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

Levine Leichtman Capital Partners and Management Acquire Tropical Smoothie Cafe

September 8, 2020

Restaurants & Hospitality

Levine Leichtman Capital Partners (LLCP) partnered with Tropical Smoothie Cafe's management team to acquire Tropical Smoothie Cafe, a leading franchisor of fast-casual cafes with over 870 units across 44 states. The company will continue to be led by CEO Charles Watson and the existing executive team as LLCP works with management to grow unit count, improve franchisee unit economics and expand system-wide sales; debt financing was provided by Golub Capital.

Blackstone Acquires Majority Stake in Jersey Mike's Subs

November 19, 2024

Restaurants & Hospitality

Private equity firm Blackstone has agreed to acquire a majority ownership position in Jersey Mike's Subs, with founder and CEO Peter Cancro retaining a significant equity stake and remaining CEO. The partnership is intended to accelerate Jersey Mike's U.S. and international expansion and support investments in technology and digital transformation; the transaction is expected to close in early 2025 pending customary approvals.

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 Invests in Blue Ridge ESOP Associates

March 26, 2020

Professional Services

Levine Leichtman Capital Partners (LLCP) has invested in Blue Ridge ESOP Associates in partnership with the company's existing owners and management; terms were not disclosed. Blue Ridge is a technology-enhanced provider of ESOP and 401(k) administration and recordkeeping services, serving over 700 plan sponsors and more than 175,000 plan participants from its headquarters in Charlottesville, Virginia.

WTWH Media (Mountaingate Capital) Acquires PMQ Pizza

June 15, 2023

Media & Entertainment

WTWH Media, a Mountaingate Capital portfolio company, has acquired PMQ Pizza, the leading B2B media brand for the pizza restaurant industry. The deal expands WTWH Media's Foodservice, Retail, and Hospitality network and represents an early add-on as WTWH executes a buy-and-build strategy with Mountaingate Capital.

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.