Levine Leichtman Capital Partners and Management Acquire Tropical Smoothie Cafe

Blackstone Acquires Tropical Smoothie Cafe from Levine Leichtman Capital Partners

June 12, 2024

Restaurants & Hospitality

Private equity funds managed by Blackstone have completed the acquisition of Tropical Smoothie Cafe from Levine Leichtman Capital Partners. Tropical Smoothie Cafe, a fast-casual franchisor headquartered in Atlanta with more than 1,400 locations nationwide, will partner with Blackstone to accelerate expansion, menu innovation and digital guest experience enhancements.

Levine Leichtman Capital Partners and Management Acquire Club Champion

February 5, 2019

Retail

Levine Leichtman Capital Partners (LLCP) partnered with Club Champion management to acquire Club Champion, a leading U.S. provider of custom golf club fitting services and retail golf equipment. Headquartered in Willowbrook, Illinois, Club Champion operated 47 stores across 25 states at the time of the transaction and will pursue continued store expansion under LLCP's ownership.

Levine Leichtman Capital Partners Invests in cleversoft

June 12, 2023

Software

Levine Leichtman Capital Partners (LLCP) has agreed to invest in cleversoft Group GmbH in partnership with founder Florian Clever and the existing management team, with Main Capital Partners exiting its prior investment. cleversoft, a Munich‑headquartered RegTech software provider serving global banks, asset managers and insurers, will use the investment to scale internationally and pursue organic growth and select acquisitions; terms were not disclosed.

Levine Leichtman Capital Partners and Management Acquire USA Industries from Sky Island Capital

December 16, 2025

Manufacturing

Levine Leichtman Capital Partners (LLCP) has partnered with USA Industries’ management team to acquire USA Industries, LLC from Sky Island Capital. USA Industries, a South Houston-based manufacturer of piping isolation, tube plugs, orifice plates and heat-exchanger tools, will continue to be led by CEO Justin Watts as a platform investment for LLCP's Lower Middle Market Fund III; financial terms were not disclosed.

Levine Leichtman Capital Partners Acquires Kilwins

March 13, 2023

Food & Beverage

Levine Leichtman Capital Partners (LLCP) has acquired Kilwin's Quality Confections, Inc. and Kilwins Chocolates Franchise, Inc. (together, Kilwins), a franchisor, retailer, manufacturer and distributor of premium chocolate, ice cream and confectionary products. Founded in 1947 and headquartered in Petoskey, Michigan, Kilwins operates over 150 locations across 25 states; founders Robin and Don McCarty will retain an ownership interest and financial terms were not disclosed. LLCP said it will work with management to accelerate growth through franchise expansion, new channel opportunities and product innovation.

Co-CEOs Buy Mountain Mike's Pizza from Levine Leichtman Capital Partners

February 16, 2022

Restaurants & Hospitality

Levine Leichtman Capital Partners has sold its investment in Mountain Mike's Pizza to an entity controlled by the company's co-CEOs, Chris Britt and Ed St. Geme, in a management-led buyout. Mountain Mike's Pizza is a franchisor with over 245 stores across multiple western U.S. states and is headquartered in Newport Beach, California; LLCP had invested in the company in 2017 and helped drive store growth and franchising initiatives.