M&A Deal Summary

Durational Capital Management, TJC and Industrial Investors Group Acquire Bojangles

On November 6, 2018, private equity firms Durational Capital Management, TJC and Industrial Investors Group acquired restaurant Bojangles

Acquisition Highlights
  • This is Durational Capital Management’s 1st, TJC’s 1st and Industrial Investors Group’s 1st transaction in the Restaurants sector.
  • This is Durational Capital Management’s 1st, TJC’s 53rd and Industrial Investors Group’s 2nd transaction in the United States.
  • This is Durational Capital Management’s 1st, TJC’s 4th and Industrial Investors Group’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2018-11-06
Target Bojangles
Sector Restaurants
Buyer(s) Durational Capital Management
TJC
Industrial Investors Group
Deal Type Going Private
Advisor(s) BofA Securities
Houlihan Lokey (Financial)
Shearman & Sterling (Legal)

Target

Bojangles

Charlotte, North Carolina, United States
Bojangles' corporate headquarters in Charlotte, North Carolina.
Bojangles' corporate headquarters in Charlotte, North Carolina.
Bojangles is a restaurant operator and franchisor dedicated to serving customers high-quality, craveable food made from its Southern recipes, including breakfast served All Day, Every Day. Bojangles was founded in 1977 and is based in Charlotte, North Carolina.

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Buyer(S) 3

DESCRIPTION

Durational Capital Management is a private investment firm focused on the consumer sector. The Firm is operationally oriented and looks for opportunities where it can leverage technology and data platforms to improve key company decisions. Durational Capital Management was established in 2017 and is headquartered in New York City.


DEAL STATS #
Overall 1 of 2
Sector: Restaurants M&A 1 of 1
Type: Going Private M&A Deals 1 of 2
State: North Carolina M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2018 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Casper Sleep

New York City, New York, United States

Casper Sleep is a global sleep company that offers a range of Casper mattresses, pillows, sheets and duvets, bedroom furniture and accessories, sleep technology, and related services through its e-commerce platform, 60 Casper retail stores, and 18 retail partners. Casper Sleep was founded in 2013 and is based in New York City, New York.

Buy -
Buyer

TJC

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.


DEAL STATS #
Overall 55 of 96
Sector: Restaurants M&A 1 of 1
Type: Going Private M&A Deals 1 of 2
State: North Carolina M&A 4 of 7
Country: United States M&A 53 of 92
Year: 2018 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-25 Syndigo

Chicago, Illinois, United States

Syndigo is a provider of digital content and retail omnichannel optimization solutions for the consumer-packaged goods and fast-moving consumer goods industries. Syndigo is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-21 Quick International Courier

New York, New York, United States

Quick International Courier, Inc. is a full-service global priority transportation and logistics company, shipping life-saving organs for transplant, critical parts for the high-tech and manufacturing industries or confidential documents for the legal industry. As a highly experienced and proven source for global priority shipping and logistics, Quick delivers fast and reliable door-to-door service for shipping blood and organs for transplant, to critical high-tech parts and medical devices, to crucial time-sensitive and highly confidential documents. Quick International Courier was founded in 1981 and is based in New York.

Sell -
DESCRIPTION

Industrial Investors is a Russian private equity group that invests in turnaround, consolidation and build-up opportunities in Russia and nearby countries. The Firm looks for companies with annual revenue of $50 million to $1 billion and typically seeks majority positions. Areas of interest include transportation, food production and beverage, machinery/mechanical equipment/agri-equipment, biotechnology, and specialized public services. Industrial Investors has offices in London and Monaco.


DEAL STATS #
Overall 9 of 9
Sector: Restaurants M&A 1 of 1
Type: Going Private M&A Deals 1 of 1
State: North Carolina M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-19 Transas

St. Petersburg, Russia

Transas is a manufacturer of onshore marine safety equipment, marine and aviation on-board equipment, integrated navigation systems, marine and aviation training devices, digital navigation and map solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-10 View

Milpitas, California, United States

View designs, manufactures, and sells a new generation of architectural dynamic glass that intelligently adjusts in response to external conditions and user preferences, enabling unparalleled control over the amount of light and heat that enters a building. View was founded in 2006 and is based in Milpitas, California.

Sell -