Sale to Levine Leichtman Capital Partners

Consumer
Sale to Levine Leichtman Capital Partners

Summary

Baird served as the exclusive financial advisor to Tropical Smoothie Cafe on this transaction

About

Tropical Smoothie Cafe (“Tropical Smoothie” or the “Company”), a portfolio company of BIP Capital, has been acquired by Levine Leichtman Capital Partners (“LLCP”). The terms of the transaction were not disclosed.

Tropical Smoothie is a leading franchisor of fast-casual cafés with over 870 units across 44 states. The Company inspires a healthier lifestyle by serving better-for-you smoothies, wraps, sandwiches and flatbreads across multiple dayparts and order modes. Tropical Smoothie was founded in 1997 and is headquartered in Atlanta, Georgia.

BIP Capital is a middle market private equity firm focused on making growth and early stage investments in entrepreneur-led businesses across the consumer, healthcare and technology sectors. The principals of BIP Capital also focus on investing in high-growth, differentiated franchise concepts out of 10 Point Capital. BIP Capital and 10 Point Capital are both located in Atlanta, Georgia.

LLCP is a middle-market private equity firm with a 37-year track record of successfully investing across various targeted sectors, including franchising, professional services, education and engineered products. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. Since inception, LLCP has managed approximately $11 billion of institutional capital across 14 investment funds and has invested in over 85 portfolio companies. LLCP currently manages approximately $7 billion of assets – including its most recent flagship fund, Levine Leichtman Capital Partners VI, L.P., which closed in 2018 with $2.5 billion of committed capital – and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm and The Hague.
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Consumer
Sale to Levine Leichtman Capital Partners
Date
September 2020
Company
Tropical Smoothie Cafe
Transaction
M&A
Sectors
Consumer
Target Location
North America
Acquiror Location
North America

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