sentinel capital partners
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fazoli’s is owned by sentinel capital partners, which acquired the chain in july 2015 from sun capital partners .
tamarac, fla. — sonny’s partners with sentinel capital to expand products and services .
sentinel capital partners | $ 1. 3 billion fund | middle market | private equity
sentinel capital partners and triartisan capital partners bought tgi fridays in 2014 for an estimated $ 800m, hoping to turn around the group hit by an industry slowdown .
david lobel, sentinel capital’s founder and managing partner, is a meticulous man .
private equity firm sentinel capital partners has acquired cabi, a direct seller of women’s apparel in the us, canada and the uk .
the parent to the 67 - unit fast - casual newk’s eatery chain has been acquired by private - equity firm sentinel capital partners, officials said tuesday .
francisco partners takes verifone private; tenneco buys federal - mogul from carl icahn; sentinel backs ubeo .
past the receptionist (ahem, the director of first impressions as is her official title), it’s an enviable view from the 27th floor conference room of sentinel capital partners in manhattan .
nationwide, playcore has about 1, 800 workers and more than $ 400 million in annual sales. new york city - based sentinel capital partners, a private equity firm, bought playcore in 2014 .
tamarac, fla. — sonny’s enterprises inc. recently announced a partnership with sentinel capital partners in a move to expand the scope of products and services it provides to its clients, according to a company press release .
varde partners, barclays and guber banca acquire eur1. 4bn non - performing loan portfolio
we have organized news highlights about sentinel capital partners and our private equity portfolio companies into three categories: by date, which includes all news items starting with the most recent events. portfolio news, which focuses on investments we have made since sentinel' s inception and on matters relating to our portfolio companies. sentinel news, which highlights internal developments in our firm .
brynwood partners, blue wolf, morgan stanley and saw mill also raised private equity funds .
first, there’s the numbers. generally speaking, private equity investors like sentinel will take cash flow over revenue—something the franchising world does especially well. a key metric to determine how well is “return on net tangible capital. ”
“we like companies that are high free cash flow. we don’t like very capital - intensive businesses. one of the reasons we like franchising is because it’s not capital intensive, it’s a very asset - light business, ” said lobel. “so you take a look at the ebitda minus the capex and divide it by the net tangible capital utilized in the business. if that number is at least 40 percent, we get interested, and if it’s not, our interest wanes. ” (that’s gross earnings and capital expenditures in finance speak. )
apollo buys qdoba; campbell soup acquires snyder' s lance; sentinel backs captain d' s .
sentinel acquired captain d' s and sold checkers. l catterton and roark have also been active in the restaurant sector .
private equity firms, such as gtcr and thoma bravo, remain aggressive in seeking mid - market deals. others including consumer - focused brynwood partners are raising new funds to deploy into their concenrated sectors .
dealmakers share their perspectives on the evolution of private equity. harris williams' giles tucker, watermill group' s julia karol, and kainos capital' s jay desai are among those who chimed in .
education: harvard university (mba); george washington university (jd); university of illinois (bs) prior experience: j. h. whitney & co. ; first century partners; smith barney
as every investment is different, the needs of investment companies are also different. newk’s, for instance, was one of those big small businesses that was well run, but needed capital to build runway for growth .
similarly, during a 33 - month investment in massage envy, sentinel oversaw the opening of 2, 015 locations in another growth - focused push. and when sentinel took a majority stake in tgi fridays, a major part of the investment thesis was refranchising corporate locations, which accounted for 40 percent of the restaurants .
since founding sentinel in 1995, lobel and his team have watchfully grown a number of investments in the middle market, creating infrastructure and building them up for a good return .
if an investment passes muster, it’s right to work on the investment thesis. lobel said once the management teams and sentinel agree on a path forward, they move quickly .
fazoli’s was a different animal; a former private equity firm had already “effectuated the turnaround” of the once - troubled brand. so sentinel is focused on growth and building a few company stores .
before his interview, sentinel’s founder and managing partner david lobel explains the careful destruction of a neighboring building. he said he’s watched workmen slowly demolish a building, floor - by - floor, for months .
that same careful planning and methodical execution is plain to see across sentinel’s franchise investments. brick - by - brick the firm has constructed and renovated across the industry, as seen in the accompanying chart—that’s a lot of bricks .
sentinel has touched many franchise systems on both the franchisor and franchisee side, including massage envy, tony roma’s, fazoli’s, yum brands, checker’s, church’s chicken, newk’s, and it currently has a majority stake in tgi fridays .
