West Lane Capital Partners and Wheel Capital Partners have acquired a majority interest in Epicurean Catering.
Epicurean is a provider of custom and handmade hors d’oeuvres and other high volume food items to Las Vegas hotels and event spaces, and stadiums. The company’s food products use a range of proteins and ingredients including beef and pork, fish and shellfish, fruits and vegetables, and poultry and fowl. Epicurean was founded in 2001 by Supreya and Steven Voelkening and is headquartered in Las Vegas, Nevada.
In partnership with West Lane and Wheel Capital, David Friedman will lead Epicurean as its new CEO. Mr. Friedman has more than 25 years of experience in the food industry. Most recently, from 2008 to 2019, Mr. Friedman was the CEO and founder of Epic Burger, a Chicago-headquartered all natural fast casual restaurant group backed by Boston-based Cue Ball Group.
“We are thrilled to partner with West Lane and Wheel Capital as the company embarks on its next phase of growth,” said Mr. Friedman. “With their support, Epicurean is well-positioned to accelerate its expansion plans and continue to provide the highest level of service to its clients.”
“We are excited to partner with Epicurean and support its talented team in achieving their growth objectives,” said Nick Sternberg, the founder and managing partner of West Lane. “This investment is a testament to our confidence in the company’s ability to deliver exceptional value to its clients and capitalize on growth opportunities in the market.”
Los Angeles-based West Lane invests in North American-based companies that have from $2 million to $20 million of EBITDA, more than $10 million in revenue, and have enterprise values from $10 million to $150 million. Sectors of interest include consumer products, food and beverage, business services, logistics, and manufacturing.
“We have enjoyed spending time with Epicurean’s founder’s Supreya and Steven Voelkening and are honored they have entrusted us with the business going forward,” said Patrick Moulder, the founder and managing partner of Wheel Capital. “We also look forward to partnering with Chef David Friedman, Chef Erik Sandoval, Chef Chris Young and the entire Epicurean team to continue providing best-in-class products and service to all of our customers.”
Las Vegas-based Wheel Capital Partners makes control investments in North American-based companies that have up to $4 million in EBITDA. The firm will also make select non-control investments of $1 million to $5 million.
© 2023 Private Equity Professional | February 28, 2023
