PALO
ALTO, Calif., Aug. 14,
2024 /PRNewswire/ -- Altamont Capital Partners
(Altamont) today announced the
successful close of its first continuation fund, extending its
investment and partnership with Tacala LLC (Tacala), the nation's
leading Taco Bell franchisee with over 360 locations across the
Southeastern United States. The
transaction was oversubscribed and was led by Blue Owl Strategic
Equity and Pantheon and also included participation from Adams
Street Partners, Kline Hill Partners, W Capital Partners and
Altamont's most recent Fund IV, as
well as significant reinvestment from both Altamont and Tacala management.
Since Altamont first invested
in Tacala in 2012, the company has grown from 160 to over 360
restaurants and more than quadrupled its earnings. In addition, in
2023, Altamont and Tacala
management formed a sister company to Tacala to operate as a
franchisee within the 7 Brew drive thru coffee system. While the
transaction enabled liquidity for existing Altamont investors, it also provides
significant capital to support the company's go-forward growth
objectives in the Taco Bell system and beyond, including the rapid
build-out of its 7 Brew business.
"We are excited to announce our continued partnership with
Tacala following such a successful collaboration over the past
decade," said Randall Eason,
Altamont Managing Director. "We look forward to supporting the
business as it embarks on its next phase of growth as a multi-brand
platform."
"It brings us great pleasure to be continuing on with
Altamont as our partner," said
Joey Pierson, CEO of Tacala. "The
new capital from this transaction will allow us to more rapidly
achieve our next stage of growth. While it's an exciting step
forward, our focus will remain the same: serve our customers, serve
our teams, and serve our communities with kindness."
Lazard acted as lead financial advisor to Altamont and Jefferies acted as co-advisor.
Weil, Gotshal & Manges LLP served as legal counsel to
Altamont.
About Tacala
Based in Birmingham, AL, Tacala operates Taco Bell
restaurants in Alabama,
Georgia, Tennessee, Texas, Kentucky, Virginia, and North
Carolina with a significant presence in each of its local
markets. The owners and managers of Tacala also own a related
business, Southern Brew, which operates 7 Brew stands in
Alabama, Georgia, Tennessee, and Kentucky. www.Tacala.com
About Altamont Capital Partners
Altamont Capital
Partners is a private investment firm based in the San Francisco Bay Area with over $4 billion in assets under management.
Altamont is focused on investing
in middle market businesses where it can partner with leading
management teams to help its portfolio companies reach their full
potential. The firm's principals have significant experience
building business success stories across a range of industries,
including multi-unit consumer, industrials, financial services and
business services. For more information, visit
www.altamontcapital.com.
About Blue Owl
Blue Owl (NYSE: OWL) is a leading asset
manager that is redefining alternatives. With over $192 billion in assets under management as of
June 30, 2024, Blue Owl invests
across three multi-strategy platforms: Credit, GP Strategic
Capital, and Real Estate. Anchored by a strong permanent capital
base, Blue Owl provides businesses with private capital solutions
to drive long-term growth and offer institutional investors,
individual investors, and insurance companies differentiated
alternative investment opportunities that aim to deliver strong
performance, risk-adjusted returns, and capital
preservation. The Blue Owl Strategic Equity team seeks to
provide long-term capital appreciation through direct investments
in private equity assets, with a focus on GP-led continuation funds
and minority investments. Together with over 820 experienced
professionals, Blue Owl brings the vision and discipline to create
the exceptional. To learn more, visit www.blueowl.com.
About Pantheon
Pantheon is a leading global private
markets specialist, currently investing $65
billion in discretionary AUM (as of December 31, 2023) on behalf of more than 1,000
investors, including institutional investors of all sizes as well
as a growing number of private wealth advisors and investors.
Pantheon has been at the forefront of private markets investing for
more than 40 years, earning a reputation for providing innovative
solutions covering the full lifecycle of investments across private
equity, real assets, and private credit. The firm is a pioneer in
global secondaries and has been investing in the segment since
1987, since which time it has committed approximately $27 billion to secondary transactions, including
close to $18 billion to private
equity secondaries across over 400 transactions.
Contact: Zazni Vlijter, zvlijter@narrativedc.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/altamont-capital-partners-announces-its-successful-continuation-vehicle-transaction-with-tacala-302221626.html
SOURCE Altamont Capital Partners