: before the closing, management and sentinel developed a detailed plan to quickly and seamlessly transition to a standalone business. together, we recruited a talented cfo and promoted a highly experienced manager from the u. k. as head of european operations. we also developed and introduced the new global
iep technologies
brand. in addition, sentinel recruited a chief transition officer to help manage iep' s relocation to new facilities in the u. s. , germany, and the u. k. while iep' s management team implemented a new global it system .
following a successful transition to a standalone business, and having significantly increased both revenue and profitability, iep was sold in september 2015 to hoerbiger group, a leading european provider of compression technology, drive technology, and hydraulics, in a highly successful transaction for both sentinel and iep' s management team .
breaking up the locations into regional pods, they sold the pods to mostly existing multi - unit operators. first, sentinel took the lead, teaching executives how to make the large transactions required in the plan, then turned over the refranchising to tgi fridays. with that tactic, the company went from about 400 corporate locations to just 55 .
sentinel targets lower midmarket private equity investments in eight industry sectors: aerospace / defense, business services, consumer, distribution, food / restaurants, franchising, healthcare, and industrials. we are interested in working with outstanding executives and helping them build successful businesses. when entrepreneurs and company executives consider a private equity firm, we believe their decision should be based on :
it’s been a rarity at sentinel, but as franchisees took advantage of a refranchising at tgi fridays, so too did lobel when he got into the pizza hut system in 2008 with a 123 - store purchase from yum brands and a seasoned operator at the helm. the business grew through acquisitions to 224 restaurants before ultimately being sold to another private equity firm in 2012 .
headquartered in chicago, illinois, colson group is the market leader in the design, manufacture, and distribution of casters, wheels, and related hardware products. colson maintains the premier position worldwide in caster technology. colson’s products comprise a wide range of casters and wheels, including light duty, medium duty, heavy duty and super heavy duty used in industrial, commercial and institutional applications. colson’s manufacturing and distribution infrastructure is the broadest in the industry, with 35 facilities located in 15 countries. colson’s branded product portfolio is recognized as the highest quality in the market, which is critical for end users for whom the cost of failure is high. sentinel acquired colson from pritzker family trusts. jay and bob pritzker orignially acquired colson in 1953. under the pritzkers, colson became the worldwide leader in caster technology and today offers its customers the most complete line of industrial casters. through its shepherd hardware subsidiary, colson also offers cutting edge mobility solutions for the retail consumer market .
in this 2010 file photo, zackrey duncan peeks at sydney adams atop a playground tunnel built by the chattanooga - based playcore company .
this story was corrected to note that this was the fourth acquisition in as many months .
staff photo by dan henry / the chattanooga times free press - 6 / 21 / 15. construction continues at the imagination station in collegedale, tennessee. the playground has won playcore' s inclusion national demonstration award so that children with disabilities can use the facility as well .
after acquiring four other play and recreation equipment businesses in 2016, playcore holdings inc. started 2017 with yet another business buyout on monday .
the chattanooga - based playcore has bought worlds of wow, a denton, tex. - based designer and developer of indoor, themed - play environments .
worlds of wow was started 12 years ago by reagan hillier, who agreed to merge his business with playcore holdings this month. worlds of wow has grown to a 40 - employee company that produces play stages, equipment and designs in a 20, 000 - square - foot facility in denton, texas .
under the ownership of playcore, worlds of wow will continue to operate as its own business, developing projects for churches, malls, family entertainment centers, offices and recreational centers .
we' re excited about this next step for the company ,
hillier said monday after completing the sale of the business .
playcore is an amazing group of growth - oriented companies and we are looking forward to being a part of their business dynamic .
terms of playcore' s latest purchase were not announced. but it is similar to nearly a dozen other acquisitions playcore has made over the past couple of decades of other playground, sporting goods or recreational equipment makers and distributors .
we are excited about this latest addition to our play division ,
playcore ceo roger posacki said in a statement .
our company' s heritage was built on play, and the acquisition of worlds of wow allows us to expand our service in the indoor environment, while greatly enhancing our overall portfolio .
last year, playcore bought online distributor byo recreation in st. augustine, fla. , musical instrument maker freenotes harmony park in durango, colo. ; open - shades producer porter corp. , in holland, mich. ; and knorr systems, which offers a wide range of aquatic equipment and services from its facility in santa anna, calif .
