Corlex Capital acquires Wingstop restaurants in Boston, Indianapolis
New deal for additional expansion in Metro-Boston market brokered
Corlex Capital purchased 10 Wingstop restaurants from Prospect Capital over the course of the past month. The minority-owned and Atlanta-based private equity firm also signed a new development agreement to build or buy an additional 13 Wingstop restaurants.
The purchase of five restaurants in Indianapolis and four restaurants in Boston took place in late 2020, and the tenth (in Indianapolis) closed January 6. The new development deal covers Boston, where Corlex will develop its Wingstop restaurants over the next three years.
“We are proud to have joined the Wingstop family and we are eager to bring Corlex’s operational prowess to the newly acquired, ” said Jason “JB” Bedasse, founder and chief executive of Corlex.
Corlex also provides third-party operational management and consulting services to the QSR segment. The firm provides expertise in labor shortages and wage pressures, advances in technology & e-commerce, and supply and delivery solutions. In addition, it offers advisory services related to health & safety and COVID-19-related operational challenges.
As it continues to grow, Corlex is eying other franchise concepts. Monroe Moxness Berg PA served as legal advisor to Corlex Capital while Paris Ackerman LLP provided legal advice to Prospect Capital Restaurants in this transaction.
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