August 8, 2025 – Dallas, TX: CIC Partners (“CIC”), a Dallas-based middle-market private equity firm, is pleased to announce the sale of Willie’s Grill & Icehouse (“Willie’s” or the “Company”.)
Based in Houston, Texas, Willie's Grill & Icehouse is a leading regional fast casual restaurant concept operating 21 restaurants across Central Texas. Since opening the first restaurant in 1993, Willie's Grill & Icehouse has built a loyal following attracted to its made-from-scratch, Texas-inspired fare. Hearty burgers, local seafood, and fresh salads accompany troughs packed with ice cold beer in a rustic setting reminiscent of a Lone Star icehouse. Willie's large enclosed patios and glass garage doors offer a relaxing atmosphere while friendly staff strives to leave guests of all ages with a memorable, comfortable and affordable experience.
Fouad Bashour, Managing Partner of CIC Partners, said, “Partnering with founders and talented management teams is at the core of what we do at CIC, and Willie’s is another great example. Despite the challenging environment the restaurant industry faced during our hold period, Willie’s consistently outperformed in service, value, intent to return, and most importantly, customer satisfaction.”
“CIC’s flexible capital structure and long-time horizon enabled the management team, led by CEO Greg Lippert, to respond to the dynamics of the COVID epidemic.,” Bayard Friedman, Managing Director, CIC Partner said. “We focused on value, customer experience and delivering an exceptional product. Willie’s customer loyalty speaks for itself.”
“The support of the CIC Partners’ team and operating partners along with Willie’s co-founder Jay Barnes helped make this a productive and personally rewarding experience. I am proud of the growth our team delivered and look forward to our bright future.” Greg Lippert, CEO stated.
The transaction was completed in Q2 2025. The financial terms of the private transaction were not disclosed.
About CIC Partners
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in owner-operator led companies across sectors with particular focus on the food, consumer, and industrial industries. CIC manages the personal capital of its investment team, operating partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage its collective experience of its team, who are successful CEOs and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private equity investing for its investors and management teams for over 30 years. For additional information, please visit www.cicpartners.com