certainly, acquisitions remain a key part of our growth strategy ,
said richard ruegger, senior vice president and chef financial officer for playcore .
these purchases have helped to expand our distribution in some markets where we haven' t had a lot of presence and its also gives us some custom - themed capabilities that will be a nice add - on to the existing playground businesses that we have .
playcore, which was founded in 1979, has grown to a holding company with 20 brands that encompass several categories of recreation, including play, aquatics, site furnishings, indoor and outdoor fitness, and spectator seating .
to house the 125 workers the company employs at its chattanooga headquarters, playcore is preparing to move into its own headquarters building, now used as the headquarters for fsg bank at 531 broad st. fsg sold the bank building last year for nearly $ 5. 4 million to harbert realty of birmingham, ala. , which will lease the structure to playcore, which plans to move into the building by this summer .
contact dave flessner at dflessner @ urltoken or at 423 - 757 - 6340 .
this story was updated jan. 30 at 11: 30 p. m. with more information .
washing cars since 1949, the release continued, sonny’s will continue to be managed by the same family which has run the business since its inception, led by ceo paul fazio .
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the woman behind the success of taco bell’s doritos shell is taking her mastery in mind - blowing flavour combinations to the tgi fridays restaurant chain .
stephanie perdue, taco bell’s former chief product marketing officer, had led the team that designed doritos locos tacos, which helped refresh the brand as a late - night must for teenagers and adults alike .
since 2014, taco bell has sold more than 1bn of these tacos, whose shells are made from doritos chips dusted with the iconic nacho cheese favor. now tgif will be hoping to steal some of the magic .
“tgi fridays has a long history of creating firsts in the industry and i look forward to continuing that tradition by breaking the status quo, ” ms perdue said in a statement. “i am thrilled to help write the next chapter for fridays as we reimagine the brand for both team members and guests. ”
“casual dining, including fridays, needs to be more imaginative and differentiated, especially around product innovation, ” added tgi fridays chairman and ceo john antioco. “fridays is determined to distinguish itself from the category…”
while the broader food and beverage industry has ramped up efforts to appeal to increasingly health - conscious consumers, ms perdue’s approach has stood in stark contrast, opting instead for fun and innovative ideas. she also led the introduction of taco bell’s breakfast menu, which now competes with mcdonald’s .
what’s next for tgi friday’s then? let’s hope it’s a skittles chicken breast or coke - soaked salad .
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fazoli’s, the fast - casual italian chain, has named david hasler as chief financial officer, the company said monday .
hasler most recently served as senior director of global treasury for walmart. he succeeds rodney lee, who left lexington, ky. - based fazoli’s last summer to become cfo at the krystal co .
fazoli’s said hasler will oversee the company’s accounting, financial planning and analysis, information technology, payroll and legal services departments .
in addition to hasler’s hiring, the company announced other changes to its finance department .
tracy haskins, a 20 - year company veteran, has been promoted to vice president of finance and treasury, and spencer houlihan has rejoined fazoli' s in the new position of vice president for financial planning and analysis. houlihan returned to the company, where he first began work in 2008, after a year with university of kentucky healthcare .
the fazoli' s brand is very fortunate to be starting off the year with such an impressive team guiding our finance department ,
said carl howard, fazoli’s president and ceo, in a statement .
tracy and spencer are company veterans who have played an integral part in our success, while david brings a wealth of financial experience and expertise to the cfo role, ” howard said .
the character of the private equity firm' s professionals and their record of delivering what they promise .
the firm' s ability to understand key business drivers and quickly respond to change .
professional and career growth opportunities available to entrepreneurs through partnering with the private equity firm .
a roll - up - your - sleeves approach to helping management achieve goals .
headquartered in toronto, canada, altima dental centres is one of the largest dental services organizations in canada, with a clinic network that includes offices across six provinces. altima - affiliated practices have an excellent reputation for providing high - quality dental services and always putting patients first. altima is well known throughout the canadian market for second - to - none care, top notch providers and staff, and a broad suite of convenient services. altima dental offers patients high quality dentistry services at competitive prices in friendly, well - appointed dental clinics. altima' s strategy is to continue to grow by adding affiliated dental offices throughout canada .
