Firebirds Wood Fired Grill, a 48-unit “polished-casual” restaurant concept, has been acquired by J.H. Whitney Capital Partners LLC from Angelo, Gordon & Co. Terms of the deal were not disclosed.
Firebirds' CEO Mark Eason, who will continue on in his current role, said Tuesday that the deal positions the brand for growth in both new and existing markets.
"J.H. Whitney's willingness to invest in the long-term success of our brand and their alignment with our core values make them the ideal partner to help us execute our growth strategy," he said in a statement. "We are very pleased to have J.H. Whitney's experience, resources and team of professionals supporting Firebirds."
The Charlotte, N.C.-based grill restaurant chain — which specializes in steaks, seafood and burgers — was featured in August 2018 as a Next Gen brand by Nation’s Restaurant News for its sales growth and online ordering and digital marketing initiatives. The chain had $161.3 million in systemwide sales and sales growth of 12.1 percent in the fiscal year ended Dec. 2017, according to Nation’s Restaurant News Top 200 data.
"Firebirds is a unique brand that has a distinguished and proven track record of profitability and growth and is run by a management team that is one of the most dynamic in the industry," Paul R. Vigano, J.H. Whitney’s senior managing director said in a statement.
Contact Joanna Fantozzi at [email protected]
Follow her on Twitter: @JoannaFantozzi