M&A Deal Summary

Roark Capital Group Acquires Miller s Ale House

On July 22, 2013, private equity firm Roark Capital Group acquired restaurant Miller s Ale House from KarpReilly

Acquisition Highlights
  • This is Roark Capital Group’s 4th transaction in the Restaurants sector.
  • This is Roark Capital Group’s 19th transaction in the United States.
  • This is Roark Capital Group’s 3rd transaction in Florida.

M&A Deal Summary

Date 2013-07-22
Target Miller s Ale House
Sector Restaurants
Buyer(s) Roark Capital Group
Sellers(s) KarpReilly
Deal Type Secondary Buyout
Advisor(s) North Point Advisors LLC (Financial)
Ropes & Gray (Legal)

Target

Miller s Ale House

Orlando, Florida, United States
Miller's Ale House is a full service restaurant provider of top‐quality food at a great value in a casual neighborhood tavern atmosphere. Miller's Ale House was founded in 1988 and is based in Orlando, Florida.

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Buyer(S) 1

Buyer

Roark Capital Group

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 33.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Roark Capital Group is a private equity firm that focuses on middle-market investment opportunities. The Firm targets family-owned business transfers, management/corporate buyouts, recapitalizations, going-private transactions, and corporate divestitures. Roark Capital Group pursues companies with revenues between $20 million and $5 billion, and EBITDA of $10 to $500 million. Roark Capital primarily invests in consumer and business services companies, with a particular interest in the franchise, food and restaurant, specialty retail, direct marketing and financial services sectors. Roark Capital Group was formed in 2001 and is headquartered in Atlanta, Georgia.


DEAL STATS #
Overall 21 of 44
Sector (Restaurants) 4 of 9
Type (Secondary Buyout) 12 of 20
State (Florida) 3 of 5
Country (United States) 19 of 42
Year (2013) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-30 Massage Envy

Scottsdale, Arizona, United States

Massage Envy is a franchisor of therapeutic massage services. Massage Envy offers professional and affordable therapeutic massage services to consumers with busy lifestyles, offering convenience, high quality, and excellent value. Massage Envy was founded in 2002 and is based in Scottsdale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-19 CKE Restaurants

Franklin, Tennessee, United States

CKE Restaurants is a franchisor and operator of quick-service restaurants. CKE owns, operates and franchises some of the most popular brands in the quick-service restaurant industry, including the Carl’s Jr., Hardee’s, Green Burrito and Red Burrito. CKE Restaurants was founded in 1941 and is based in Franklin, Tennessee.

Buy -

Seller(S) 1

SELLER

KarpReilly

Greenwich, Connecticut, United States

Category Private Equity Firm
Founded 2007
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

KarpReilly is a private equity firm focused on partnering with small to mid-size growth companies across a broad range of industries. The Firm looks to commit $10 to $25 million of equity capital per investment. Sectors of interest include building materials, business services, consumer brands, healthcare services, retail, and restaurants. KarpReilly will consider both minority or majority investment positions in transactions that include growth financings, management buyouts, acquisition financings, and recapitalizations. KarpReilly was formed in 2007 and is headquartered in Greenwich, Connecticut.


DEAL STATS #
Overall 5 of 14
Sector (Restaurants) 1 of 4
Type (Secondary Buyout) 1 of 5
State (Florida) 1 of 1
Country (United States) 5 of 13
Year (2013) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-17 Sprinkles Cupcakes

Beverly Hills, California, United States

Sprinkles Cupcakes, Inc. offers cupcakes, cupcake mixes, and other retail items.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-16 Spyder Active Sports

Boulder, Colorado, United States

Spyder Active Sports designs and markets the most recognized and respected brand of high-performance, technically-oriented skiwear in the world.

Sell -