H.I.G. Capital News


Elliot Maluth
Managing Director

Jeff Bohl

H.I.G. Capital
One Sansome Street
37th Floor
San Francisco, CA 94104
P 415.439.5500
F 415.439.5525

H.I.G. Capital Completes Acquisition of T-Bird Restaurant Group, Inc.

SAN FRANCISCO – October 7, 2015 – H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm with $19 billion of equity capital under management, is pleased to announce that its affiliate has completed the acquisition of T-Bird Restaurant Group, Inc. (“T-Bird”, or the “Company”). Headquartered in La Jolla, California, T-Bird is the exclusive franchisee of Outback Steakhouse for the state of California, operating 63 stores across the state.

Founder and CEO Thomas Shannon, Jr. said: “T-Bird is proud to have successfully represented the Outback brand for more than 20 years in California. The Company is well-positioned to extend its track record of growth and success, especially given the resources and motivation of H.I.G. Capital. For both our customers and employees, I am excited to partner with H.I.G. to continue growing the Outback brand in the California market.”

Elliot Maluth, Managing Director at H.I.G. Capital, added: “We are excited to build on the foundation that Tom and his team have established and to accelerate the growth of Outback Steakhouse in California. The management team at T-Bird is well-recognized as the best in the business. Aided by the world class support of the franchisor, Bloomin’ Brands, we are confident in T-Bird’s ability to both drive growth and sustain industry-leading profitability.”

About T-Bird Restaurant Group, Inc.
Based in La Jolla, California, T-Bird Restaurant Group, Inc. is the exclusive California franchisee of Outback Steakhouse, an Australian-themed steakhouse restaurant. In addition to beef and steak items, the concept offers a variety of chicken, ribs, seafood, and pasta dishes. The Company's strategy is to differentiate its restaurants by emphasizing consistently high-quality food and service and great value in a casual atmosphere inspired by the Australian Outback.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $19 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. Other H.I.G. funds invest in various real assets, including real estate and shipping.

Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.