LONDON, UK: Partners Group, the Investment Manager of Princess Private Equity Holding Limited, has agreed, to sell Pacific Bells, a leading franchisee of the Taco Bell brand in the US, to Orangewood Partners, a long-term focused private investment firm.
The transaction values Princess’ stake in Pacific Bells at approximately USD 18.6 million. This compares to a carrying value of USD 18.4 million (EUR 15.9 million) at 30 September 2021.
Sujit John, Managing Director, Private Equity, Partners Group, says: “Pacific Bells is strongly positioned in the fast-growing, highly fragmented quick restaurant service sector and enjoys resilient cashflows.
Together with Pacific Bells’ best-in-class management team, we have successfully transformed the Company through integrating new acquisitions and investing in technology, which has aided faster delivery times and underpinned strong sales growth, ultimately leading to a great outcome for our clients.
We leave Pacific Bells well-placed for further expansion under its new ownership and wish the team well on this next stage of the Company’s growth.”
Tom Cook, Chief Executive Officer, Pacific Bells, comments: “We have thoroughly enjoyed our partnership with Partners Group and the firm’s entrepreneurial governance approach has played a key role in driving our sustainable growth in recent years.
There are more growth opportunities for us to access and our work with Partners Group means we now have a very solid foundation from which to do this. We are looking forward to working with our new partners at Orangewood in the years ahead.”
Princess is an investment holding company founded in 1999 and domiciled in Guernsey. It invests, inter alia, in private equity and private debt investments. Princess is managed in its investment activities by Partners Group, a global private markets investment management firm with USD 119 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. www.partnersgroup.com