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Sun Capital exits seafood chain Captain D’s to Centre Partners

15 Oct 2013

captain dPrivate equity firm Sun Capital Partners has exited its investment in Captain D’s Seafood Restaurant, which has been sold to mid-market firm Centre Partners.

The Nashville-based company operates and franchises 527 restaurants in 25 states and on military bases around the world. It has recently started to expand its franchise locations.

During Sun Capital’s ownership, Captain D’s saw 27 consecutive periods of comparable sales growth.

Sun Capital co-CEO Marc Leder said, “We are extremely proud of the transformation and revitalization of Captain D’s.

“We’re confident that the combination of operational improvements and customer-focused solutions that have been achieved over the past three years will enable the business to continue to build on its strong market position.”

Sun bought Captain D’s from Charlesbank Capital Partners for an undisclosed amount in May 2010.

Earlier this year it was reported that Sun hired North Point Advisors to manage the sale process.

The firm has currently raised just over half of its $3bn for its latest fund, despite hoping to close the vehicle before the end of last year.

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