In 2007, TSG partnered with the founder and management team at Yard House Restaurants in a majority recapitalization that included a modest amount of leverage, enabling rapid and geographically-diverse unit expansion.
When TSG exited its investment to Darden Restaurants at a business enterprise value of $585 million in 2012, sales had increased 2.9 times and EBITDA grew 3.1 times versus the year prior to TSG's investment. Additionally, new restaurants opened under TSG's stewardship generated significantly higher sales and increased ROI versus existing locations.
Founded in 1995, Yard House is a full-service restaurant featuring contemporary American cuisine with chef-inspired recipes and an extensive selection of draft beers in a stylish, energetic setting with a classic rock soundtrack.
Prior to TSG's investment, Yard House had 16 restaurants across Southern California.