Sizzling Platter Partners with Bain Capital to Drive Next Chapter of Growth

The investment will accelerate Sizzling Platter’s growth in partnership with category-leading restaurant brands

SALT LAKE CITY--(BUSINESS WIRE)--Sizzling Platter, LLC (“Sizzling Platter” or the “Company”), a premier restaurant franchise growth platform, today announced that it has partnered with Bain Capital to accelerate its expansion. The investment is being made by Bain Capital North American Private Equity, which is acquiring the business from CapitalSpring. Sizzling Platter will continue to be led by Chief Executive Officer Nathan Garn. Financial terms of the private transaction were not disclosed.

Sizzling Platter was founded in 1963 and has since evolved into one of the largest franchise platforms in North America, operating a portfolio of nationally recognized fast-casual and quick-service restaurant brands, including Little Caesars, Wingstop, Jersey Mike’s, Dunkin’, and Jamba, and employing over 13,000 team members across more than 800 locations in the United States and Mexico.

“This is a pivotal milestone for Sizzling Platter as we look to build on more than six decades of delivering unparalleled experiences for our team members, guests, and brand partners,” said Garn. “Bain Capital’s extensive experience investing in growing restaurant businesses makes it the right value-added partner to help expand our platform. The extraordinary scale we’ve achieved—and this transaction itself—would not have been possible without the strength, relevance, and enduring appeal of the exceptional brands we are fortunate to grow in. Together, we have an aligned vision on how we can continue to innovate and lead in a rapidly evolving industry.”

“With an exceptional portfolio of category defining brands, deep operational expertise, and a proven track record of profitable growth, we believe that Sizzling Platter is uniquely positioned to continue to scale as a global leader in franchising,” said Adam Nebesar, a Partner at Bain Capital. “We are excited to partner with Nate and the team to build on its strengths and long-term brand partnerships to enhance capabilities and accelerate growth,” added Mark Saadine, a Managing Director at Bain Capital.

“Nate and the Sizzling Platter team have been tremendous partners as we navigated the pandemic and executed on a multi-pronged growth strategy to double the company’s footprint,” said Erik Herrmann, Partner, Head of Investment Group at CapitalSpring, which has owned Sizzling Platter since 2019. “The accelerated growth we achieved working with the management team was driven by a focus on organic growth in our existing brands and investments in the Company’s infrastructure to support new unit development, acquisitions, and the addition of new brands to the platform,” added Kaivon Abrishami, Managing Director at CapitalSpring.

BofA Securities acted as lead financial advisor, and Kirkland & Ellis LLP acted as legal counsel to Bain Capital. UBS Investment Bank acted as lead financial advisor, and Proskauer Rose acted as legal counsel to Sizzling Platter and CapitalSpring. Deutsche Bank and North Point also served as financial advisors to Sizzling Platter and CapitalSpring. UBS Investment Bank, Jefferies, Deutsche Bank Securities, HSBC, BNP Paribas, KKR Capital Markets, Mizuho, RBC Capital Markets, Santander, Stifel, and Wells Fargo Securities provided committed debt financing for the transaction and financial advisory services to Bain Capital.

About Sizzling Platter

Sizzling Platter is one of the world’s largest and most dynamic restaurant franchise growth platforms. We are proud of our longstanding track record as a trusted growth partner to iconic, category-leading brands. As a people-first organization, our mission is to deliver unparalleled experiences for our team members, guests, and brands. Relentless focus on our mission continues to fuel our growth. For more information about the Company, visit www.sizzlingplatter.com

About Bain Capital

Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

Bain Capital North American Private Equity has deep experience investing in restaurants including prior historical investments in Bloomin’ Brands, Burger King, Domino’s Pizza, and Dunkin’ Brands, and its current investment in Fogo de Chão.

About CapitalSpring

CapitalSpring is a leading private equity and debt investment firm with deep expertise in foodservice, multi-location business models and related industries. For over 19 years, CapitalSpring has supported entrepreneurs and management teams with financial, operational, and strategic resources to help accelerate growth and to realize the full potential of their businesses. CapitalSpring offers one-stop solutions for a broad range of investments including private equity, mezzanine capital and senior lending. The firm has offices in Nashville, Los Angeles, Atlanta, and New York.