The Beekman Group Announces That Its Affiliate Has Made An Investment In Mexican Restaurant Chain, Ted’s Cafe EscondidoJuly 09 - 2013
The Beekman Group, LLC (“Beekman”) today announced that its affiliate has made an investment in Ted’s Café Escondido Holdings, Inc. (“Ted’s” or the “Company”), a full-service Mexican/Tex-Mex casual dining restaurant chain based in Oklahoma City, OK. Beekman’s affiliate partnered with successful restaurant executive Hal W. Smith to recapitalize the business with the existing management team. Mr. Smith is currently the CEO of the Hal Smith Restaurant Group, a restaurant management company that operates 12 concepts in 7 Southern states with over 60 locations. Ted’s is Beekman’s second transaction in two months and brings their second lower middle-market private equity fund to approximately half invested.
“We are excited to partner with Hal and the Ted’s management team. Ted’s has developed a well-recognized brand through its high-quality food offering and commitment to an exceptional guest experience.” John G. Troiano, Beekman’s Managing Partner and CEO, said, “The Mexican casual dining category has a lot of room for growth and Ted’s is well positioned, with attractive unit economics and an efficient operating model, to capitalize on that opportunity.”
Mr. Smith commented, “I am excited to be partnering with The Beekman Group as Ted’s begins its next phase of growth. Beekman’s experience and strong track record in building small businesses will help position the Company’s infrastructure for growth and drive the expansion of the popular Ted’s brand.”
Andrew Marolda, Managing Director at Beekman, added, “The Company’s culture of customer service and staff training are a key contributor to Ted’s financial success and popularity, and clearly differentiates Ted’s operations from most casual dining restaurants. We look forward to supporting the management team in executing their growth strategy.”
Based in Oklahoma City, OK, Ted’s Café Escondido is a full-service Mexican/Tex-Mex casual dining restaurant chain. The Company has built a loyal customer following based on its food quality, an exceptional guest experience, an outstanding value proposition, and by living up to the Company’s slogan, “The Way Mexican Food Should Be.”
The original Ted’s location quickly became a destination for all Mexican food fans in the mid-1990s. The Company expanded from one to five stores through the 2000s and recently opened its sixth location in Tulsa, OK. Ted’s consistently wins the “Best Mexican Restaurant” award from the Oklahoma Gazette and has also won many resident-voted awards for best Mexican food. The Company operates six restaurants in Oklahoma City, OK and Tulsa, OK. For more information, please visit www.tedscafe.com.
About The Beekman Group
The Beekman Group is a leading private equity firm dedicated to bringing financial and operational resources to lower middle-market companies. Beekman’s team consists of experienced private equity professionals, as well as a select group of Industry Partners, who are leading executives in Beekman’s targeted industry segments. This Industry Partner approach to investing is the cornerstone of Beekman’s investment strategy — creating value through accelerating growth in partnership with small and middle-market management teams. For more information, please visit www.thebeekmangroup.com.
About Hal Smith Restaurant Group
Founded in 1992, Hal Smith Restaurant Group (“HSRG”) is a restaurant management company that operates 12 concepts in 7 states with over 60 locations. HSRG includes the following multi-unit concepts: Charleston’s Restaurant, Red Rock Canyon Grill, Mahogany Prime Steakhouse, Krispy Kreme, Louie’s Bar & Grill, Toby Keith’s I Love This Bar & Grill, The Garage, Upper Crust and soon to be KD’s (Kevin Durant’s). Prior to forming HSRG, Mr. Smith served in various senior leadership positions including Chairman & CEO of Chi-Chi’s Mexican Restaurants, President of Chili’s, Inc. and CEO of Steak & Ale Restaurant Corporation.