Atlantic Street Capital buys leading Jimmy John’s franchisee

Atlantic Street Capital has acquired The Sandwich Shop Holdings Company. No financial terms were disclosed. Based in Chicago, The Sandwich Shop Holdings Company owns and operates 23 franchised Jimmy John’s Gourmet Sandwich Shop restaurants in the greater Chicago area. PRESS RELEASE STAMFORD, CT, August 4, 2015 – Atlantic Street Capital, a private equity firm targeting entrepreneurial businesses poised for the next level of growth, announced today the acquisition of The Sandwich Shop Holdings Company, a leading franchisee of Jimmy John’s Gourmet Sandwich Restaurants in the greater Chicago area and one of the largest Jimmy John’s franchisees in the U.S. Founded by Jimmy John Liautaud in 1983 and headquartered in Champaign, Illinois, Jimmy John’s is a fast casual submarine sandwich chain with nearly 2,000 restaurants located across the United States. The Sandwich Shop Holdings Company (“TSSHC”) owns and operates 23 franchised Jimmy John’s Gourmet Sandwich Shop restaurants in the greater Chicago area. It was founded in 2001 and is headquartered in Chicago. Faisal Ghani, the founder of TSSHC will serve as Chief Executive Officer of the company. “We are very excited to be investing to help grow the Jimmy John’s brand,” said Andy Wilkins, a Managing Partner at Atlantic Street Capital. “The simplicity, timelessness, and reasonable price points of Jimmy John’s sub sandwiches results in a concept that works in any market and across socio-economic demographics. Faisal and his team have built a strong and profitable company and we look forward to partnering with him and his executive team to broaden the company’s geographic base well beyond the greater Chicago area.” Mr. Ghani, said, “Atlantic Street Capital has the financial and operational resources to help us grow the company beyond the Midwest. Importantly, they understand and share our passion for the Jimmy John’s philosophy whose fresh ingredients and customer value serve as the cornerstone for our success. We look forward to having them as partners in our growth.” About Atlantic Street Capital Atlantic Street Capital is a private equity firm that invests in middle market companies with between $25 and $150 million in revenue. The firm invests in fundamentally sound companies that will benefit from capital investment and value-adding strategic and operational initiatives. Atlantic Street Capital’s partners are hands-on investors who work closely with management to unlock their business’ underlying value and help them succeed. The firm is currently investing from Atlantic Street Capital Partners, L.P. II. For more information, visit www.atlanticstreetcapital.com.

Here is the original post:
Atlantic Street Capital buys leading Jimmy John’s franchisee

Credit Suisse, Jive raise largest Brazil distressed asset fund: Reuters

(Reuters) — Credit Suisse Group AG and Jive Investments Holding Ltd raised Brazil’s largest-ever distressed asset fund, underscoring growing interest in an asset class that has become the flavor of the month as Latin America’s largest economy slips into recession. São Paulo-based Jive raised 500 million reais ($145 million) from Credit Suisse’s private-banking clients in Brazil seeking to diversify into toxic credit and real estate assets, Jive said in a statement. The fund will be called Jive Investments, the statement added. The appetite for problematic property, defaulted loans and other distressed assets is surging in Brazil, where inflation is eroding disposable income and households are defaulting on their loans at the fastest pace in six years. Companies are also succumbing to flagging sales and rising borrowing costs, stoking fire asset sales and loan defaults. Economists expect Brazil’s economy to shrink this year at the steepest pace since 1990. Reuters had reported the joint fundraising efforts between Jive and Credit Suisse last month. The fund was raised among 50 Brazilian clients at Credit Suisse in a so-called restricted effort offering, a source with direct knowledge of the situation said on Monday. Public offerings with restricted efforts differ from standard ones in that a fund does not have to request registration of the plan with regulators, only qualified investors can participate, and the deals cannot be marketed through road shows or the media. Distressed asset funds acquire large credit pools from a bank at a steep discount and then rework each loan individually, profiting after repackaging them into securities, taking over the collateral or restructuring the debt. Funds also make money with toxic property deals by buying them on the cheap and then disposing of them at a higher price. Brazil’s downturn is quickly hitting the quality of credit card, auto and low-ticket working capital loans. Collateralized credit such as payroll or mortgage credit have performed relatively well, although signs of deterioration are showing. Jive, which has about 200 million reais under management, is Brazil’s largest independent buyer of distressed assets. Credit Suisse Hedging-Griffo oversaw about 47 billion reais in client money.

