New owners could mean more aggressive growth for regional sports bar franchise concept.
According to a company press release, The Greene Turtle Franchising Corporation announced that JPB Capital Partners has acquired a majority ownership interest in the company through an investment that will support the company’s continued growth and expansion. The Greene Turtle Franchising Corporation, based in Edgewater, MD, is an owner and franchisor of sports-oriented restaurants in the Mid-Atlantic region. Currently, fourteen Greene Turtle locations are in operation and agreements are in place to open an additional fifteen.
Mike Sanford will continue in his role as President and CEO of The Greene Turtle Franchising Corporation and will lead the execution of the company’s strategic growth plan, including the addition of both company-owned and franchised restaurants. The company recently opened a location in the Verizon Center complex, home to the Washington Wizards and Capitals, in Washington, DC, and two new locations at BWI Airport and Lewes, DE will open in the coming months.
Commenting on the investment in The Greene Turtle, J.P. Bolduc, Senior Managing Director of JPB Capital Partners, stated, “We are excited to make this investment in The Greene Turtle and are highly confident that Mike Sanford and his outstanding management team will continue the profitable growth of the company. JPB Capital Partners will do everything it can to support and augment the growth of The Greene Turtle in the coming years.”
Commenting on JPB Capital Partners’ investment in the company, Mike Sanford stated, “JPB Capital Partners’ investment will enhance our ability to maximize the potential of the Greene Turtle and their experience in assisting companies in accelerating and managing profitable growth will be invaluable to our future efforts.”
About JPB Capital Partners
JPB Capital Partners is a private equity firm located in Columbia, Maryland that invests in lower middle market companies in the Mid-Atlantic and Southeast. The JPB Capital Partners team combines operational expertise with its extensive network of relationships. The firm is making this investment out of its latest private equity fund, JPB Capital Partners II, L.P.