Charlotte, North Carolina-based Whistle Express will acquire Take 5 Car Wash from Driven Brands. Once the deal closes, Whistle Express will operate 530 units in 23 states. Driven Brands is the parent company of several automotive service franchises including Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C, Auto Glass Now and Carstar. Driven Brands has more than 5,000 locations in 13 countries.
A subsidiary of Restaurant Bands International acquired TFI Asia Holdings BV and Pangaea Two Acquisition Holdings XXIII’s equity interests in Burger King China for approximately $158 million in an all-cash transaction. RBI owns nearly 100 percent of the business and will identify a new local partner to inject primary capital into the business and become the controlling shareholder. RBI owns Tim Hortons, Burger King, Popeyes and Firehouse Subs.
Purchase Capital invested in Jetset Pilates. Terms of the deal were not disclosed. Nicholas Singer, the founder and managing partner of Purchase Capital, was appointed to the Jetset board. Founded in 2010 by Tamara Galinsky and franchising since 2022, Jetset Pilates has about 60 locations in the United States and Australia.
Ampler Burgers acquired 10 Burger Kings in Tennessee. The locations are in Johnson City, Kingsport Gray, Jonesborough, Blountville and Rogersville and expand the group’s Burger King footprint to 15 states. Ampler’s portfolio of 475 restaurants includes Taco Bell, Little Caesars and Church’s Texas Chicken. Unbridled Capital provided sell-side advisory services to Vanmar and Aaron Enterprises on the transaction.
Maverick Partnership and MP Playa Bowl acquired 10 Playa Bowl restaurants in Pennsylvania from Bowls of Steel.
Hut American Group, a subsidiary of Flynn Group, acquired 45 Pizza Huts in Georgia, Alabama and Tennessee from GPS Hospitality Huts. Unbridled Capital provided the sell-side advisory for the transaction.
Private equity firm Lion Capital merged celebrity chef Gordon Ramsey’s North America and international operations into a single holding company based in London. Lion Capital initially backed Ramsay’s North American expansion in 2019, committing $100 million to fuel new restaurant openings across the U.S. and Canada. Ramsey’s restaurant brand, Gordon Ramsey Restaurants, offers franchising opportunities for some of its brands.
New York-based Pacific General acquired a majority stake in sandwich brand Lenwich, which is looking to expand beyond its home market in New York City. Lenwich founder Lenny Chu retained a significant equity interest in the company and will continue to lead the brand as CEO. Lenwich operates 14 company-owned locations across the city. Pacific General was an early majority investor in Playa Bowls, which it sold last year to Sycamore Partners. Cravath, Swaine & Moore served as legal counsel to Pacific General. Pryor Cashman acted as legal counsel to Lenwich. RSM provided financial and tax due diligence in connection with the transaction.
Milford, Connecticut-based Maheshwara acquired the Quality Inn Lake City, Florida, location from Lake City-based Aksar Motel for an undisclosed price. Tampa-based DSH Hotel Advisors secured the deal with 11 offers from buyers nationwide.
Jon and Tim Larsen bought Spherion Staffing and Recruiting’s locations in Layton, Ogden, Orem, Salt Lake City and Taylorsville, Utah. They succeed Ron Zarbock, who remains a Spherion franchisee in Boise, Idaho.
Frank and Melissa Hiti bought Westendorf Printing, a second-generation printing shop in Dayton, Ohio, and converted it to a Minuteman Press location. The Hitis also own a Minuteman Press in Lebanon, Ohio. In another Minuteman Press conversion, Tyler Griffith bought Graphics 3, a second-generation printing business in Coldwater, Michigan.
