M&A Deal Summary

Garnett Station Partners Acquires Firebirds Wood Fired Grill

On March 27, 2023, private equity firm Garnett Station Partners acquired restaurant Firebirds Wood Fired Grill from J.H. Whitney Capital Partners

Acquisition Highlights
  • This is Garnett Station Partners’ 6th transaction in the Restaurants sector.
  • This is Garnett Station Partners’ 15th transaction in the United States.
  • This is Garnett Station Partners’ 1st transaction in North Carolina.

M&A Deal Summary

Date 2023-03-27
Target Firebirds Wood Fired Grill
Sector Restaurants
Buyer(s) Garnett Station Partners
Sellers(s) J.H. Whitney Capital Partners
Deal Type Recapitalization
Advisor(s) North Point Advisors LLC (Financial)

Target

Firebirds Wood Fired Grill

Charlotte, North Carolina, United States
Firebirds International is a contemporary-polished casual restaurant with 48 locations throughout the U.S. Firebirds Wood Fired Grill offers guests a unique dining experience featuring an exposed kitchen with its signature wood-burning grill. Firebirds International was founded in 2000 and is based in Charlotte, North Carolina.

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Buyer(S) 1

DESCRIPTION

Garnett Station Partners is a private equity firm focused on the consumer sector. Specific areas of interest include food/beverage, health/wellness, automotive, and residential services. The Firm looks to commit $25 to $200 million per investment and will consider opportunities throughout North America. Garnett Station Partners was formed in 2013 and is headquartered in New York City.


DEAL STATS #
Overall 15 of 17
Sector (Restaurants) 6 of 6
Type (Recapitalization) 2 of 2
State (North Carolina) 1 of 1
Country (United States) 15 of 17
Year (2023) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-11 Flagstop Car Wash

Richmond, Virginia, United States

Flagstop Car Wash provides car wash in Richmond that offers free vacuums, free mat cleaners, free-to-use body and glass towels, glass cleaner, and free air fresheners. Flagstop Car Wash is based in Richmond, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-13 FirstRidge Service Partners

Minnetonka, Minnesota, United States

FirstRidge Service Partners is building a network of roofing and exterior service providers by partnering with best-in-class founders and management teams nationwide. FirstRidge Service Partners is based in Minnetonka, Minnesota.

Buy -

Seller(S) 1

SELLER

J.H. Whitney Capital Partners

New Canaan, Connecticut, United States

Category Private Equity Firm
Founded 1946
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

J.H. Whitney & Co. is a private equity firm focused on small and middle-market buyouts and recapitalizations of US-based, growth-oriented companies. The Firm targets companies with $50 to $500 million in revenue and looks to invest $20 to $125 million per transaction. Industries of interest include consumer, healthcare, specialty manufacturing, and business services. J.H. Whitney & Co. was formed in 1946 and is based in New Canaan, Connecticut.


DEAL STATS #
Overall 25 of 27
Sector (Restaurants) 4 of 4
Type (Recapitalization) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 24 of 26
Year (2023) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-05 Aveanna Healthcare

Atlanta, Georgia, United States

Aveanna Healthcare is a provider of pediatric home care with 180 locations in 23 states, and 26,000 caregivers currently serving over 40,000 patients. Aveanna Healthcare was founded in 2016 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-24 Alphia

Denver, Colorado, United States

Alphia manufactures natural, functional, and organic foods and treats for dogs, cats, fish, and reptiles. With multiple, state-of-the-art manufacturing facilities centrally located in the heart of America’s breadbasket, it serves domestic and international markets with products of the quality standards available. Alphia was founded in 1985 and is based in Denver, Colorado.

Sell -