Authentic Restaurant Brands Adds Tavern in the Square via Broadway Hospitality Group Recapitalization

Authentic Restaurant Brands / Garnett Station Partners Acquires Fiesta Restaurant Group (Pollo Tropical)

November 16, 2023

Restaurants & Hospitality

Authentic Restaurant Brands (an ARB platform backed by Garnett Station Partners) completed a take-private acquisition of Fiesta Restaurant Group, Inc., the parent of the Pollo Tropical restaurant brand, in an all-cash transaction valued at $8.50 per share. The deal (supported by a $115 million senior secured credit facility provided by Comvest Credit Partners) brings Pollo Tropical into ARB's portfolio to expand and strengthen its regional restaurant platform.

Brigade, Arbour Lane and Anchorage Assume Majority Ownership of Gabe's in Recapitalization

August 26, 2025

Retail

Gabe's, a Morgantown-based off-price retailer, closed a recapitalization where existing term lenders converted over 75% of outstanding term loans into equity and a group of existing investors (led by Brigade Capital Management, Arbour Lane Capital Management and Anchorage Capital) assumed majority ownership. The transaction provides new capital, reduces debt, and is supported by continued ABL financing from Second Avenue Capital Partners and Ares Credit funds while Gabe’s finalizes vendor and landlord agreements to strengthen its store portfolio and operations.

Arbor Investments Recapitalizes Dr. G's Creations

November 15, 2021

Food & Beverage

Arbor Investments has completed a recapitalization of food-ingredient supplier Dr. G's Creations, marking the third platform investment for Arbor Fund V. The partnership will provide capital and operational support to help Dr. G's scale production, add infrastructure and systems, and expand distribution to meet growing demand from large QSRs, casual-restaurant chains and food processors; terms were not disclosed.

Garnett Station Partners Acquires and Recapitalizes Firebirds Wood Fired Grill

March 27, 2023

Restaurants & Hospitality

Garnett Station Partners, a New York-based principal investment firm, has acquired and recapitalized Firebirds Wood Fired Grill, a polished-casual dining chain founded in Charlotte, North Carolina. Financial terms were not disclosed; Garnett Station said the recapitalization will provide strategic capital to accelerate Firebirds' growth and development across its 56 locations in 20 states.

Balance Point Invests in ABTB to Support Acquisition of 39 Taco Bell Restaurants in Atlanta

September 28, 2023

Restaurants & Hospitality

Balance Point Capital provided a follow-on equity investment in ABTB Mid-Atlantic Holding Company, LLC to support the acquisition of 39 Taco Bell restaurants in the Greater Atlanta metro. The stores will be operated by experienced QSR operator SWN LLC (Southpaw), which currently runs 180+ Taco Bell and Dunkin' locations and partners with Balance Point to expand its footprint.

Orangewood Partners Sells Kentucky-Based Taco Bell Franchisee ABTB

February 1, 2023

Restaurants & Hospitality

Orangewood Partners announced the divestiture of its Kentucky-based Taco Bell franchisee, ABTB. Financial terms were not disclosed; ABTB was formed in 2018 in partnership with Southpaw and grew to operate ~39 Taco Bell locations in the Greater Louisville, Kentucky market before the exit.