction in Georgia.

M&A Deal Summary
Date 2020-05-22
Target Krystal
Sector Restaurants
Buyer(s) Fortress
Golden Child Holdings
Deal Type Special Situations/Distressed

Target

Krystal

Dunwoody, Georgia, United States
Krystal is an operator of a chain of restaurants well known for its signature menu item, the famous Krystal Burger, with its steamed-in onion flavor. Krystal hamburgers are still served fresh and hot off the grill on the iconic square bun at 300 restaurants in 10 states. Krystal was founded in 1932 and is based in Dunwoody, Georgia.

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Buyer(S) 2

Buyer

Fortress

New York, New York, United States
Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.

DEAL STATS #
Overall 37 of 45
Sector (Restaurants) 2 of 3
Type (Special Situations/Distressed) 6 of 7
State (Georgia) 2 of 2
Country (United States) 29 of 34
Year (2020) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-18 TRAC Intermodal

Princeton, New Jersey, United States

TRAC Intermodal is a provider of short-term rentals through an extensive chassis pool network, long-term chassis leasing, and pool & fleet management through the utilization of its proprietary PoolStat® information management system. TRAC Intermodal was founded in 1968 and is based in Princeton, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-10 Finjan

East Palo Alto, California, United States

Finjan is a global provider of proactive web security solutions for businesses and organizations. Its comprehensive web security appliances deliver an effective shield against web-borne threats, freeing enterprises to harness the web for maximum commercial results. Finjan's solutions use patented behavior-based technology to repel all types of threats arriving via the web, such as spyware, phishing/pharming, trojans, and other malicious code. Finjan's award-winning solutions help businesses focus on implementing web strategies to realize their full organizational and commercial potential. Finjan was formed in 1997 and is based in East Palo Alto, California.

Buy $44M
Buyer

Golden Child Holdings

Category Distressed Investor
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 1 of 1
Sector (Restaurants) 1 of 1
Type (Special Situations/Distressed) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Mergr

Product

Company

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