Beef 'O' Brady's completes a recapitalization

TAMPA, Fla. Family Sports Concepts Inc., the franchisor of more than 230 Beef ‘O’ Brady’s casual-dining restaurants, closed last week on a “major recapitalization” funded by private-equity firm Levine Leichtman Capital Partners, according to a statement from the parties. Terms of the deal were not disclosed.

The invested capital will be used for shareholder dividends and additional unit growth, said investment bank The Cypress Group, which structured the deal.