Sun Capital completes sale of Captain D’s to Centre Partners

Sun Capital Partners said Tuesday that it has closed its sale of Captain D’s Seafood Restaurant to Centre Partners. No financial terms were disclosed. Headquartered in Nashville, Captain D’s is a fish restaurant chain.


BOCA RATON, FL – December 3, 2013 – Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that an affiliate has completed the sale of Captain D’s Seafood Restaurant (“Captain D’s” or the “Company”), a leading seafood quick service restaurant. The business has been acquired by Centre Partners, and terms of the private transaction were not disclosed.
Headquartered in Nashville, Tennessee, Captain D’s is the highest average unit volume seafood quick service restaurant chain in the U.S., and owns, operates and franchises 521 restaurants in 26 states and on military bases around the world. Captain D’s restaurants serve a wide variety of fish and seafood, including freshly prepared entrees, and the company’s signature hand-battered fish fillets, which are prepared to order.
“This successful sale marks the culmination of a dramatic transformation and revitalization of Captain D’s,” said Marc Leder, Co-CEO at Sun Capital. “The combination of operational improvements and customer-focused solutions will enable the business to continue to build on its strong market position.”
Following the acquisition by the Sun Capital affiliate, the management team was strengthened and several important improvements to business operations were quickly executed, resulting in 28 consecutive periods of system-wide comparable store sales growth. Sun Capital also worked closely with management in its efforts to transform the customer experience through a new restaurant design and a revamped menu, improved food quality, and increased the value customers receive for their money. In addition, Captain D’s implemented new financial controls, a robust procurement process, and better labor management.
Sun Capital has strong experience in the restaurant sector, and its current affiliated restaurant portfolio companies include Boston Market, a fast casual restaurant serving quality, home style meals in more than 460 nationwide locations; Friendly’s Ice Cream LLC, a vertically-integrated restaurant company serving signature sandwiches, entrees, and ice cream desserts in a friendly family environment; Smokey Bones Barbeque & Grill, a full-service bar and fire-grill restaurant that operates 65 locations in 17 states; Bar Louie Restaurants, a neighborhood bar and eatery with more than 70 locations across the U.S.; and Fazoli’s, a premium quick-service Italian restaurant.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a pioneer in private equity investing, uniquely combining the financial skills and resources of a traditional private equity firm with the insight and expertise of a world class operating team. The firm focuses on market-leading companies that can benefit from our in-house professionals, resources, and expertise in their efforts to materially improve operating performance. Sun Capital affiliates have invested in more than 330 companies worldwide with combined sales in excess of $45 billion since our inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates in London, Frankfurt, Paris, Luxembourg, Shanghai and Shenzhen. For more information, visit