Global private equity and venture capital news and research

Sun Capital receives fundraising boost with 8x Captain D’s exit multiple

4 Dec 2013

Captain D's seafoodSun Capital Partners is reportedly set to make eight-times its initial investment by exiting Captain D’s Seafood Restaurant to mid-market firm Centre Partners.

The firm closed the deal yesterday according to peHUB, which cited a source familiar with the transaction as saying the sale was expected to generate a 100 per cent IRR.

A return of that magnitude will prove a massive fillip to the firm, which had only raised just over half of its $3bn target for its latest fund in mid-October, despite hoping to close the vehicle before the end of last year.

AltAssets reported around the same time that Sun had agreed to sell Nashville-based company Captain D’s, which operates and franchises 527 restaurants in 25 states and on military bases around the world.

Sun bought the business 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.

Copyright © 2013 AltAssets

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: WeWork 4001, 1 Fore Street, London, EC2Y 5EJ
Content is © AltAssets 2000-2016