Mr. Mikes Restaurants Corp., a casual steakhouse franchisor in Western Canada, has raised an undisclosed amount of private equity funding from Yellow Point Equity Partners.
Yellow Point Equity Partners II LP (“Yellow Point”) is pleased to announce the closing of its investment in Mr. Mikes Restaurants Corporation (“Mr. Mikes” or the “Company”), one of Western Canada’s largest full-service food franchisors. With a fun atmosphere, a menu focused on steaks and mid-scale price-points, Mr Mikes offers an affordable indulgence for its customers.
“Mr. Mikes is a strong brand that has been built on the foundation of quality products and superior service” said Brian Begert, Managing Partner of Yellow Point. “We are excited about Mr. Mikes growth potential and believe that the strategic vision and operating experience that the management team brings to Mr. Mikes will be invaluable as the Company moves forward with the mission of continued growth.”
“I am proud of the many successes the Mr. Mikes’ team has achieved over the last four years, and convinced that this new strategic partnership with Yellow Point can propel Mr. Mikes to even greater heights,” said Yuri Fulmer, CEO and co-owner of the Company. “Its great to have partners like Yellow Point who have roots in western Canada and can assist us in growing the brand.”
Mr. Mikes, acquired by Yuri Fulmer in 2005, currently serves customers at 18 locations in British Columbia and Alberta. Fueled by a market-expansion program, an aggressive marketing campaign and updated stores, Mr. Mikes has added several new franchise partners and substantially increased revenue over the past few years.
About Yellow Point
Yellow Point Equity Partners is a private equity investment firm with significant operating and investment experience. It invests in outstanding management teams of private companies based primarily in western Canada and aims to be the long-term partner of choice for management teams of Canada’s leading private companies.
For more information, please contact Brian Begert or David Chapman, or visit our website at www.ypoint.ca