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Investing.com -- On Wednesday, Bain Capital finalized an agreement to acquire Sizzling Platter, a restaurant-chain operator, from CapitalSpring. The transaction is valued at over $1 billion, including the assumption of debt, according to Bloomberg, citing sources familiar with the matter. This acquisition marks a significant expansion for the private equity firm into the food service industry.
The deal was communicated to Sizzling Platter's bondholders on the same day. Financing for the purchase is being facilitated by Jefferies Group Inc. and UBS Group AG (NYSE:UBS), as per the informed sources.
When approached for comments, representatives from UBS and Jefferies declined to provide any statements. Similarly, representatives for Bain Capital and CapitalSpring have not immediately responded to requests for comments regarding the deal.
This acquisition by Bain Capital underscores the investment firm's interest in the restaurant industry, which includes a diverse range of fast-food and casual dining establishments. The financial details of the transaction, including the specific terms and the expected impact on the operations of Sizzling Platter, have not been disclosed at this time.
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