Restaurants & Hospitality Acquisitions in Ohio

4x4 Capital has acquired Bob Evans Restaurants, LLC from Golden Gate Capital in a transaction intended to drive long-term growth and operational enhancements for the family-style restaurant chain. Bob Evans operates roughly 400+ locations across 18 states with more than 15,000 employees; CEO Mickey Mills will remain in place while 4x4's Gustavo Assumpção will serve as Executive Board Chair.

Delight Restaurant Group acquired 65 Wendy's restaurants across Pennsylvania, Ohio and West Virginia from Primary Aim, LLC, increasing its portfolio to 226 restaurants and positioning the company as one of the largest Wendy's franchisees. The transaction expands Delight's footprint and scale as it continues pursuing growth through acquisitions and new-unit development.

Heritage Golf Group has acquired Oasis Golf Club and Conference Center in Loveland, Ohio, marking the group's first property in Ohio. Terms were not disclosed; Heritage says the purchase expands its national footprint and will focus on enhancing member experience and amenities at the Arnold Palmer–designed, 18-hole championship course and onsite conference facilities.

Rosser Capital Partners completed a growth investment in Kitchen Social, a three-unit, small-box, bar-centric full-service restaurant concept based in Ohio. The funding will be used to accelerate Kitchen Social's expansion into new and existing markets; financial terms were not disclosed.

An affiliate of Black Bear Sports Group, Inc. has acquired the Deep Freeze Ice Arena in Boardman/Youngstown, Ohio. The facility — which includes an Olympic-sized rink and the Extreme Air Trampoline Park — will serve as the official practice and training facility for the USHL Youngstown Phantoms and expands Black Bear's footprint in the Western Pennsylvania/Ohio market.

Arcis Golf has acquired Four Bridges Country Club in Liberty Township, Ohio, from HPA Development Group Inc. and partners Doug Herald and Graham Parlin, closing on June 6 with Arcis assuming operations June 7. The purchase expands Arcis Golf's portfolio and Ohio footprint as part of its strategy to grow high-quality private and lifestyle club holdings.

TOCA Football, a Costa Mesa-based technology-enabled soccer and entertainment operator, has acquired Force Sports, the largest sports center operator in the Cleveland area that runs five facilities. The deal expands TOCA’s Midwest footprint and adds five Cleveland-area centers to its North American network as it pursues rapid site growth and plans to more than double its sites in 2022.

Kind of One Concepts, a Cleveland-based hospitality group (a MUVI business led by Todd Leebow), has purchased Village Square Pizza from long-time operator Joe DeGaetano. The buyer will continue operating the restaurant under its original brand in the existing space (the location subsequently reopened in Woodmere, Ohio), preserving the local pizza shop's legacy.

Pie Guys Restaurants LLC, led by Mike Kern and Chip Hurst, has acquired Rapid Fired Pizza LLC from founder Ray Wiley. Rapid Fired Pizza is a Kettering, Ohio–based fast-casual pizza franchisor with roughly 33 locations across six states; the new owners plan franchise expansion and growth into non-traditional channels. Financial terms were not disclosed.

National Fitness Partners (NFP), a portfolio company of Argonne Capital Group, acquired 16 Planet Fitness club locations — 15 in the greater Cleveland and Akron-Canton, Ohio markets and one in central Pennsylvania. The deal was financed with junior capital from funds managed by the Credit Group of Ares Management and expands NFP's footprint to 94 Planet Fitness clubs with development rights across several states.

An affiliate of Beekman Investment Partners IV (The Beekman Group) completed a recapitalization of Condado Tacos. Founder and CEO Joe Kahn remains the company's largest individual shareholder and Condado will use the partnership to accelerate growth of its fast-casual taco concept across the Midwest and into new markets.

Private equity firm ClearLight Partners has made an investment in Handel's Homemade Ice Cream in partnership with owner Leonard Fisher; terms were not disclosed. Headquartered in Youngstown, Ohio, Handel's operates nearly fifty corporate and franchised scoop shops across multiple U.S. states, and ClearLight said the investment will support national expansion of the brand.