The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

Harris Williams & Co. Advises Huddle House, Inc. in its Sale to Sentinel Capital Partners

Monday, April 09, 2012

Harris Williams & Co. Advises Huddle House, Inc. in its Sale to Sentinel Capital Partners10:56 EDT Monday, April 09, 2012 MINNEAPOLIS (Business Wire) -- Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Huddle House, Inc. (Huddle House), a family dining restaurant franchisor, to Sentinel Capital Partners (Sentinel). Huddle House was a portfolio company of Ares Capital Corporation (Nasdaq:ARCC). Harris Williams & Co. acted as the exclusive advisor to Huddle House. The transaction was led by the firm's Consumer Group. “Over the last 48 years, Huddle House has built a leading brand in the U.S., known for outstanding service and great tasting food that's cooked-to-order. The company's loyal customer base and attractive franchisor model have driven recent impressive performance, following a period of relative stability through the economic downturn. We are pleased to have found a partner for the Huddle House management team that shares their vision for the future. We look forward to watching as Huddle House continues to build on its recent momentum,” said Glenn Gurtcheff, a managing director and head of Harris Williams & Co.'s Consumer Group. “Huddle House is indicative of how buyers in today's market continue to be attracted to well run restaurants, especially those with stable franchisor models. Huddle House is poised for continued growth and we are excited to watch the company in its next phase of development,” added Tim Alexander, a managing director at Harris Williams & Co. Huddle House, a full-service family restaurant chain, is well-known for serving “Any Meal. Any Time.” in communities around the country. Founded in 1964, Huddle House typically serves breakfast, lunch and dinner 24-hours a day. The Atlanta-based, 393-unit franchise is located in 20 states, primarily in the Southeast, Midwest and Southwest U.S. Sentinel specializes in buying and building lower-middle market companies in the United States and Canada in partnership with management. Sentinel targets eight industry sectors which include aerospace and defense, business services, consumer products and services, distribution, food and restaurants, franchising, healthcare products and services, and industrial manufacturing. Sentinel invests in management buyouts, purchases of family businesses, recapitalizations, corporate divestitures and going-private transactions of established businesses with EBITDA between $7 million and $35 million. Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services. Harris Williams & Co.'s Consumer Group has completed over 100 transactions across a variety of verticals including food, beverage and agribusiness; restaurants and retail; branded and private consumer products; and consumer services. For more information on our consumer experience, please contact Glenn Gurtcheff, Tim Alexander, Jeff Cleveland, Ryan Budlong or Brant Cash at +1 (612) 359-2700. Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business. For general release inquiries, please contact Kimberly Baker, marketing director, at +1 (804) 648-0072. Harris Williams & Co.Kimberly Baker, +1 804-648-0072