Harris Williams & Co. Advises Taco Bueno on its Sale to TPG Growth

December 4, 2015

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces its advisory role in the acquisition of a leading quick service restaurant plus (QSR+) chain, TB Corp. (Taco Bueno), by TPG Growth, the middle market and growth equity investment platform of TPG. Harris Williams & Co. served as the lead advisor to Taco Bueno, which was purchased from private equity funds affiliated with Palladium Equity Partners, L.L.C. (along with its affiliates, Palladium). The transaction was led by Tim Alexander, Glenn Gurtcheff, Brant Cash, Ryan Freeman and Michael Gilkes of Harris Williams & Co.’s Consumer Group.

“Taco Bueno has a loyal customer base in the fast-growing Mexican quick service restaurant segment,” said Tim Alexander, a managing director in Harris Williams & Co.’s Consumer Group. “Palladium and the management team have built a strong foundation from which TPG will grow Taco Bueno’s footprint in new and existing markets. We believe Taco Bueno’s management has the ideal partner in TPG Growth, and we are looking forward to the company’s continued success.”

“We believe today’s restaurant consumer is seeking quality, convenience, value and authenticity,” added Brant Cash, a director at Harris Williams & Co. “Taco Bueno has achieved its momentum by delivering this and steadily attracting new ‘Buenoheads’ to its freshly-prepared, craveable Tex-Mex recipes.”

Taco Bueno is committed to creating an authentic, fresher Tex-Mex experience. Taco Bueno is passionate about providing better tasting Tex-Mex, prepared daily with fresh, hand-selected ingredients. Founded in 1967 in Abilene, Texas, Taco Bueno operates 177 restaurants in Texas, Oklahoma, Missouri, Kansas, Arkansas, Louisiana and Colorado.  

Palladium is a middle market private equity firm with over $2 billion in assets under management. Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has invested over $1.5 billion of capital in more than 25 platform investments and over 50 add-on acquisitions. The firm focuses primarily on buyout equity investments in the range of $50 million to $150 million. The principals of the firm have significant experience in financial services, business services, food, healthcare, industrial and media businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium is based in New York City. 

TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With over $7 billion under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources and global experience to drive value creation and help companies reach their full potential. The firm is backed by the resources of TPG, which has approximately $75 billion of assets under management. TPG Growth's current and past investments represent a mix of iconic and innovative companies across tech, retail and entertainment including Uber, Airbnb, elf Cosmetics, Angie's Artisan Treats, Fender, SurveyMonkey and Red Book Connect. TPG Growth has offices in the United States, China, India, Brazil, Turkey, London and Singapore.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s Consumer Group has completed more than 50 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on Harris Williams & Co.’s Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.