M&A Deal Summary

TriArtisan Capital Advisors and Nord Bay Capital Acquire HOA

On July 1, 2019, private equity firm TriArtisan Capital Advisors and family office Nord Bay Capital acquired restaurant HOA from H.I.G. Private Equity and Chanticleer Holdings

Acquisition Highlights
  • This is TriArtisan Capital Advisors’ 3rd and Nord Bay Capital’s 1st transaction in the Restaurants sector.
  • This is TriArtisan Capital Advisors’ 7th and Nord Bay Capital’s 1st transaction in the United States.
  • This is TriArtisan Capital Advisors’ 1st and Nord Bay Capital’s 1st transaction in Georgia.

M&A Deal Summary
Date 2019-07-01
Target HOA
Sector Restaurants
Buyer(s) TriArtisan Capital Advisors
Nord Bay Capital
Sellers(s) H.I.G. Private Equity
Chanticleer Holdings
Deal Type Secondary Buyout
Advisor(s) Piper Jaffray Companies (Financial)

Target

HOA

Atlanta, Georgia, United States
HOA is an operator of over 430 Hooters restaurants in 44 states and 27 foreign countries. HOA is well-known for its brand of food and fun, featuring a casual beach-theme atmosphere, a menu that features seafood, sandwiches and Hooters nearly, chicken wings, and service provided by the All-American cheerleaders, the Hooters Girls. HOA was founded in 1983 and is based in Atlanta, Georgia.

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Buyer(S) 2

Buyer

TriArtisan Capital Advisors

Investor Investor Investor

Category Private Equity Firm
Founded 2002
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

TriArtisan Capital Advisors is a private equity firm focused on mid-sized company investments and acquisitions. The Firm targets profitable companies with $25 to $300 million of EBITDA operating in a variety of industries including retail, business services, industrial, media, and healthcare. Prospective transaction situations include buyouts, growth equity investments, spin-offs, carve-outs, roll-ups, recapitalizations, and restructurings. TriArtisan Capital Advisors was originally established in 2002 and is headquartered in New York City.

DEAL STATS #
Overall 7 of 7
Sector (Restaurants) 3 of 3
Type (Secondary Buyout) 2 of 2
State (Georgia) 1 of 1
Country (United States) 7 of 7
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-01 P.F. Chang’s

Scottsdale, Arizona, United States

P.F. Chang’s is an operator of full-service restaurants that feature high-quality, authentic Chinese cuisine, and American hospitality in a contemporary bistro setting. P.F. Chang’s was founded in 1993 and is based in Scottsdale, Arizona.

Buy -
Buyer

Nord Bay Capital

Category Family Office
Size Small
Type Sector Agnostic
DESCRIPTION

Nord Bay Capital is a family office focused on direct and co-investments in mid-sized US-based businesses. Nord Bay Capital prefers established, non-cyclical companies with strong market positions. Nord Bay Capital is headquartered in Clearwater, Florida.

DEAL STATS #
Overall 1 of 1
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1

Seller(S) 2

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 112 of 174
Sector (Restaurants) 1 of 2
Type (Secondary Buyout) 43 of 70
State (Georgia) 12 of 13
Country (United States) 85 of 120
Year (2019) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 Metalprint

Calcinato, Italy

Metalprint is a manufacturer of brass and aluminium components. Metalprint supports its clients over the entire process of product design and development and adopts a highly automatized production process. Metalprint Srl operates in Canada through Jebco Manufacturing, North American leader in the high precision machining of aluminium components. Metalprint was founded in 1974 and is based in Calcinato, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-18 CDI Technologies

Markham, Ontario, Canada

CDI Technologies is a refurbisher and remarketer of enterprise-grade IT equipment to educational institutions.

Sell -
SELLER

Chanticleer Holdings

Charlotte, North Carolina, United States
Category Company
Founded 1999
Sector Restaurants
Employees876
Revenue 30M USD (2019)
DESCRIPTION

Chanticleer Holdings, Inc. is an owner and operator's restaurant in the US. Chanticleer Holdings was founded in 1999 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 1 of 2
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 2
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-03 Little Big Burger

Portland, Oregon, United States

Little Big Burger is a gourmet fast-casual restaurant concept with eight locations in Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-10 Biosub

Charlotte, North Carolina, United States

Biosub is a biotechnology company

Sell -
Mergr

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