2014 Year End Overview | M&A in Franchising
The McLean Group
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Mergers & Acquisitions in Franchising
7
The Huntington Company and CRDN Expands Franchise Network
In the fourth quarter of 2014, The Huntington Company acquired One Hour Martinizing. The
Huntington Company is the largest provider of dry cleaning services in the US. Management expects
substantial synergies through the alignment of services with existing brands, such as Bizzie and 1-800-
DryClean. Launched in 2013, Bizzie utilizes revolutionary mobile technology to provide drop-off and
delivery dry-cleaning services. The 1-800-DryClean franchise serves residential communities and
office buildings with convenient door-to-door pick-up and delivery. Martinizing is a portfolio add-on
to The Huntington Company’s platform, which includes its largest brand, CRDN, a textile restoration
company serving the insurance industry.
Sentinel Capital Acquires Newk’s Eatery
In March 2014, Sentinel Capital acquired the 67-unit franchise, Newk’s Eatery, which is an
attractive addition to its portfolio of restaurant and franchise brands. The past two years, Sentinel
has been extremely active having sold Massage Envy, acquired Huddle House, sold a large Pizza
Hut franchisee, and acquired Checker’s. Newk’s Eatery has doubled its store count to more than 70
units in two years. Newk’s Eatery plans to open more than 25 units in 2015 and a total of 200 units
by 2019. The restaurant concept is known for hand-tossed salads, oven-baked sandwiches and
California-style pizzas.
Announced
Date
Target/Issuer
Buyers/Investors
Implied
EV
12/23/2014 PODS Enterprises
Ontario Teachers’ Pension Plan
-
11/11/2014 Martinizing
The Huntington Company
-
10/16/2014 Peter Piper Pizza
CEC Entertainment, Inc.
-
10/07/2014 Pressed 4 Time
The Huntington Company
-
9/29/2014
Einstein Noah Restaurant Group
JAB Holding Company
-
9/17/2014
The Cleaning Authority
PNCRiverarch Capital
-
9/4/2014
Lube Stop
Argonne Capital
-
8/21/2014
Hot Dog on a Stick
Levine Leichtman Capital Partners
-
8/18/2014
Dwyer Group
The Riverside Company
-
7/28/2014
Mister Car Wash
Leonard Green Partners
$380
7/17/2014
Fastsigns
Levine Leichtman Capital Partners
-
5/28/2014
Flynn Restaurant Group
Teachers’ Private Capital
-
5/20/2014
TGI Fridays
Sentinel Capital Partners
-
5/15/2014
Red Lobster
Golden Gate Capital
$2,113
5/5/2014
Learning Care Group Inc.
American Securities
-
4/24/2014
On The Border
Fortress Investment Group / Argonne
Capital Group
-
3/25/2014
Newk's Franchise
Sentinel Capital Partners
-
2/27/2014
Anytime Fitness
Roark Capital Group
-
1/31/2014
Don Pablo's
Food Management Partners
-
1/24/2014
Checkers
Sentinel Capital Partners
-
1/16/2014
CEC Entertainment
Apollo Management
$1,309
1/9/2014
Snap Fitness
TZP Group
-
1/9/2014
PJ United (Papa John's Franchise)
TPG Growth
-
Source: CapitalIQ
