Atlanta-based private equity investment firm Roark Capital Group closed its third private equity fund, at $1.5bn.
Roark Capital Partners III LP received support from existing investors and a number of new investors, including endowments and foundations, public and corporate pension funds, sovereign wealth funds and family offices.
Led by Managing Partner Neal Aronson, the fund will continue the firm’s strategy of acquiring companies in the franchise/multi-unit, brand management, consumer products and services, environmental services and business services industries.
Roark’s current portfolio of brands includes Arby’s, Atkins, Auntie Anne’s, Batteries Plus, Bosley’s Pet Food, Carvel Ice Cream, Cinnabon, Corner Bakery, FASTSIGNS, FOCUS Brands, Home Service Store, Il Fornaio, Massage Envy, McAlister’s Deli, Moe’s Southwest Grill, Money Mailer, Pet Valu, Primrose Schools, Schlotzsky’s and Wingstop. In addition, the firm has acquired over 25 environmental services businesses through its three platform companies GFL Environmental, Qualawash and Waste Pro.