BWW Houston Partners and Crevest Have Sold Their Five Restaurants to United Restaurant Holdings
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HOUSTON, July 9, 2018 -- GulfStar Group (GulfStar) announced that the five Houston-area restaurants of BWW Houston Partners, Ltd. (BWW Houston) and Crevest Ventures, LLC have been acquired by United Restaurant Holdings, LLC (United), an operating affiliate of SPARK Restaurant Group (SPARK). GulfStar served as the exclusive financial advisor to BWW Houston throughout the transaction, which closed on May 21, 2018.
Established in 1982 and headquartered in Minneapolis, MN, Buffalo Wild Wings (BWLD) is firmly established as the dominant sports-themed dining chain in the U.S. The BWW Houston restaurants are consistently ranked amongst the highest performing BWLD restaurants in the country, with stores in the attractive sub-markets of Sugar Land, Copperfield, Hedwig Village, The Woodlands and Atascocita. BWW Houston was managed by Stephen Chappelear and Clifford Sadowsky, who are retiring as two of the longest tenured franchisees in the BWLD system.
"This is a bittersweet transaction for us, as it represents the culmination of a long and successful relationship with the BWLD Organization," said Clifford Sadowsky. "We look forward to the continued success of the units under the guidance and leadership of the SPARK team."
Stephen Chappelear added: "Having now completed two separate sales processes with the GulfStar and Gray Reed teams, I'd like to commend them for their dedication to our needs and goals, their tenacity in getting the deals done the right way and their knowledge of the many complexities embedded in the sales process."
Founded and led by Sanjay Mehra, SPARK is an emerging leader in casual dining restaurant management based in Houston, Texas that is focused on partnering with premier casual dining brands with a relentless commitment to excellence in operations, culture, results, assets, strong relationships and innovation.
"Steve and Cliff have done a truly admirable job at establishing, growing and consistently supporting the BWLD banner here in the Houston market," said Scott Winship, managing director with GulfStar. "The results really speak for themselves, but there was no shortage in the application of care and concern for employees or focus on the consumer dining experience on the part of the BWW Houston team, which is clearly represented in the long-term operating success achieved in this highly competitive market. We look forward to the continued success of the system in the capable hands of Sanjay and his team, and we are honored to have been involved in this successful outcome for all."
The GulfStar transaction team was led by Managing Director Scott Winship along with Vice President Charlie Craig and Analyst Maclean Martin.
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About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 675 transactions in 34 states and 16 foreign countries across a variety of industries.