corporate visions is a leading provider of training products and services to improve sales force productivity. based in larkspur, california, corporate visions is a thought leader and innovator in the marketing and sales enablement industry. corporate visions develops and applies research from decision sciences to help its fortune 1000 global b2b clients win more business and increase profitability. its blue - chip clients include adp, cisco, motorola, ups, and dupont .
founded in 1953 and headquartered in boca raton, florida, hollander is a leader in the north american basic bedding segment producing bed pillows, mattress pads, comforters, foam products, and related sleep accessories. hollander markets its products under a portfolio of highly recognizable proprietary, licensed, and retail partner brands including ralph lauren®, simmons®, beautyrest®, laura ashley®, nautica®, waverly®, and live comfortably®. hollander operates nine facilities across north america and employs more than 1, 600 people worldwide. hollander sells its products to departments stores, big box retailers, independent stores, and through catalog and internet retailers .
marketplace events, headquartered in solon, ohio, organizes and operates consumer shows targeting the home improvement and enthusiast market including remodeling, home decor, and gardening. marketplace has the largest portfolio of home and garden shows across the u. s. and canada. leveraging scale, technology, and predictability, marketplace events brings together 14, 000 exhibitors, 1. 5 million consumers, and 1. 5 million unique web visitors on an annual basis. marketplace events creates vibrant expositions connecting enthusiasts with experts, products, and services in dynamic face - to - face environments. marketplace events produces some of the most successful and longest - running shows in north america, including market - leading home shows in montreal, vancouver, calgary, minneapolis, philadelphia, and washington, d. c. – several of which have thrived in their markets for more than 75 years. marketplace events is the clear leader in the north american home and garden show industry .
newk' s eatery, headquartered in jackson, mississipi, is a franchisor and operator of fast casual restaurants. newk' s is a rapidly growing market leader in the fast casual restaurant segment throughout the southeast and is well positioned to accelerate its growth in the rapidly expanding fast casual segment of the restaurant industry. newk' s began in 2004 as a sandwich shop in oxford, mississippi and has grown into one of the fastest growing franchisors of fast casual restaurants. newk' s offers a diverse menu of high quality, made - from - scratch sandwiches, soups, salads, and pizzas .
headquartered in houston, texas, revenew international provides cost recovery and cost containment services that deliver monetary recoveries and cost reduction benefits. revenew serves a blue - chip fortune 500 customer base, with particular expertise in the energy, utilities, and manufacturing sectors, through two core services lines: contract compliance and supplier payment review. revenew' s comprehensive suite of cost recovery solutions presents unique and highly compelling opportunities for clients to identify incorrect payments and recover overbilled amounts. revenew' s services enable its clients to seek recovery from their service providers through the identification of incorrect payments and overbilled amounts. revenew' s programs ensure compliance with commercial terms, recover lost monies and provide best practice recommendations for contractual and operational improvements .
sonny' s enterprises, inc. is the leading worldwide manufacturer of conveyorized car wash systems. sonny' s is headquartered in tamarac, florida, where it designs and manufactures car wash systems. with strong development and design capabilities and a long - term record of innovation and excellent customer satisfaction, sonny' s has become the premier global provider of car care products to car wash professionals. sonny' s offers a broad range of car wash products and services and has established longstanding sales relationships and distribution channels throughout north america .
total military management is the leading global provider of relocation services for u. s. military and government personnel. based in jacksonville, florida, tmm is a technology - enabled, asset - light provider of logistical, administrative, sales and marketing services to a network of transportation service providers. tmm targets the fragmented $ 2. 5 billion u. s. military moving and storage industry, which is comprised of approximately 300, 000 annual relocations of the 1. 3 million active duty u. s. military members and their families. tmm utilizes its sophisticated technology systems, operating infrastructure, and global network of service providers to manage the resource - intensive and administratively complex logistical tasks associated with military relocations .
company description iep technologies is the leading global provider of explosion protection systems and services, with operations in the u. s. , germany, switzerland, france, turkey, and the u. k. iep offers the industry' s leading array of industrial explosion systems, design engineering, replacement parts, material testing, and service and support to its global customers around the world. background at the time of our purchase, iep consisted of three legacy brands, fenwal, kidde, and incom, which have been sold in the u. s. and europe since the 1950s. these legacy brands comprised five separate businesses that were owned by united technologies corp. (
utc
), but were not integrated into one, unified company. utc decided to divest iep because it was a non - core asset. key iep functions including operations, finance, it, insurance, and benefits were handled centrally by utc, leaving iep unable to operate as a standalone business. to function independently, iep needed to :
relocate out of utc facilities in the u. s. , germany, and the u. k .
in addition, as part of the transaction, utc planned to retain the fenwal and kidde brands, which necessitated the creation of a new, unified global brand. importantly, all of this needed to be accomplished without causing any disruption to iep and its global customer base .
within nine months of the closing, iep had completed this transition with almost no disruption to its business .
