Sale to Levine Leichtman Capital Partners
Baird served as the exclusive financial advisor to Tropical Smoothie Cafe on this transaction
AboutTropical 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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- September 2020
- Tropical Smoothie Cafe
- Target Location
- North America
- Acquiror Location
- North America