On July 28, 2021, PPX Hospitality Brands (“PPX”), a Boston-based restaurant group, received an investment from Bain Capital Credit.
The Restaurant M&A practice of Duff & Phelps, A Kroll Business, served as exclusive financial advisor to PPX Hospitality Brands in connection with the transaction.
About PPX Hospitality Brands
Based in Boston, Massachusetts, PPX is a restaurant management group formed to be the stewards of iconic brands in hospitality. PPX is backed by Danu Partners (“Danu”), a Dublin-based investment holding company with investments across a broad range of business sectors. In March 2016, Danu acquired Smith & Wollensky Restaurant Group, a network of high-end steakhouses across the United States and select international locations committed to delivering unparalleled hospitality and the best USDA Prime steaks, dry-aged for tenderness and flavor and hand cut on site daily. In January 2020, Danu formed PPX Hospitality Brands and acquired Boston-based Strega Group followed by the acquisition of Boston-based Legal Sea Foods (“LSF”) in December 2020. LSF operates over 20 restaurants serving quintessential New England fare and over 40 varieties of fresh fish and shellfish. Troutman Pepper Hamilton Sanders LLP served as legal counsel to PPX.
About Bain Capital Credit
Bain Capital Credit is a leading global credit specialist with over $40 billion in assets under management. Bain Capital Credit invests across the full spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt and special situations, direct lending, structured products, non-performing loans and equities. Proskauer Rose LLP served as legal counsel to Bain Capital Credit.
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