M&A Deal Summary

Wind Point Partners Acquires VICORP Restaurants

On June 17, 2003, private equity firm Wind Point Partners acquired restaurant VICORP Restaurants from Fairmont Capital and Goldner Hawn Johnson & Morrison for 226M USD

Acquisition Highlights
  • This is Wind Point Partners’ 1st transaction in the Restaurants sector.
  • This is Wind Point Partners’ 2nd largest (disclosed) transaction.
  • This is Wind Point Partners’ 15th transaction in the United States.
  • This is Wind Point Partners’ 2nd transaction in Colorado.
Investment Fate
  • VICORP Restaurants went bankrupt in 2008.

M&A Deal Summary

Date 2003-06-17
Target VICORP Restaurants
Sector Restaurants
Buyer(s) Wind Point Partners
Sellers(s) Fairmont Capital
Goldner Hawn Johnson & Morrison
Deal Type Secondary Buyout
Deal Value 226M USD

Target

VICORP Restaurants

Denver, Colorado, United States
VICORP Restaurants, Inc. is an operator of branded family-style restaurants.

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Buyer(S) 1

Buyer

Wind Point Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wind Point Partners is a private equity firm focused on acquisitions of mid-sized companies operating in the business services, consumer products, healthcare services, and industrial products sectors. Wind Point looks to invest $60 to $130 million in companies valued up to $500 million. Prospective transaction types include leveraged buyouts, recapitalizations, industry consolidations, and growth capital financings. Wind Point Partners began investing in 1984 and is based in Chicago.


DEAL STATS #
Overall 15 of 82
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 2 of 27
State (Colorado) 2 of 3
Country (United States) 15 of 75
Year (2003) 3 of 7
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-01 Benchmark Medical

Malvern, Pennsylvania, United States

Benchmark Medical, Inc. is a provider of musculoskeletal rehabilitation services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-01 America s Powersports

Allen, Texas, United States

America's Powersports is an operator of an auto dealer network for the power sports equipment manufacturers (“OEMs”), including Harley-Davidson, Honda, Yamaha, Kawasaki, Suzuki, Polaris, and Bombardier. America's Powersports was founded in 1998 and is based in Allen, Texas.

Buy -

Seller(S) 2

SELLER

Fairmont Capital

Anaheim, California, United States

Investor Investor


Category Private Equity Firm
Founded 1986
Size Small
Type Sector Agnostic
DESCRIPTION

Fairmont Capital is a private equity firm that seeks investments in middle-market consumer related businesses. Fairmont targets companies with at least $10 million in annual revenue. Prospective transactions are typically valued between $5 and $300 million. Fairmont will consider investment situations that include leveraged acquisitions and management buyouts, going private restructurings, co-investments with other private equity firms, and recapitalizations. Industry sectors of interest include manufacturing, retail, restaurant chains, distribution, and service. Fairmont will not invest in high technology, financial services, real estate, and start-ups. Fairmont Capital is based in Brea, California.


DEAL STATS #
Overall 1 of 4
Sector (Restaurants) 1 of 3
Type (Secondary Buyout) 1 of 4
State (Colorado) 1 of 1
Country (United States) 1 of 4
Year (2003) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-14 VICORP Restaurants

Denver, Colorado, United States

VICORP Restaurants, Inc. is an operator of branded family-style restaurants.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-25 Garden Fresh

San Diego, California, United States

Garden Fresh offers a broad variety of fresh food alternatives in an all-you-care-to-eat format. Each day begins fresh at the more than 100 company-owned restaurants in 11 states. More than 300 million guests since 1978 have helped us be number one in fresh produce and salads, made-from-scratch soups, hot pastas, freshly baked breads and muffins, fresh fruit, desserts, and more. Guests have the freedom to create their own wholesome meal in a one-of-a-kind dining experience in a friendly atmosphere and all at an everyday value.

Buy $98M
SELLER

Goldner Hawn Johnson & Morrison

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 825M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Goldner Hawn Johnson & Morrison (GHJ&M) is a private equity firm that targets middle market companies in the Midwest US. GHJ&M generally looks for businesses valued between $20 and $150 million and looks to invest between $10 to $25 million of equity capital per transaction. Sectors of interest include agribusiness, food, power generation, basic materials, medical products, consumer products, retail, restaurants, consumer services, business services, and industrials. GHJ&M prefers control investments, but in certain instances, the Firm will also consider minority positions. GHJ&M was formed in 1989 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 8 of 33
Sector (Restaurants) 1 of 2
Type (Secondary Buyout) 3 of 14
State (Colorado) 1 of 2
Country (United States) 8 of 33
Year (2003) 3 of 4
Size (of disclosed) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-09 Woodcraft Industries

St. Cloud, Minnesota, United States

Woodcraft Industries, Inc. is a provider of doors and components to original equipment manufacturers ("OEMs") in the kitchen and bathroom cabinet industry.

Sell $145M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-01 Michael Foods

Minnetonka, Minnesota, United States

Michael Foods is a producer of value-added food products and service solutions to customers across the foodservice, retail and food ingredient channels. It holds market positions in attractive categories including value-added egg products, refrigerated potato products and cheese and other dairy case products.

Sell $1.1B