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M&A Deal Summary

Thompson Street Capital Partners and Golub Capital Acquire Freddy’s Frozen Custard & Steakburgers

On March 3, 2021, private equity firm Thompson Street Capital Partners and lender Golub Capital acquired franchising company Freddy’s Frozen Custard & Steakburgers

Acquisition Highlights
  • This is Thompson Street Capital Partners’ 1st and Golub Capital’s 2nd transaction in the Franchising sector.
  • This is Thompson Street Capital Partners’ 63rd and Golub Capital’s 63rd transaction in the United States.
  • This is Thompson Street Capital Partners’ 1st and Golub Capital’s 2nd transaction in Kansas.

M&A Deal Summary
Date 2021-03-03
Target Freddy’s Frozen Custard & Steakburgers
Sector Franchising
Buyer(s) Thompson Street Capital Partners
Golub Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Freddy’s Frozen Custard & Steakburgers

Wichita, Kansas, United States
Freddy’s Frozen Custard & Steakburgers is a franchisor of fast-casual restaurants. Freddy’s fast-casual restaurants feature steakburgers, shoestring fries, and freshly churned frozen custard. The Company’s family-friendly restaurants focus on premium quality ingredients, cooked-to-order food, and best-in-class hospitality. Freddy’s Frozen Custard & Steakburgers was founded in 2002 and is based in Wichita, Kansas.

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Buyer(S) 2

Buyer

Thompson Street Capital Partners

St. Louis, Missouri, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Thompson Street Capital Partners is a private equity firm that targets control stakes in profitable, mid-sized North American companies with $5 to $20 million of EBITDA. Thompson Street looks for family businesses, private companies seeking liquidity, corporate divestitures, and public companies going private. Areas of interest include healthcare services, business services, electronics, information technology, and engineered products companies. Thompson Street will not consider investments in start-ups, early stage companies, or real estate. Thompson Street Capital was founded in 2000 and is based in St. Louis, Missouri.

DEAL STATS #
Overall 63 of 73
Sector (Franchising) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 29 of 30
State (Kansas) 1 of 1
Country (United States) 63 of 72
Year (2021) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 Marmic

Joplin, Missouri, United States

Marmic is a full-service fire protection company providing inspection, maintenance, repair, and installation services to commercial customers throughout the United States. Marmic was formed in 1951 and is based in Joplin, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-05 Tabs3

Lincoln, Nebraska, United States

Tabs3 is a provider of financial and practice management software for small to mid-size law firms. The Company’s flagship software platform, Tabs3, performs mission-critical billing, time-keeping, and financial management functions and automates back-office workflows. PracticeMaster, STI’s practice management software platform, delivers non-financial practice management tools to manage cases, contacts, calendars, and documents. Tabs3 and PracticeMaster are fully integrated and provide users with a single unified interface. Tabs3 was founded in 1979 and is based in Lincoln, Nebraska.

Sell -
Buyer

Golub Capital

New York, New York, United States

Category Lender
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.

DEAL STATS #
Overall 65 of 69
Sector (Franchising) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 16 of 16
State (Kansas) 2 of 2
Country (United States) 63 of 66
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-05 E2open

Austin, California, United States

E2open is a provider of cloud-based, on-demand software solutions enabling enterprises to procure, manufacture, sell, and distribute products more efficiently through collaborative planning and execution across global trading networks. E2open was founded in 2000 and is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Dental Services Group

St. Petersburg, Florida, United States

Dental Services Group is an operator of a full-service laboratory network with over 40 dental laboratories that offers dental prosthetic solutions, including fixed, removable, implant, orthodontic and sleep dentistry products. Dental Services Group was founded in 1989 and is based in St. Petersburg, Florida.

Sell -
Mergr

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