M&A Deal Summary

Levine Leichtman Capital Partners Acquires Shipley Do-Nuts

On July 28, 2025, mezzanine finance firm Levine Leichtman Capital Partners acquired franchising company Shipley Do-Nuts from Peak Rock Capital

Acquisition Highlights
  • This is Levine Leichtman Capital Partners’ 7th transaction in the Franchising sector.
  • This is Levine Leichtman Capital Partners’ 74th transaction in the United States.
  • This is Levine Leichtman Capital Partners’ 11th transaction in Texas.

M&A Deal Summary

Date 2025-07-28
Target Shipley Do-Nuts
Sector Franchising
Buyer(s) Levine Leichtman Capital Partners
Sellers(s) Peak Rock Capital
Deal Type Secondary Buyout
Advisor(s) North Point Advisors (Financial)
Kirkland & Ellis (Legal)

Target

Shipley Do-Nuts

Houston, Texas, United States
Shipley Do-Nuts is a donut restaurant franchisor and manufacturer of specialty food products. Shipley Do-Nuts was founded in 1936 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.


DEAL STATS #
Overall 91 of 92
Sector: Franchising M&A 7 of 7
Type: Secondary Buyout M&A Deals 36 of 37
State: Texas M&A 11 of 11
Country: United States M&A 74 of 74
Year: 2025 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-10 NMi Certin

Delft, Netherlands

NMi Certin is an independent specialist for legal metrology testing and inspection services in Europe and a trusted brand globally. NMi specializes in type approval & certification, verification & calibration, and consultancy services covering a broad range of advice on complex regulations and accreditations. NMi Certin was founded in 1937 and is based in Delft, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-17 Entro

Munich, Germany

Entro provides testing, inspection, repair, and installation services to entrance, fire safety, and access control systems. The company supports its customers to navigate increasingly strict regulatory requirements for operational safety and enabling optimised operational efficiency. Entro is headquartered in Hamburg, Germany.

Buy -

Seller(S) 1

SELLER

Peak Rock Capital

Austin, Texas, United States

Category Private Equity Firm
Founded 2012
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Peak Rock Capital is a generalist private equity firm that makes debt and equity investments in middle-market companies. The Firm targets businesses with $50 million to $1 billion in revenue and can commit up to $500 million per transaction. Sectors of interest include business services, consumer products, distribution, energy services, healthcare, industrials, manufacturing, media, and metals. Peak Rock will consider a variety of transaction situations - from leveraged buyouts and recapitalizations to special situations. Peak Rock is based in Austin, Texas.


DEAL STATS #
Overall 23 of 23
Sector: Franchising M&A 1 of 1
Type: Secondary Buyout M&A Deals 9 of 9
State: Texas M&A 3 of 3
Country: United States M&A 21 of 21
Year: 2025 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-16 Amtech

Fort Washington, Pennsylvania, United States

Amtech is a provider of software solutions for the corrugated and folding carton manufacturing industries. Amtech’s fully integrated product suite of modules, multilingual, and enterprise solutions provide a compelling value proposition to the full spectrum of manufacturers. Amtech was founded in 1981 and is based in Fort Washington, Pennsylvania.

Sell -