The investors are the private equity firms Charter Private Equity, LP (Dallas), White Oak Capital Partners, LP (Dallas), and Capital Point Partners (Houston), as well as individual investor Henry Leonard (Tyler). Mr. Leonard, incoming CEO of Rockfish, stated, 'We are pleased to have purchased the Rockfish Seafood Grill restaurants. Founder Randy Dewitt did a terrific job of creating and incubating the concept, and his team has developed a dynamic and energetic culture that is ready for growth. We're honored to be part of such a motivated and seasoned group.'
Rockfish, headquartered in Richardson, Texas, is a casual dining restaurant company that operates 14 restaurants principally in the DFW Metroplex, with additional units located in Houston, Lubbock and Durham, North Carolina. Rockfish is well known for offering guests a distinctive 'crave-able' menu with a comfort food twist comprised of popular items such as fish tacos, a shrimp basket and the award winning Mexican Shrimp Martini. 'I am pleased that I was able to sell the Rockfish brand to a solid operating team interested in growing the concept. The sale enables me to further develop the Twin Peaks brand and launch additional new brands,' commented Rockfish founder Randy DeWitt.
Mr. Ray Washburne, President of Charter Private Equity added, 'Rockfish is a restaurant we have always admired. We are pleased to add it to our restaurant brands and look at it as a cornerstone brand that we plan for an immediate expansion.'
GE Capital provided senior debt to the acquirer who was represented by Haynes Boone. Rockfish was represented by Munsch, Hardt, Kopf, & Harr, P.C. for legal matters and by Mastodon Ventures, Inc. as sell-side advisor. Specific terms of the transaction were not disclosed.
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