See the original post here:
Credit Suisse, Jive raise largest Brazil distressed asset fund: Reuters

Symphony Technology exits Consilio

Shamrock Capital Advisors is acquiring a majority stake in Consilio. Symphony Technology Group is the seller. Consilio’s management team, which is staying in place, is also investing. Washington D.C.-based Consilio provides eDiscovery and Document Review Service for law firms and corporations. PRESS RELEASE WASHINGTON, D.C. (PRWEB) AUGUST 03, 2015 Consilio, a global leader in eDiscovery and Document Review Services, has announced a new partnership with Los Angeles-based private equity firm Shamrock Capital Advisors. Under the terms of the partnership, Shamrock will take a majority position in Consilio and current owner Symphony Technology Group will divest its position. Consilio’s management team will remain in place and also invest alongside Shamrock. As an industry leader in handling complex, multi-jurisdictional matters across its offices in Europe, Asia and the Americas, Consilio experienced tremendous growth during Symphony’s four years of support. The Shamrock partnership will enable Consilio’s management team to make significant investments in its operations and technology to deliver a superior service experience to its clients. “We have had an extremely successful relationship with the Symphony Technology Group team,” said Andy Macdonald, CEO of Consilio. “Our clients have benefitted tremendously from the improvements we have made in our delivery capabilities, geographic presence and technology. We are eager to build on this strong foundation with Shamrock and continue our high-growth trajectory.” “Shamrock is excited to add Consilio to our portfolio of sector-leading companies,” stated Shamrock Capital Advisors Partner Andy Howard. “Our team has been evaluating companies in the eDiscovery and Document Review Service space for some time, and it has been inspiring to get to know the stellar team at Consilio. Their strategic vision, global capabilities, track record of delivering strong results and commitment to serving clients and employees is exemplary. We are confident this partnership will create significant value for Consilio’s clients and team members.” “We couldn’t be more pleased for the team at Consilio,” stated Romesh Wadhwani, Chairman and CEO of Symphony Technology Group. “Their hard work, focus and dedication have allowed them to succeed and we are excited for their future prospects.” About Consilio Consilio is an international eDiscovery and Document Review Service provider with extensive experience in litigation, antitrust, second requests, and internal and regulatory investigations. The company supports law firms and corporations with innovative software and cost-effective, end-to-end litigation services that include data collection, computer forensics, expert testimony, multilingual and onsite data processing, hosting and document review. ISO 27001 and Safe Harbor certified, the company can deploy its services rapidly and efficiently to clients anywhere in the world from offices and data centers in North America, Europe and Asia. For more information, please visithttp://www.consilio.com. About Shamrock Capital Advisors Shamrock Capital Advisors, LLC is a Los Angeles-based private equity firm with over $700 million of assets under management. Investing exclusively in the media, entertainment, and communications sectors, Shamrock partners with strong management teams and takes an active, collaborative approach to creating value in each investment. Shamrock is currently investing out of Shamrock Capital Growth Fund III, a $400 million fund raised in 2011. Shamrock’s current investments include Consilio, FanDuel, Giant Creative/Strategy, Isolation Network, Mobilitie, Questex, Recorded Books, Screenvision and T3 Media. For more information, visit http://www.shamrockcap.com. About Symphony Technology Group Symphony Technology Group is a strategic private equity firm with the mission of investing in and building great software and services companies. In addition to capital, STG provides transformation expertise to enable its companies to deliver maximum value to their clients, to drive growth through innovation, to retain and attract the best talent and to achieve best in class business performance. STG’s current portfolio consists of 14 global companies. For more information, please visit http://www.symphonytg.com/

