Levine Leichtman Capital Partners’ Acquisition of Tropical Smoothie Café


Kirkland & Ellis LLP advised LLCP, while Alston & Bird advised Tropical Smoothie Café on the deal.

Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, has partnered with management to acquire Tropical Smoothie Cafe, LLC (“Tropical Smoothie Cafe” or the “Company”).

Tropical Smoothie Cafe is a leading franchisor of fast casual cafes with over 870 units across 44 states. The Company inspires a healthier lifestyle by serving better-for-you smoothies, wraps, sandwiches, and flatbreads across multiple dayparts. Tropical Smoothie Cafe was founded in 1997 and is headquartered in Atlanta, GA.

Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 37-year track record of successfully investing across various targeted sectors, including franchising, professional services, education and engineered products.

Debt financing was provided by Golub Capital.

The Kirkland team was led by transactional partners Kevin Mausert (Picture), Shelly Hirschtritt, Bryan Ikegami, Tushin Shah and associates Angela Oldham and Elena Babakhanyan; tax partners Rachel Cantor and Polina Liberman; debt finance partners Dave Nemecek and Katie Taylor and associates Andrew Hurley and Matthew Demopoulos; technology & IP transactions partner Neil Hirshman and associate Imani Lee; employee benefits partner Alexandra Mihalas and associate Chris Chase; labor & employment partner Matthew Keiser and associate Jackson Phinney; executive compensation partner Jack Stratton and associate Anthony Ji; real estate partner Roberto Miceli and associates Jenna MacDonald and Talia Krause; environmental transactions partner Sara Webber and associate Donna Ni; international trade partner Mario Mancuso and associate Carrie Schroll; M&A clearance director Kurt Wunderlich; and paralegal Sandy Ruiz.

Involved fees earner: Elena Babakhanyan – Kirkland & Ellis; Rachel Cantor – Kirkland & Ellis; Chris Chase – Kirkland & Ellis; Shelly Hirschtritt – Kirkland & Ellis; Neil Hirshman – Kirkland & Ellis; Andrew Hurley – Kirkland & Ellis; Bryan Ikegami – Kirkland & Ellis; Anthony Ji – Kirkland & Ellis; Matthew Keiser – Kirkland & Ellis; Imani Lee – Kirkland & Ellis; Polina Liberman – Kirkland & Ellis; Jenna MacDonald – Kirkland & Ellis; Mario Mancuso – Kirkland & Ellis; Matthew Taylor Demopoulos – Kirkland & Ellis; Kevin Mausert – Kirkland & Ellis; Roberto Miceli – Kirkland & Ellis; Sara Michaelchuck Webber – Kirkland & Ellis; Alexandra Mihalas – Kirkland & Ellis; David Nemecek – Kirkland & Ellis; Donna Ni – Kirkland & Ellis; Angela Oldham – Kirkland & Ellis; Jackson Phinney – Kirkland & Ellis; Carolyn Schroll – Kirkland & Ellis; Tushin Shah – Kirkland & Ellis; Jack Stratton – Kirkland & Ellis; Katie Taylor – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Levine Leichtman Capital Partners;

Author: Ambrogio Visconti