M&A Deal Summary

Nimes Capital and Southfield Mezzanine Capital Acquire Togo s Eateries

On December 15, 2015, family office Nimes Capital and mezzanine finance firm Southfield Mezzanine Capital acquired restaurant Togo s Eateries from Mainsail Partners

Acquisition Highlights
  • This is Nimes Capital’s 1st and Southfield Mezzanine Capital’s 1st transaction in the Restaurants sector.
  • This is Nimes Capital’s 2nd and Southfield Mezzanine Capital’s 5th transaction in the United States.
  • This is Nimes Capital’s 1st and Southfield Mezzanine Capital’s 1st transaction in California.

M&A Deal Summary

Date 2015-12-15
Target Togo s Eateries
Sector Restaurants
Buyer(s) Nimes Capital
Southfield Mezzanine Capital
Sellers(s) Mainsail Partners
Deal Type Secondary Buyout

Target

Togo s Eateries

San Jose, California, United States
Togo's Eateries is a franchisor of Togo’s “West Coast Original” quick service sandwich shops, located in the Western US. Togo's Eateries was founded in 1971 and is headquartered in San Jose, California.

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Buyer(S) 2

DESCRIPTION

Nimes Capital is the investment arm of Nazarian Enterprises, a family office established by Younes and David Nazarian to diversify and manage the capital of the Nazarian family. Nimes Capital seeks to invest in, support and build targeted portfolios of companies in high-growth asset classes with strong management teams in businesses with high barriers to entry. Nimes Capital is an active investor that looks to assist with the growth and success of its partners. The Firm will consider direct investments in profitable enterprises with $3 to $15 million of EBITDA as well as opportunities in real estate. Nimes Capital is based in Los Angeles, California.


DEAL STATS #
Overall 2 of 2
Sector: Restaurants M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: California M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-02 Pacific Island Restaurants

Honolulu, Hawaii, United States

Pacific Island Restaurants is the sole franchisee of Pizza Hut, Taco Bell, A&W and Long John Silver’s restaurants in Hawaii and Guam, and the sole franchisee of Pizza Hut in Saipan. Pacific Island Restaurants was founded in 1971 and is based in Honolulu, Hawaii.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-07 Pacific Island Restaurants

Honolulu, Hawaii, United States

Pacific Island Restaurants is the sole franchisee of Pizza Hut, Taco Bell, A&W and Long John Silver’s restaurants in Hawaii and Guam, and the sole franchisee of Pizza Hut in Saipan. Pacific Island Restaurants was founded in 1971 and is based in Honolulu, Hawaii.

Sell $105M
DESCRIPTION

Southfield Mezzanine Capital is a mezzanine finance provider that looks to invest $5 to $20 million to support profitable ($3+ million of EBITDA) manufacturing, business services, and distribution companies across the US. Prospective transaction situation include acquisition financings, growth capital financings, and recapitalizations. Southfield Mezzanine Capital was formed in 2013 and is headquartered in Greenwich, Connecticut.


DEAL STATS #
Overall 5 of 16
Sector: Restaurants M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: California M&A 1 of 3
Country: United States M&A 5 of 16
Year: 2015 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-27 Elite Medical Staffing

Lake Mary, Florida, United States

Elite Medical Staffing is a provider of temporary staffing of specialty nurses to institutions, such as hospitals, rehab centers and clinics throughout the United States, as well as private duty. Elite Medical Staffing is based in Lake Mary, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Private Label Skin

St. Petersburg, Florida, United States

Private Label Skin is a private label and contract manufacturer of stock and custom skincare and cosmeceuticals, as well as direct-to-consumer, full-scale fulfillment services to online retailers and marketers. Private Label Skin is based in St. Petersburg, Florida.

Buy -

Seller(S) 1

SELLER

Mainsail Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2003
PE ASSETS 2.2B USD
Size Large
Type Sector Focused
DESCRIPTION

Mainsail Partners is a private equity firm that principally targets investments in North American bootstrapped software companies with proven business models and long-term growth potential. Mainsail looks commit $10 to $75 million of equity capital per transaction in businesses generating annual revenues of $4 to $25 million. Mainsail Partners was formed in 2003 and is based in San Francisco, California.


DEAL STATS #
Overall 9 of 29
Sector: Restaurants M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 6
State: California M&A 3 of 9
Country: United States M&A 9 of 29
Year: 2015 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-03 Extensiv

El Segundo, California, United States

Extensiv is a cloud-based supply chain software provider, offering warehouse management solutions that are robust, reliable, secure, cost-effective and easy to use. Extensiv was founded in 2006 and is based in El Segundo, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-08 Brilliant Earth

San Francisco, California, United States

Brilliant Earth is a retailer of Beyond Conflict Free diamonds and ethically sourced fine jewelry. Brilliant Earth sells custom-designed and vintage jewelry directly to customers through its website and showrooms in San Francisco and Los Angeles. Brilliant Earth was founded in 2005 and is based in San Francisco, California.

Buy -