Roark Capital Group, an Atlanta-based private equity firm, announced the closing in December 2014 of Roark Capital Partners IV LP with total investor limited partner commitments of $2.5 billion. Fund IV closed at its hard cap.
Roark is investing out of Roark Capital Partners III LP, a $1.5 billion fund raised in September 2012. Overall, Roark has raised over $6 billion of equity capital commitments since inception in 2001.
Roark focuses on consumer, business, and environmental service companies, with a specialization around franchised and multiunit business models in the retail, restaurant, and consumer services sectors. Since inception, Roark has acquired 34 franchise/multiunit brands, which have generated $16 billion in annual system revenues from 18,000 locations in 50 states and 72 countries.
Roark’s current brands include Anytime Fitness, Arby’s, Atkins Nutritionals, Batteries Plus Bulbs, Carl’s Jr., Corner Bakery, FOCUS Brands (the owner of Auntie Anne’s Pretzels, Carvel Ice Cream, Cinnabon, McAlister’s Deli, Moe’s Southwest Grill, and Schlotzsky’s), Hardee’s, Il Fornaio, Massage Envy, Miller’s Ale House, Money Mailer, Pet Valu, Primrose Schools, Waxing the City, and Wingstop Environmental services platform companies include Quala and Solterra Recycling Solutions.
Lazard Frères & Co. LLC acted as placement agent and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel to Roark.