SPB Hospitality Acquires J. Alexander's Holdings for $220 Million

SPB Hospitality Adds Krystal Restaurants to Portfolio

April 27, 2023

Restaurants & Hospitality

SPB Hospitality has completed a merger with Krystal Restaurants, adding nearly 300 quick-service locations and roughly 3,500 employees to SPB's portfolio. The move expands SPB's multi-brand restaurant platform (which is owned by funds managed by affiliates of Fortress Investment Group) and aims to leverage shared services and best practices across brands.

MW Group, Blackstone Real Estate and DivcoWest Take Alexander & Baldwin Private in $2.3 Billion Deal

March 19, 2026

Real Estate

A joint venture backed by an affiliate of MW Group and funds affiliated with Blackstone Real Estate and DivcoWest completed an all-cash transaction to acquire all outstanding common shares of Alexander & Baldwin. The deal values the company at approximately $2.3 billion enterprise value, including outstanding debt, at $21.20 per share (net $20.85 after the prior dividend deduction at closing).

ASM Global Acquires Majority Stake in Anthony James Partners

January 18, 2022

Professional Services

ASM Global has acquired a controlling interest in Anthony James Partners (AJP), an AV consultant and owner’s representative that specializes in large-scale audiovisual systems for stadiums, arenas, convention centers and campuses. The acquisition is intended to bolster ASM Global’s technology capabilities—covering digital signage, LED displays, broadcast production, audio/lighting and integration services—across its global venue portfolio.

Saalex Corporation Acquires Spalding Consulting

January 24, 2024

IT Services

Saalex Corporation has acquired Lexington Park–based Spalding Consulting in a transaction valued at over $75 million. The acquisition adds Spalding's 430+ employees to Saalex, expands Saalex's annual revenues to over $175 million, establishes an East Coast presence near NAWCAD Patuxent River, and will have Spalding operate as a wholly owned subsidiary with existing leadership retained.

BP Products North America Acquires TravelCenters of America

April 11, 2023

Transportation

BP Products North America Inc. will acquire TravelCenters of America Inc. for $86.00 per share in cash, valuing the deal at approximately $1.3 billion. The Hart-Scott-Rodino waiting period expired April 10, 2023, and shareholder approval was set for May 10, 2023 with closing expected shortly thereafter (target May 15, 2023).

J.S. Held Acquires Phoenix Management Services and Phoenix IB

October 10, 2023

Consulting

Global consulting firm J.S. Held has acquired Phoenix Management Services and Phoenix IB to expand its turnaround, restructuring, corporate finance, and investment banking capabilities. The deal brings Phoenix's operational turnaround and advisory expertise together with a FINRA-registered broker-dealer platform to support middle-market special-situation and M&A work across multiple industries.