Brightwood Capital Advisors Provides Senior Term Loan to Fund Yardbird’s Strategic Growth Strategy
NEW YORK, August 2, 2022 /PRNewswire/ — Brightwood Capital Advisors (“Brightwood”), a leading private lending firm, today announced that it has agreed to provide financing to Yardbird Group (the “Company”) to implement an opportunistic growth strategy and further strengthen the company’s existing operations. This investment is the latest made by Brightwood’s third SBIC fund, Brightwood Capital SBIC III, LP.
Founded in 2011 by John KunkelYardbird Group is a Miamiaward-winning restaurant-based restaurant concept with a modern approach to traditional Southern cuisine. The Company, owned by TriSpan and by John Kunkel 50 Eggs Hospitality Group, currently owns and operates four locations in Miami, Los Angeles, dallas and washington d.c.and licenses two additional locations in Vegas and Singapore. Yardbird plans to open two new locations over the next twelve months, including one in Chicago scheduled to open in September 2022and one in denverscheduled to open in March 2023.
“Yardbird’s success over the past several years is a testament to the company’s award-winning culinary and beverage programs and its market-leading position. The company is well positioned to continue its expansion through United States,” said Scott PorterManaging Director of Brightwood.
“Our partnership with Brightwood will be invaluable as we continue to strengthen our business and expand into new markets,” said John Kunkel, CEO of Yardbird. “With the combined strength of our highly experienced team and Brightwood’s industry resources, we are confident that we can continue to capitalize on market opportunities and deliver even greater value to our stakeholders.”
“We are very pleased to partner with Brightwood Capital as the company embarks on its next chapter of growth,” said Antoine FreijyPartner at TriSpan.
Brightwood acted as sole lender for the transaction. Financial terms were not disclosed.
About Brightwood Capital
Brightwood Capital is a direct lending private investment firm that specializes in providing growth capital to U.S.-based small and medium-sized businesses in five primary industries: healthcare services, business services, technology and telecommunications, transport and logistics and franchising. Brightwood’s team of over 45 employees manages approximately $4.5 billion of capital on behalf of its investor base.
Founded in 2015, TriSpan is a private equity firm with offices in New York and London which invests in small capitalization companies North America, Europeand the UK with annual incomes typically ranging from $20-100 million and/or EBITDA of $2-20 millions. TriSpan is committed to creating value by bringing a combination of deep operational and financial resources to drive strong growth and performance. Since its creation, the firm has invested in 17 platforms totaling more than 76 companies to date. For more information, visit the firm’s website at www.trispanllp.com
The goal of the TriSpan Rising Stars platform is to become one of the industry’s leading strategic F&B partners that delivers real value to foodservice entrepreneurs with the help of our internal senior operational partners. Collectively, TriSpan’s partners have invested in nearly 30 food and beverage companies around the world.
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SOURCEBrightwood Capital Advisors