CIC Partners Closes Three Deals: Leads Major Investment in Quiznos And Sells Two Portfolio Companies

CIC Partners has invested in the fastest growing restaurant chain in America, Quiznos, by leading a significant recapitalization for the Company. This transaction will enable Quiznos to realize its aggressive growth plans for the future.

“CIC Partners was not only attracted to the successful history of Quiznos, but also the exciting future as well,” said Michael Rawlings, General Partner of CIC Partners.

Quiznos is the second largest sandwich chain in the U.S. and the fastest-growing restaurant franchisor as well, according to Nation’s Restaurant News. With over 4,000 units in operation and systemwide sales of over $1.25 billion, Quiznos, headquartered in Denver, CO, positions itself as a higher quality alternative to other Quick Service Restaurant (QSR) and sandwich concepts with its innovative product offerings.

GreenLeaf Auto Recycling, a leading supplier of recycled original-equipment automotive parts, was successfully sold in September 2005 by CIC Partners to a strategic acquirer, Schnitzer Steel Industries Inc. (Nasdaq: SCHN), one of the nation’s largest recyclers of ferrous metals and used auto parts retailers with more than 50 locations in the U.S. and in Canada.

Additionally, CIC Partners sold Industrial Container Services (ICS), the largest steel and plastic drum reconditioning and remanufacturing company in the United States. In conjunction with two former owner/operators, CIC acquired ICS in February 2002 in a buyout from IFCO Systems N.V. Together, CIC and management grew the business through acquisitions and organic growth before successfully selling the Company to Wingate Partners in September 2005.

Together, the combined sales resulted in a full return of CIC’s prior funds’ invested capital, with four remaining portfolio companies still under management.



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