H.I.G. Capital, LLC, a leading global private equity investment firm with $19 billion of equity capital under management, announced that its affiliate has completed the acquisition of T-Bird Restaurant Group, Inc. Headquartered in La Jolla, California, T-Bird is the exclusive franchisee of Outback Steakhouse for the state of California, operating 63 stores across the state.
Founder and CEO Thomas Shannon, Jr. says, “T-Bird is proud to have successfully represented the Outback brand for more than 20 years in California. The Company is well positioned to extend its track record of growth and success, especially given the resources and motivation of H.I.G. Capital. For both our customers and employees, I am excited to partner with H.I.G. to continue growing the Outback brand in the California market.”
Elliot Maluth, Managing Director at H.I.G. Capital, adds: “We are excited to build on the foundation that Tom and his team have established and to accelerate the growth of Outback Steakhouse in California. The management team at T-Bird is well recognized as the best in the business. Aided by the world class support of the franchisor, Bloomin’ Brands, we are confident in T-Bird’s ability to both drive growth and sustain industry-leading profitability.”