Roark Capital Group has closed its third private equity fund, Roark Capital Partners III L.P., with $1.5 billion in commitments. The private equity firm is based in Atlanta. Roark’s prior fund, Roark Capital Partners II L.P., closed in 2008 with $1 billion.
Roark Capital Group, an Atlanta-based private equity investment firm, today announced the closing of its third private equity fund, Roark Capital Partners III LP (“RCP III”), with capital commitments of $1.5 billion.
RCP III included strong support from existing Roark investors and a number of new investors, including leading endowments and foundations, public and corporate pension funds, sovereign wealth funds and family offices.
Roark’s prior fund, Roark Capital Partners II LP, is a $1 billion partnership that commenced in 2008. With the closing of RCP III, Roark now has approximately $3 billion in equity capital under management.
“We are thankful for the continued support from our existing investors and are pleased to welcome a number of new institutions and families to our partnership,” said Neal Aronson, Roark’s Managing Partner.
RCP III will continue Roark’s strategy of acquiring companies in the franchise/multi-unit, brand management, consumer products and services, environmental services and business services industries.
In its history, Roark has acquired 22 franchise/multi-unit brands which collectively have more than 4,100 franchisees, 11,000 locations and $10 billion in system-wide revenues across 50 states and 56 countries.
Roark’s current portfolio of brands includes Arby’s, Atkins, Auntie Anne’s, Batteries Plus, Bosley’s Pet Food, Carvel Ice Cream, Cinnabon, Corner Bakery, FASTSIGNS, FOCUS Brands, Home Service Store, Il Fornaio, Massage Envy, McAlister’s Deli, Moe’s Southwest Grill, Money Mailer, Pet Valu, Primrose Schools, Schlotzsky’s and Wingstop. In addition, Roark has acquired over 25 environmental services businesses through its three platform companies GFL Environmental, Qualawash and Waste Pro.
Lazard Freres acted as exclusive placement agent for the fund.
About Roark Capital Group
Roark Capital Group is an Atlanta-based private equity firm that specializes in franchise/multi-unit, brand management, consumer products and services, environmental services and business services companies with attractive growth prospects. Its brands have over 11,000 locations and $10 billion in system-wide revenues across 50 states and 56 countries. Roark focuses on middle-market investment opportunities through family-owned business transfers, management and corporate buyouts, recapitalizations, going-private transactions and corporate divestitures. The firm has approximately $3 billion of equity capital under management. For more information, visit www.roarkcapital.com .