Centre Partners has completed the acquisition of Captain D’s, a fast-casual restaurant chain, from Sun Capital Partners which acquired the company in May 2010. Captain D’s senior management team will own a significant stake in the business and continue to serve in their current roles.
Captain D’s operates a national chain of 521 seafood-themed fast-casual restaurants in 26 states. The restaurants offer grilled fish, as well as shrimp, chicken, shrimp & beef kabobs, hushpuppies, desserts and freshly brewed, southern style sweet tea. The company was founded in 1973 and is headquartered in Nashville (www.captainds.com).
“We’re excited to invest in Captain D’s and to partner with CEO Phil Greifeld and his executive team. Captain D’s differentiated menu of high quality seafood products at a value price point clearly distinguishes it from its competitors and the business is managed exceptionally well. We look forward to supporting Phil and the team, who have laid the foundation for very attractive growth in the coming years,” said Bruce Pollack, Managing Partner of Centre Partners.
Centre Partners invests from $20 million to $60 million in North American based middle market companies that have $50 million to $500 million in revenue and $10 million to $60 million in EBITDA. Sectors of interest include healthcare; industrial products and services; financial services; energy; media; restaurants; retail; and aviation services. The firm is currently investing through its fifth fund with $650 million of committed capital. Centre Partners was founded in 1986 and has offices in New York and Los Angeles (www.centrepartners.com).
“We are excited to have Centre as our partner as we embark upon a path of accelerated growth. We have succeeded in driving same store growth for the last 28 periods, while improving our customer experience. Our customers have responded positively to recent improvements in Captain D’s menu and we’re even more excited by new initiatives that are just now being introduced,” said Mr. Greifeld.
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-3-13
