KarpReilly Nears Sale of Miller’s Ale House to Roark

Roark Capital Group is near a deal to buy Miller’s Ale House, sources tell peHUB.

KarpReilly put Miller’s Ale House up for sale late last year, peHUB reported in October. North Point Advisors was tapped to run the process.

Miller’s Ale House generates about $30 million EBITDA. Roark is paying 8.5x for Miller’s, one banker says. Another source says the purchase price is $315 million.

Jupiter, Fla.-based Miller’s Ale house, a casual dining chain, has 57 restaurants spread through eight states. The chain offers chicken wings, soup and salads, as well as burgers. Miller’s also serves various beer and ales, including Rogue Dead Guy and Sea Dog Blue Paw.

Officials for Roark, KarpReilly and North Point did not return calls or messages requesting comment.

Miller’s Ale House is the latest restaurant deal in the PE space. Last month, Sun Capital Partners acquired Johnny Rockets, a burger chain that was owned by RedZone Capital. The advisor on Johnny Rockets was also North Point.

–Olivia Oran contributed to this report

Photo courtesy of Miller’s Ale House.