Roark Capital Group Acquires Batteries Plus
Private equity firm acquires its 13th franchise company: largest dedicated battery retailer in the U.S.
November 06, 2007 // Franchising.com // ATLANTA – Roark Capital Group, an Atlanta-based private equity firm, announced today the acquisition of Batteries Plus. Headquartered in Hartland, Wis., Batteries Plus is the leading dedicated retailer of batteries and battery accessories. Batteries Plus generates approximately $200 million in system-wide sales through 292 franchise and 15 company-owned stores in 41 states and Puerto Rico, serving both retail customers and commercial accounts.
The acquisition of Batteries Plus is Roark's 13th in the franchise sector. Roark's other franchise businesses include Carvel, Cinnabon, Schlotzsky's, Moe's Southwest Grill and Seattle's Best Coffee International (all of which are owned by Focus Brands, a Roark platform company), McAlister's Deli, Money Mailer and Fast Signs. Roark's 13 franchise brands collectively have more than 13,000 points of distribution, 4,000 locations, 2,000 franchisees, and $2.9 billion in system-wide revenues in 50 US states and 33 countries.
"Batteries Plus is the market leader and category creator in the strong and growing batteries market," said Neal Aronson, Founder and Managing Partner of Roark Capital. "The management team, led by CEO Russ Reynolds and COO Tom O'Hare, has done an outstanding job of building the company's brand, infrastructure and franchise base. We are very excited to partner with this outstanding team."
Reynolds, who is investing alongside Roark in the transaction, will continue to lead the company as CEO. "I'm very happy about Batteries Plus joining the Roark family of franchise brands," Reynolds commented. "Roark's expertise and relationships in the franchise sector will be extraordinarily valuable to us as we execute Batteries Plus' growth plan. Their ability to help refine best practices and identify opportunities for improvement in franchise businesses is second to none."
Alan Epstein, Chairman of Batteries Plus stated: "My family and I are very pleased that our legacy will be carried forward by Roark and the current management team. Roark has the experience, integrity and track record to sustain and grow Batteries Plus, and I am confident that our customers, employees, and franchisees will all benefit greatly from Roark's stewardship."
About Roark Capital Group
Roark Capital Group is an Atlanta-based private equity firm that specializes in business and consumer service companies with attractive growth prospects and revenues ranging from $20 million to $1.0 billion. Specific areas of focus include franchise, direct marketing, and financial services. The firm has more than $1.5 billion of equity capital under management. For more information, visit www.roarkcapital.com.
About Batteries Plus
Batteries Plus is the largest dedicated retailer of batteries and battery accessories. The company's product assortment includes over 15,000 different SKUs. >From 307 locations in 41 states and Puerto Rico, Batteries Plus sells to retail and commercial customers and provides services including battery testing and installation. For additional information, visit www.batteriesplus.com.
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