Read the rest here:
Symphony Technology exits Consilio

Palisade Capital exits Shoe Sensation

J.W. Childs Associates LP said Tuesday it has acquired a majority interest in Shoe Sensation. Palisade Capital Management L.L.C. was the seller. Financial terms weren’t announced. Jeffersonville, Indiana-based Shoe Sensation is a family footwear retailer in the Midwestern United States. PRESS RELEASE BOSTON–(BUSINESS WIRE)–J.W. Childs Associates, L.P., a private equity firm specializing in leveraged buyouts and recapitalizations of middle-market growth companies, today announced it has acquired a majority interest in Shoe Sensation, a leading family footwear retailer in the Midwestern United States, from Palisade Concentrated Equity Partnership II, L.P., a private equity partnership managed by Palisade Capital Management, L.L.C. Financial terms of the investment were not disclosed. This acquisition represents the third investment by J.W. Childs since the formation of J.W. Childs Equity Partners IV, L.P. in April 2014. Shoe Sensation has been a community-focused retailer of branded footwear for the entire family since 1984. The company offers a broad selection of well-known brands at great prices with outstanding customer service. Shoe Sensation has retail locations in Arkansas, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, Ohio, Pennsylvania, South Dakota, Tennessee, Virginia, West Virginia and Wisconsin. “Shoe Sensation has an attractive business model that addresses the needs of residents in small communities for branded footwear, and the company is well-positioned for further growth within the steadily growing footwear industry,” said Adam Suttin, a Partner at J.W. Childs. “We look forward to working closely with the management team in support of their expansion as they continue to build upon their nearly 30-year heritage.” “Shoe Sensation has experienced over six consecutive years of comparable store revenue growth and, since 2010, has grown from 62 locations in 10 states to 115 stores in 17 states,” said Jeffrey Serkes, Chief Operating Officer of Palisade Capital. “It has been a pleasure working with the company’s management team over the past several years, as both they and Shoe Sensation’s employees have built a terrific culture that has the company poised for continued success.” Three executives from J.W. Childs will join the Shoe Sensation Board of Directors: Partners Adam Suttin and William Watts and Vice President Hemanshu Patel. Also in connection with the acquisition by J.W. Childs, Joseph Fortunato, a long-time specialty retail executive and CEO of GNC from 2005 to 2014, will join the Board. Executives and representatives of Palisade Capital, which had a controlling interest in the company since 2008, will step down from their respective Board positions. “We are thrilled to have J.W. Childs as a partner as we enter a new phase of growth for our company and expand our retail presence over the next several years,” said Mike Zawoysky, Chief Executive Officer of Shoe Sensation. “We are excited to continue serving local communities by leveraging our retail expertise and network of best-in-class brands. I would also like to thank Palisade Capital for their outstanding support during the past seven years.” McDermott Will & Emery LLP provided legal counsel to J.W. Childs. Troutman Sanders LLP provided legal counsel to Shoe Sensation. About Shoe Sensation Shoe Sensation is a leading family footwear retailer serving communities across the Midwest. Since its first store opened in 1984, Shoe Sensation has focused on giving customers of all ages access to top footwear brands. Headquartered in Jeffersonville, Indiana, the company operates more than 115 retail locations across 17 states, including Arkansas, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, Ohio, Pennsylvania, South Dakota, Tennessee, Virginia, West Virginia and Wisconsin. For more information, please visitwww.shoesensation.com. About J.W. Childs Associates, L.P. J.W. Childs is a Boston-based private equity firm focused on investing in middle-market growth companies. Since inception in 1995, J.W. Childs has invested in excess of $3 billion of equity capital in more than 40 best-in-class companies across the consumer, specialty retail and healthcare industries. The firm’s success has been built on its industry focus and the extensive operating expertise of its partners. For more information, please visit www.jwchilds.com. About Palisade Capital Management, L.L.C. Palisade Capital Management, L.L.C., founded in 1995, is an SEC-registered investment adviser with $4.5 billion of assets under management. Palisade manages assets on behalf of institutional clients and high net worth individuals. The firm manages institutional investment strategies focused on small-cap core equities, small-, smid-, and mid-cap growth equities, long/short equities, long-only convertible securities, convertible arbitrage, and private equity. Palisade Capital also provides comprehensive investment management services for individuals. The firm is located in Fort Lee, New Jersey. For more information, visitwww.palisadecapital.com.

Continue reading here:
Palisade Capital exits Shoe Sensation

TA Associates invests in CCRM

TA Associates said Tuesday it has completed a growth equity investment in CCRM. Financial terms weren’t announced. Lone Tree, Colorado-based CCRM operates a network of fertility clinics with locations in Colorado, California, Minnesota, Texas and Toronto, Canada. PRESS RELEASE BOSTON–(BUSINESS WIRE)–TA Associates, a leading global growth private equity firm, today announced it has completed a growth equity investment in CCRM, a leading provider network of fertility treatment services with locations in Colorado, California, Minnesota, Texas and Toronto, Canada. Financial terms of the transaction were not disclosed. With a reputation for world-class physicians, facilities and laboratories, CCRM operates a network of fertility clinics providing a wide variety of treatments from basic infertility care to advanced in vitro fertilization (IVF). Founded by Dr. William Schoolcraft, the CCRM network includes the Colorado Center for Reproductive Medicine, considered one of the nation’s premier fertility centers. As a result of CCRM’s significant and ongoing investment in research and development, the company achieves industry leading IVF success rates. CCRM is headquartered in Lone Tree, Colorado. “We have known the team at TA Associates for several years, and have built a positive, collaborative rapport, and we are excited to welcome the firm as an investor,” said William Schoolcraft, M.D., Founder, CCRM. “Similar to CCRM, we believe that TA has deep experience and a track record of success that bodes well for the future growth of our company. With TA’s support, we will continue our work of combining professional care, research and development, and best laboratory practices in pursuit of optimal outcomes for our patients.” “CCRM has proven excellence in pregnancy success rates,” said Jennifer M. Mulloy, a Managing Director at TA Associates who will join the CCRM Board of Directors. “We believe this success is due to high quality physician partners, extensive research and development efforts, and the company’s resulting best practices in the laboratory. We are very pleased to partner with CCRM to continue to expand the best practices from the existing network to additional locations.” “Partnering with TA Associates is critical to our multi-year effort to expand our footprint in North America and around the world,” said Jon Pardew, President and Chief Executive Officer, CCRM. “With TA’s support, we will continue to broaden our network of leading fertility laboratories. In addition, the highly fragmented U.S. IVF market, with approximately 500 clinics, presents possible future M&A opportunities for CCRM.” “Marketdata Enterprises estimates annual expenditures related to fertility treatment in the United States at $4 billion, and the Centers for Disease Control estimates that approximately 12% of women of reproductive age in the United States, or five to six million, engage in infertility-related medical appointments each year,” said Ethan K. Liebermann, a Senior Vice President at TA Associates who will also join the CCRM Board of Directors. “These figures reflect the marked trend over the last several decades of women seeking to have children later in life. We are confident that given these industry dynamics, and CCRM’s superior clinical outcomes, the company will see continued growth.” Goodwin Procter, LLP provided legal counsel services to TA Associates. Brownstein Hyatt Farber Schreck, LLP served as legal counsel to CCRM. About CCRM CCRM is an international network of in vitro fertilization (IVF) laboratories. CCRM’s mission is to bring together leaders in reproductive medicine to ensure birth rates that consistently exceed industry standards, provide excellence in patient care, and advance the future of IVF through research and development. The CCRM network includes the Colorado Center for Reproductive Medicine, founded in 1987 by Dr. William Schoolcraft, as well as other partnerships and locations in California, Colorado, Minnesota, Texas and Toronto, Canada. For more information, please visit www.ccrmivf.com. About TA Associates TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 450 companies around the world and has raised over $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.

