30 Apr, 2024

Deal Wrap: Roark closes Subway buy; BGF invests in Eleven Sports Media

Deal Wrap is updated as of 3 p.m. ET.

– Affiliates of Roark Capital Management LLC completed their purchase of quick service restaurant brand Doctor's Associates Inc., doing business as Subway. Paul Weiss advised Roark on the deal.

– BGF Investment Management Ltd. said it made a "multi-million-pound investment" in Eleven Sports Media Ltd. The UK-based sports marketing business will use the funding to support its international growth and increase its presence in the US.

– Edmunds GovTech Inc., which provides enterprise resource platform software to local governments across the US, received significant growth capital from TA Associates Management LP. LLR Partners Inc. will remain an investor in Edmunds.

The Riverside Co. acquired Arbeidsmiljø og Energiteknikk AS, a third-party consumables and laboratory/cleaning equipment distributor based in Norway, from RA Service AS and management. The acquisition is an add-on to Dastex Reinraumzubehör GmbH & Co. KG, a Germany-based portfolio company of Riverside.

– WindRose Health Investors LLC purchased patient access marketplace SubjectWell for undisclosed terms. McDermott Will & Emery LLP and Silicon Legal Strategy were legal advisers to WindRose and SubjectWell, respectively.

– Riverspan Partners invested in Barretts Minerals Inc., a high-purity talc mining and processing company, out of its first fund. Milbank LLP and McDermott Will & Emery LLP are legal advisers to Riverspan.

– Trivest Partners LP made a minority growth investment in Alta Pest Control LLC, which provides residential pest control services across nine US states. TGIF II provided the investment on behalf of Trivest, and William Blair was the financial adviser to the private equity firm in the transaction.

– Essen Health Care, an independent healthcare provider, secured investment from Kain Capital LLC. Essen will use the funding to open clinics and increase medical coverage across the Bronx in New York City.

– General Mills Inc. finalized its acquisition of Edgard & Cooper Foundation, an independent premium pet food brand in Europe, which will be funded with cash on hand. An investor group including The Craftory Ltd. and DLF Venture I Gérant SA was the seller. Raymond James & Associates Inc. was General Mills' lead financial adviser on the deal, and White & Case LLP was legal counsel. Morgan Stanley & Co. International PLC was the financial adviser to Edgard & Cooper, and Linklaters LLP was legal adviser.

For more private equity deals, read our latest In Play report, which looks at potential private equity-backed M&A, including rumored transactions, each week.