US-based principal investment firm Garnett Station Partners has acquired and recapitalised the polished-casual dining chain Firebirds Wood Fired Grill.
The companies did not reveal the terms of the deal.
Established in 2000 in Charlotte, North Carolina, Firebirds operates in 56 locations across 20 states in the US.
Known for its wood-burning grill, the casual dining chain aims to expedite its growth and development with Garnett Station’s strategic capital infusion.
Firebirds CEO Steve Kislow said: “We are incredibly proud of the brand that Firebirds is today and are thrilled to work in partnership with Garnett Station as we enter this next chapter.
“Through our bold menu offerings and customer-oriented approach, Firebirds has become a neighbourhood staple in each of the local communities we operate in.
“We are confident that Firebirds will continue its impressive trajectory of growth while delivering the best possible dining experience for our guests.”
For the deal, TD Cowen and Netrex Capital Markets served as financial advisers to Garnett Station Partners. Legal advice was provided by Kirkland & Ellis.
NorthPoint Advisors served as financial advisers to Firebirds.
Garnett Station co-founder and managing partner Matt Perelman said: “Firebirds has found tremendous success over the past 20 years through the power of its concept, the passion of its team and the loyalty of its guests contributing to its consistent industry outperformance from both an average unit volume and same-store traffic perspective.
“We look forward to working closely with Steve and the entire management team to support and accelerate the brand’s long-term growth.”