M&A Deal Summary

Intermediate Capital Group Acquires Lunch Garden

On April 16, 2021, mezzanine finance firm Intermediate Capital Group acquired restaurant Lunch Garden from Freshstream

Acquisition Highlights
  • This is Intermediate Capital Group’s 7th transaction in the Restaurants sector.
  • This is Intermediate Capital Group’s 3rd transaction in Belgium.

M&A Deal Summary
Date 2021-04-16
Target Lunch Garden
Sector Restaurants
Buyer(s) Intermediate Capital Group
Sellers(s) Freshstream
Deal Type Secondary Buyout

Target

Lunch Garden

Brussels, Belgium
Lunch Garden is an iconic restaurant brand that offers customers high quality, traditional Belgian cuisine, complemented by popular international dishes, with an average meal price of €11. Located in prime, high-footfall areas, all sites are profitable with Lunch Garden commanding a growing market share within the Belgian restaurant market. Lunch Garden was founded in 1966 and is based in Brussels, Belgium.

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Buyer(S) 1

Buyer

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.

DEAL STATS #
Overall 275 of 293
Sector (Restaurants) 7 of 7
Type (Secondary Buyout) 104 of 115
Country (Belgium) 3 of 4
Year (2021) 8 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-06 Tandym Group

New York, New York, United States

Tandym Group is a recruitment firm focused on serving accounting firms, boutique hedge funds, and private equity funds. Tandym Group was founded in 1985 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-21 Circet

Sollies-Pont, France

Circet is a provider of telecoms infrastructure services. Circet's clients include telecoms operators, manufacturers of telecoms equipment, key accounts owning infrastructures, infrastructure operators, the state and local authorities. Circet was founded in 1993 and is based in Sollies-Pont, France.

Buy -

Seller(S) 1

SELLER

Freshstream

Category Private Equity Firm
Founded 2015
PE ASSETS 600M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Freshstream is a generalist private equity firm focused on opportunities in the UK and Benelux. Freshstream looks to commit €30 to €100 million per transaction and will consider investing in businesses within the healthcare, general manufacturing, financial services, aerospace, branded retail, chemicals, building products, technology, media, and telecom sectors. Freshstream was formed in 2015 and is based in London.

DEAL STATS #
Overall 2 of 5
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 1 of 4
Country (Belgium) 1 of 1
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 DeterTech

Telford, United Kingdom

DeterTech is a provider of innovative and intelligence-led end-to-end security solutions. From crime intelligence to forensic marking and site security, we offer the best security services to significantly reduce the risk of crime. DeterTech was founded in 1993 and is based in Telford, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-14 Away Resorts

Hemel Hempstead, United Kingdom

Away Resorts is a holiday park owner and operator in the UK. It operates six major resorts in prime UK destinations, including Tattershall Lakes in Lincolnshire and Whitecliff Bay on the Isle of Wight, hosting almost 200,000 holiday-makers each year. Away Resorts was founded in 2007 and is based in Hemel Hempstead, United Kingdom.

Sell -
Mergr

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