BUNKER HILL CAPITAL SELLS SMITH & WOLLENSKY
March 21, 2016
Bunker Hill Capital, a leading Boston based private equity investor in lower middle market companies, announced today the sale of its portfolio company, The Smith & Wollensky Restaurant Group (”SWRG”, or the “Company”), to Danu Partners (“Danu”), a private investment firm based in Ireland and a sub‐licensee of SWRG which opened a restaurant in London in June, 2015. David Jacquin, Founder and Managing Director of North Point Advisors, advised Bunker Hill Capital and SWRG on the sale.
Mark DeBlois, a Managing Partner of Bunker Hill Capital, stated, “It has been our privilege to work with SWRG CEO Mike Feighery and his team in opening two new locations at Atlantic Wharf, Boston and in London with Danu. We could not be more pleased in transitioning the stewardship of this extraordinary brand to our existing sub‐licensee partners at Danu, and we wish them every success.”
Leonard Ryan of Danu added, “We are delighted to have concluded this deal to acquire what we believe to be an iconic steakhouse brand, with superb potential for further growth and development. We look forward to working with Mike Feighery and his team to continue to expand the reach of the brand both domestically and internationally. We would also like to thank Bunker Hill Capital for their assistance to us in opening the new London location and in concluding this transaction so smoothly.”
Michael Feighery, CEO and President of SWRG and now 30 year veteran of S&W, added, “This is an incredibly exciting time for our group. To be partnered with a group of hospitality professionals who appreciate the ongoing need to invest in our people and our facilities is critical to our success. Danu has that insight, and they share in our vision for growth both here and abroad. As our journey with Bunker Hill Capital comes to an end, we are incredibly grateful for their insight and leadership in helping us fine‐tune our business systems and strategy for this next exciting chapter.”
Headquartered in Boston, MA, The Smith & Wollensky Restaurant Group is a leading operator of high‐end, high‐volume steakhouses located in major cities across the United States. Smith & Wollensky is one of the few national steakhouses that dry‐ages and hand‐butchers USDA Prime beef on premise to ensure unparalleled quality, tender texture and outstanding flavor. Each Smith & Wollensky restaurant offers distinctive high quality food, creative menus, an extensive wine selection and exceptional customer service accompanied by attractive design and décor. The Company’s seven restaurants are located in Miami Beach, Chicago, Las Vegas, Columbus, Houston and two locations in Boston (Atlantic Wharf and Back Bay).
Bunker Hill Capital is a private equity firm that makes investments in lower middle market companies with enterprise values up to $120 million. The principals of Bunker Hill Capital have invested over $570 million in 36 transactions and target opportunities across four industry sectors including industrial products, business services, consumer products and specialty retail. Bunker Hill Capital’s current portfolio company investments include Rizing, a leading SAP services firm; Dyno, the exclusive licensee of the Singer brand for sewing accessories and producer and marketer of holiday decorative home products; Hubbardton Forge, a Vermont based premier designer and manufacturer of branded hand‐forged premium lighting fixtures; Specialty Brands Holdings, a holding company for two restaurant brands; Courtagen, a diagnostic testing services company; ASPEQ Heating Group, a manufacturer of highly engineered electric heating and thermal management technologies; Taos, a California based IT infrastructure consulting and managed services firm; and ImportLA (dba TATSoul), a California based designer, manufacturer, distributor, and marketer of furniture, equipment, and supplies serving the tattoo, pet grooming, and spa/salon markets. For more information on Bunker Hill Capital, please visit www.bunkerhillcapital.com.