Roark Capital Acquires Subway Restaurants

Roark Capital Acquires Majority Stake in Fitness Connection

February 4, 2019

Consumer Products

Roark Capital, an Atlanta-based private equity firm, acquired a majority stake in Fitness Connection from LNK Partners. The investment positions Fitness Connection—an affordable, multi-location fitness chain operating 41 clubs with over 500,000 members—for national growth and expansion under Roark’s multi-unit consumer expertise; terms were not disclosed.

Roark Capital Acquires Mathnasium

November 16, 2021

Education

Roark Capital, an Atlanta-based private equity firm focused on franchised and multi-location businesses, has acquired Mathnasium, a leading franchisor and operator of math learning centers. Mathnasium operates over 1,000 locations across 46 U.S. states and 12 countries; Roark intends to expand the brand’s reach and support franchisee growth globally.

Roark Capital Group Acquires Majority Stake in Dave's Hot Chicken

June 11, 2025

Restaurants & Hospitality

Roark Capital Group has acquired a majority stake in Los Angeles-based fast-casual chain Dave's Hot Chicken in a deal reported at roughly $1 billion. The founders and senior leadership will remain in place as Roark positions the brand for accelerated domestic and international franchised growth leveraging its restaurant portfolio and supply-chain capabilities.

City Capital Ventures Majority Investment in Rackson Restaurants

January 21, 2021

Restaurants & Hospitality

City Capital Ventures (CCV) has made a majority investment in Rackson Restaurants, a Bridgewater, New Jersey-based Burger King and Popeyes franchisee operating 55+ quick-service restaurants across six Northeastern and Mid-Atlantic states. The investment brings an investor group that includes Saxonwold Capital (led by Rob Selati) and will support Rackson's plan to scale as a multi-branded QSR platform across the Northeastern U.S.; MUFG provided senior debt financing.

Beach Point Capital Acquires Metro Franchising from Quilvest Capital Partners

September 25, 2024

Restaurants & Hospitality

Beach Point Capital Management LP has completed an investment to acquire a majority stake in Metro Franchising, the largest Dunkin' franchisee in the New York City metro region with 105 units, from Quilvest Capital Partners. Quilvest exits after growing Metro from 44 to 105 units; Beach Point's capital will support Metro's next phase of growth under new ownership.

Restaurant Brands International Acquires Firehouse Subs

November 15, 2021

Restaurants & Hospitality

Restaurant Brands International Inc. agreed to acquire Firehouse Subs (Firehouse Restaurant Group Inc.) for $1.0 billion in an all-cash deal. The acquisition adds a fast-growing, franchise-driven quick-service sandwich brand with ~1,200 restaurants and is expected to be immediately accretive to RBI's earnings while enabling accelerated U.S. and international expansion and digital capability enhancements.