Eagle Merchant Partners Caps Exceptional Year With Two Exits and Add-on Acquisition
E
agle Merchant Partners (Eagle) capped another exceptional year with two exits and an add-on acquisition, highlighting the Atlanta-based private equity firm's successful strategy of focusing on founder-owned, Southeastern companies in the consumer and industrial sectors.
The two exits included the sales of Chicken Salad Chick and United PF Partners, which returned more than $260 million to its investors.
Chicken Salad Chick was sold to Brentwood Associates in November. Acquired in 2015, Eagle grew Chicken Salad Chick to 137 locations in 16 states. Chicken Salad Chick grew system sales seven-fold and added more than 100 new restaurants during the partnership.
In December, American Securities acquired United PF Partners (United PF), the largest franchisee within the Planet Fitness system, from an Eagle-led partnership with JLM Financial Partners. United PF grew to more than 1 million members across 168 locations in 14 states.
Eagle's portfolio company Recreational Group, a leading provider of residential and commercial surfacing products, acquired Swisstrax, the preeminent supplier of plastic modular tiles used as floor covering in garages, hangars and event spaces. This is the third add-on acquisition made by Recreational Group during Eagle's ownership and the firm continues to look for additional add-on acquisitions of complementary recreational flooring providers.
Eagle is led by Partners Stockton Croft and Bill Lundstrom, who have worked together for fourteen years pursuing strategic investment partnerships across the Southeastern U.S.
We are pleased to return over $260 million in sale proceeds to our investors through these two outstanding exits, said Croft. In 2020, we will continue to seek opportunities to invest with excellent management teams looking for an experienced and strategic financial partner to help grow their companies.
Eagle also announced the promotion of Brady Sumner to Vice-President.
✔️ Eagle Merchant Partners Caps Exceptional Year With Two Exits and Add-on Acquisition
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