|
|
New
York, NY – March 2023 / Newsmaker Alert: Garnett
Station Partners, LLC (“Garnett Station”) a New York-based principal
investment firm that manages ~$2 billion of assets, announces that it has
acquired and recapitalized Firebirds
Wood Fired Grill (“Firebirds” or the “Company”), a leading polished-casual
dining chain. Financial terms were not disclosed.
Founded in 2000 in Charlotte,
North Carolina, Firebirds has grown to 56 locations across 20 states, offering
guests a unique dining experience and bold menu offerings featuring its
signature wood-burning grill and award-winning FIREBAR®. Firebirds
has a long history of outperformance with both industry leading same store
sales and average unit volumes. Supported by Garnett Station’s strategic
capital, Firebirds will continue to accelerate growth and development.
“Firebirds has found tremendous
success over the past 20 years through the power of its concept, the passion
of its team and the loyalty of its guests, contributing to its consistent
industry outperformance from both an average unit volume and same store
traffic perspective,” said Matt
Perelman, Co-Founder and Managing Partner at Garnett Station. “We look
forward to working closely with Steve and the entire management team to
support and accelerate the brand’s long-term growth.”
“We are incredibly proud
of the brand that Firebirds is today and are thrilled to work in partnership
with Garnett Station as we enter this next chapter,” said Steve
Kislow, Chief Executive Officer of Firebirds. “Through our bold menu
offerings and customer-oriented approach, Firebirds has become a neighborhood
staple in each of the local communities we operate in. We are confident
that Firebirds will continue its impressive trajectory of growth while
delivering the best possible dining experience for our guests.”
Cowen and Company, LLC (dba
TD Cowen) and Netrex Capital Markets, LLC served as financial advisors
to Garnett Station Partners. Kirkland & Ellis LLP served as legal advisor
to Garnett Station Partners. NorthPoint Advisors served as financial advisor
to Firebirds.
|
|
About Garnett Station
Partners
Garnett
Station Partners is a principal investment firm founded in 2013 by
Matt Perelman and Alex Sloane that manages ~$2 billion of assets. Garnett
Station partners with experienced and entrepreneurial management teams
and strategic investors to build value for its portfolio of growth platforms.
The firm draws on its global relationships, operational experience and
rigorous diligence process to source, underwrite and manage investments.
Core sectors include consumer and business services, health & wellness,
automotive, and food & beverage. Garnett Station’s culture is based
on the principles of entrepreneurship, collaboration, analytical rigor
and accountability. For more information, please visit www.GarnettStation.com.
About Firebirds Wood Fired
Grill
Firebirds
Wood Fired Grill, a polished casual American restaurant, is an energetic
twist on the traditional grill featuring a boldly flavored menu in a stylish,
fire-centric atmosphere. Signature menu items include hand-cut steaks and
fresh seafood seared over locally sourced hickory, oak, or pecan wood on
Firebirds’ exposed wood-fired grill. Complementing its inviting dining
room, a patio with seasonal comforts and the award-winning FIREBAR®
are additional gathering spaces inside the restaurant. Firebirds has been
named one of ten ‘Breakout Brands’ by Nation’s Restaurant News,
and the 2022 Diners’ Choice Winner awarded by OpenTable. Firebirds partners
with Alex’s Lemonade Stand Foundation,
having surpassed $3 million raised for childhood cancer research through
the sale of fresh-squeezed lemonade. Visit www.FirebirdsRestaurants.com
to become a member of Firebirds’ Inner Circle, make an OpenTable reservation,
or order ToGo online.
Media Contact:
Lesley
Gamwell
404-309-6915
Rountree Group
Integrated Communications
Agency |
