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ICR Inc. represents Pinstripes as the dining and entertainment brand plans to go public via a SPAC deal with Banyan Acquisition Corp. valued at $520M.
Pinstripes has 13 made-from-scratch Italian food restaurants that also feature bowling and bocce. Six units are under construction and slated to open by the end of the year.
Founder Dale Schwartz launched Pinstripes in 2007 “to create fun interactions and celebrations that people crave.”
He projects 2024 revenue in the $190M range and EBITDA clocking in at about $32M. Revenue for Northbrook, IL-based Pinstripes is split 75/25 between food and games.
Schwartz sees the potential for 150 Pinstripes restaurants in the US and overseas.
The company will trade on the New York Stock Exchange when the deal closes during the fourth quarter.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
