Investment Summary

RedZone Capital Management Exit Johnny Rockets

On June 18, 2013, growth capital firm Winona Capital Management and private equity firm Sun Capital Partners invested in restaurant Johnny Rockets from RedZone Capital Management

Investment Highlights
  • This is Winona Capital Management’s 2nd and Sun Capital Partners’ 13th transaction in the Restaurants sector.
  • This is Winona Capital Management’s 8th and Sun Capital Partners’ 79th transaction in the United States.
  • This is Winona Capital Management’s 2nd and Sun Capital Partners’ 10th transaction in California.
Investment Fate
  • Johnny Rockets was sold to a publicly-traded strategic buyer in 2020 for 25M USD.

Investment Summary

Date 2013-06-18
Target Johnny Rockets
Sector Restaurants
Investor(s) Winona Capital Management
Sun Capital Partners
Sellers(s) RedZone Capital Management
Deal Type Secondary Buyout
Advisor(s) North Point Advisors (Financial)

Target

Johnny Rockets

Lake Forest, California, United States
The Johnny Rockets Group, Inc. is an international restaurant franchise that offers high quality, innovative menu items including items including Certied Angus Beef® cooked-to-order hamburgers, Boca Burger®, chicken sandwiches, crispy fries and rich, delicious hand-spun shakes and malts. Johnny Rockets was established in 1986 and is based in Lake Forest, California.

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Investor(S) 2

Investor

Winona Capital Management

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2006
PE ASSETS 125M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Winona Capital Management is a private investment firm that makes direct investments in consumer related middle-market companies. Winona targets growth companies generating sales of $10 to $100 million and EBITDA of at least $1 million. The Firm can commit up to $15 million per transaction. Specific areas of interest include niche consumer goods and services; sports, recreation and leisure; specialty manufacturing and distribution; growth-oriented, multi-unit specialty food and retail; and education services. Winona's investment horizon is five years. Winona Capital Management is based in Chicago, Illinois.


DEAL STATS #
Overall 9 of 17
Sector: Restaurants M&A 2 of 2
Type: Secondary Buyout M&A Deals 1 of 2
State: California M&A 2 of 2
Country: United States M&A 8 of 14
Year: 2013 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-09 LK International AG

Hünenberg, Switzerland

LK International AG (KJUS) stands for sportswear made of innovative, high-performance material with a distinctive, clean design. The award-winning collections Ski, Golf and Lifestyle are developed by passionate sports experts and tested by professional athletes. The products are designed to enable sportspeople to focus on the experience. Driven by an enthusiasm for sports and an uncompromising vision, KJUS continues to push farther, innovating with every seam, fabric, and detail.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-13 I and love and you

Boulder, Colorado, United States

I and love and you is a producer and supplier of pet food products. I and love and you make super-premium pet food products that are made with real meat, fish, or poultry and contain no grains, fillers, or anything artificial. I and love and you was founded in 2011 and is based in Boulder, Colorado.

Buy -
Investor

Sun Capital Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Sun Capital's corporate headquarters in Boca Raton, Florida.
Sun Capital's corporate headquarters in Boca Raton, Florida.

Sun Capital Partners is a large private equity firm focused on leveraged buyouts, equity, debt, and other control investments in North America, Asia, and Europe. Sun looks for businesses that can benefit from the Firm's operating experience including underperformers, turnarounds, and special situations. Target companies typically have $50 million to $1 billion in revenue with strong market positions. Sectors of interest include paper and packaging, food and beverages, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, restaurants, manufacturing and industrial. Sun Capital was formed in 1995 and is based in Boca Raton, Florida.


DEAL STATS #
Overall 115 of 172
Sector: Restaurants M&A 13 of 14
Type: Secondary Buyout M&A Deals 22 of 45
State: California M&A 10 of 16
Country: United States M&A 79 of 118
Year: 2013 M&A 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-30 Life Uniform Co.

St. Louis, Missouri, United States

Life Uniform is the leading retailer of specialty healthcare apparel in the United States and one of the only national multi-channel retailer in the medical apparel industry with products being sold through 195 stores, catalogs, e-commerce, and sales events held at major hospitals and medical facilities. Products include medical scrubs, lab coats, pants, shoes, and accessories such as stethoscopes, bags, and badge holder.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-01 Flavor 1st Growers & Packers

Mills River, North Carolina, United States

Flavor 1st Growers & Packers is a grower, packager and distributor of branded and private-label fresh produce. With origins dating back to 1798, the company provides vine ripened tomatoes and a full line of vegetables that are sold to large grocery chains and wholesale buyers. Flavor 1st maintains a commitment to providing the highest quality product on the market, with focus on freshness, new product innovation and connecting customers to the farm. The company ships from Florida to Boston and as far west as the Rocky Mountains.

Buy -

Seller(S) 1

DESCRIPTION

RedZone Capital Management is a private equity firm formed in 2006 and based in McLean, Virginia.


DEAL STATS #
Overall 1 of 1
Sector: Restaurants M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 Johnny Rockets

Lake Forest, California, United States

The Johnny Rockets Group, Inc. is an international restaurant franchise that offers high quality, innovative menu items including items including Certied Angus Beef® cooked-to-order hamburgers, Boca Burger®, chicken sandwiches, crispy fries and rich, delicious hand-spun shakes and malts. Johnny Rockets was established in 1986 and is based in Lake Forest, California.

Buy -