Visit link:
TA Associates invests in CCRM

ProTransport-1 buys PRN Ambulance

ProTransport-1 LLC, a portfolio company of New Heritage Capital, has acquired PRN Ambulance. Financial terms weren’t announced. North Hills, California-based PRN Ambulance is an interfacility medical transport provider. PRESS RELEASE BOSTON–(BUSINESS WIRE)–New Heritage Capital (“Heritage”) is pleased to announce that its portfolio company ProTransport-1, LLC has acquired PRN Ambulance. PRN Ambulance is a leading interfacility medical transport provider in Los Angeles, exhibiting impressive growth since it was founded in 2000. Beginning operation with just three ambulances, PRN now features a staff of more than 350 employees delivering care from a fleet of 60 response vehicles throughout the greater LA metro area. Since its inception, PRN has provided prompt, professional, quality service and leading patient care while embracing innovation in the industry. ProTransport-1, headquartered in Cotati, CA, is a premier provider of comprehensive patient logistics services to leading healthcare systems in its service areas. ProTransport-1 provides the highest levels of patient care while employing leading technologies and highly skilled medical professionals to enable the safe and efficient coordination and transport of large numbers of medically complex patients within a health system and its environment. The company receives the highest satisfaction ratings from its patients and health system partners. Founded in 2000, ProTransport-1 was recapitalized in 2012 by its founders and New Heritage Capital. Since 2012, the company has grown its staff from 600 to over 950 personnel and it now operates more than 170 vehicles. “Acquiring PRN marks an important step in our deliberate expansion into additional geographies,” said Mike Sechrist, co-founder and CEO of ProTransport-1. “The Los Angeles market is home to many sophisticated health systems looking for the high quality and efficient coordination of patients that the ProTransport-1 model provides. PRN is already a leading partner to health systems in Los Angeles. The addition of many of our technologies and services will further enhance these relationships.” Avo Avetisyan, the founder of PRN, commented, “I spent the past 15 years building a business that provided the highest quality interfacility medical transport in the Los Angeles area. I wanted to find a partner that could add to what we do for patients and our hospital customers while preserving the caring, local culture exhibited every day by our team of professionals. I am excited that the PRN name and team will have this opportunity to continue to flourish and I will continue to play a significant leadership role in the combined companies.” Melissa Barry, Principal of Heritage, added, “The addition of PRN to the ProTransport-1 family advances our strategic goal of creating the preeminent patient logistics business in the United States. We at Heritage are enthusiastic to continue to support the ProTransport-1 team as they further their growth in new and existing markets.” About New Heritage Capital For nearly twenty-five years, Heritage has focused on partnering with growing family-owned or founder-controlled businesses. In a typical transaction, Heritage makes a significant equity investment in a company while allowing founder-managers to retain operational control and meaningful economics. Our approach provides shareholders with the desired amount of liquidity, resolves transition issues, and allows shareholders to maintain control and accelerate the growth of their company. Such transactions provide a company with capital for growth, as well as a partner deeply experienced in providing strategic guidance to growing founder-owned businesses. For more information, please visit http://www.newheritagecapital.com.

Go here to see the original:
ProTransport-1 buys PRN Ambulance