The private equity firm Sentinel Capital Partners has acquired Lexington-based Fazoli’s Group, Inc., franchisor and operator of 213 Fazoli’s restaurants nationwide. Terms of the deal were not disclosed.
“Fazoli’s has consistently outperformed its competitors and will be a very strong addition to our restaurant portfolio. The business has demonstrated robust financial performance and recently built impressive momentum,” said Sentinel partner John McCormack in a news release on the acquisition.
Fazoli’s, which was founded in Lexington in 1988, is a leading dining concept in the category of Italian fast casual. The restaurant, which serves moderately priced pasta entrees, sandwiches, pizza and salads, was named as a “Top 40 Food Franchise” by Franchise Business Review in 2015.
Sentinel Capital Partners specializes in companies at the lower end of the middle market. It adds Fazoli’s to its portfolio of restaurants, which includes more than 2,300 units in 61 countries with annual sales of nearly $4 billion. The firm’s other restaurant investments include Newk’s Eatery, TGI Fridays, Checkers and Huddle House.