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too get good employee' s that will work! is too pay them more than 13. 00 per hour good employee' s will work there till something better come' s a long then they will leave to go some where else where they can make more money i mean if they can pay a lead person 16. 00 per hour why can' t they pay a employee that works 15 / per hour don' t make since to me and the over time is some depts. is because of the employee' s that' s not doing what they should be doing 5 days a week and also could be supervisor / lead person robbing peter to pay paul you know the old saying you can’t keep doing the same things and expect to get different results. that is, by definition, insane they are a some smart people that work there that are never giving the chance to move up! !! why? buddy system i think! !! you have supervisors and lead person that don' t even know how to run the machine' s? them self so how do they expect to lead someone else kind of like blind leading the blind just don' t understand maybe its not meant for me to understand but this is my review in good faith
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the methodical, precise nature of the work seems to speak to him, maybe delight him. the meticulous approach is his approach .
“when you focus on the lower end of the middle market, many of these companies are big small businesses and what we’re really trying to do is make them small big businesses—all the resources of a big company but they just happen to be small so that we grow into it, ” said lobel. “we find that many lower middle market companies need more foundation, infrastructure before they can actually run fast, so that’s one of the things we do. one of our investment strategies is to put that in place so they can run. ”
every investment thesis is a little different, but lobel said there are a few things he looks for right away in a prospective acquisition target .
then, unlike the many small private equity firms grabbing up small brands across industries, lobel said he seeks the advantage, sustainability and defensibility of category leaders .
“we like companies that are leaders in what they do. because we’re in the lower end of the middle market, we’re dealing with relatively small businesses. when guys come to us and say, ‘we’re tackling a gigantic market and we have 3 percent market share and we can grow forever, ’ it’s not that interesting to us because it means there are big players out there and they’re swimming with sharks, ” said lobel. “we like to be the big boy in the market. ”
before jumping on an investment, lobel said vetting the management team is also critical. a good businessperson may not thrive under a private equity arrangement, especially if they’re looking for work - life balance .
“the private equity model is basically to empower executives, give them a lot of autonomy but in exchange for that, a lot of accountability, ” said lobel. “we want entrepreneurial - minded, equity - oriented executives that are really trying in their own way to establish personal wealth by taking a risk—not having a cushy job with lifetime employment and a nice retirement package. ”
“we’re trying to accomplish something significant inside the space of five years, and it goes pretty quickly. believe me five years goes very, very fast, ” said lobel .
“new senior executives had to be hired, new systems and controls needed to be put in place, new computer infrastructure, new it infrastructure. we saw that going into the deal and we knew that unless those things were done, the company would not be able to grow rapidly and keep control, ” said lobel. “that became part of our investment thesis: grow deliberately in the first 18 months, not supersonically, while at the same time retrofit the business with infrastructure to support aggressive growth in chapter two. ”
a big part of the tgi fridays refranchising thesis was something lobel learned from three investments on the franchisee side of a company. “one of the truths in franchising, it’s almost axiomatic, is that franchisees operate their units better than the franchisor operates them itself, ” said lobel.
sentinel capital partners , l.l.c. is an american privately held investment firm focusing on mezzanine capital , management buyouts , corporate divestitures , industry consolidations , going-private transactions , leveraged buyouts , and growth capital transactions in the united states and canada . the company is headquartered in new york , new york . 
sentinel capital partners, l.l.c. is an american privately held investment firm focusing on mezzanine capital, management buyouts, corporate divestitures, industry consolidations, going-private transactions, leveraged buyouts, and growth capital transactions in the united states and canada. the company is headquartered in new york, new york.
sentinel capital partners, l.l.c. is an american privately held investment firm focusing on mezzanine capital, management buyouts, corporate divestitures, industry consolidations, going-private transactions, leveraged buyouts, and growth capital transactions in the united states and canada. the company is headquartered in new york, new york.