Roark Capital Group

Roark Capital Group is a private-equity firm focused on leveraged buyout investments in middle-market companies primarily in the franchise/multi-unit, restaurant and food, retail healthcare and business services sectors. Their portfolio spans 27,000 locations across all 50 states in the United States and across 80 countries.

The firm, which is based in Atlanta, Georgia, was founded in 2001 by the current Managing Partner, Neal K. Aronson. Senior team members include President Paul D. Ginsberg, Senior Managing Director and Co-Chief Investment Officer Ezra S. Field, Senior Managing Director and Co-Chief Investment Officer Erik O. Morris, and Managing Directors Timothy Armstrong, Stephen D. Aronson, Geoff Hill, Matthew Kaelin, and Steven Romaniello. Prior to founding Roark Capital Group, Aronson was a co-founder of U.S. Franchise Systems.

Roark finished investing out of its fifth institutional private equity fund, Roark Capital Partners V, at $5 billion, which exceeded the funds initial $4 billion target, in October 2018. They also closed Roark Capital Partners II Sidecar at $1.5 billion, announced on the same date. The Roark Capital Partners V is a traditional buyout fund. Roark Capital Partners II Sidecar invests in Inspire Brands, a holding company which acquires and manages multiple restaurant companies.

Roark Capital Group pursues majority deals which include management buyouts, take-private transactions, corporate divestitures and recapitalizations. They target investments between $15 million to $1 billion in companies whose management teams Roark Capital Group feel are experienced and with at least $20 million in revenue and $20 million in earnings before interest, tax, depreciation and amortization (EBITDA).