Unbridled Provides Sell-Side Advisory to 65 Wendy's in PA, OH, and WV


Unbridled Capital recently provided sell-side advisory services to Primary Aim, LLC, led by brothers Ben, Tim, and Steve Thompson, on the sale of 65 Wendy’s in Pennsylvania, Ohio, and West Virginia. The restaurants were acquired by Delight Restaurant Group, led by brothers and existing franchisees Rich and Andrew Krumholz.

“It has been a true honor to work with these parties on this successful sale. The Thompsons started as a 1-unit franchisee in 1999, Can you believe that? The brothers came together and grew a tremendously successful Wendy’s business through blood, sweat, tears, and plenty of elbow grease. They are the very essence of the American Dream that I speak about so much. We saw them as an ideal client and fit for Unbridled, and we jumped at the opportunity to help them realize their life’s dreams,” said Rick Ormsby, Managing Director at Unbridled Capital.

With this acquisition, Delight Restaurant Group has now become one of Wendy’s largest franchisees. Unlike many deals of this size, this transaction involved a seller and buyer who are both families, not private equity investors.

“My brothers and I have known Rick and the Unbridled team for many years. We have watched their growth, listened to their podcast, and sought them for market commentary. Over that time, we found their reputation to be sterling, and as such, when it came time to downsize our Wendy’s business, they were a no-brainer to hire as an advisor for our family,” said franchisee Tim Thompson.

The franchise M&A market has contracted quite a bit over the past two years, and this Wendy’s platform was a rare asset in the market due to its quality operations, strong AUVs, and recent growth.

From franchisee Steve Thompson, “We were very pleased with the Krumholz family as buyers, who we have known for many years within the Wendy’s system. Unbridled did an amazing job from inception through deal closing. They were vigilant, knowledgeable, and always ready to solve problems of any kind. They did a fantastic job – a perfect ten out of ten.”

Now with 226 Wendy’s and Taco Bell restaurants generating $500 million in annual sales and employing 7,000 people, this acquisition represents an exciting time of growth for Delight Restaurant Group.

“We are thankful to the Thompsons for working alongside us to accomplish this sale. We are incredibly excited about adding these restaurants to our company as we build on our long-term vision. To Unbridled Capital, we congratulate them on a great job. Their persistence, attention to detail, and can-do attitude made a major difference in getting this deal closed. We are impressed,” said franchisee Andrew Krumholz.

As a condition of this closing, Unbridled Capital will make a donation to the Dave Thomas Foundation for Adoption. The Foundation’s mission is to dramatically increase the number of adoptions of children waiting in North America’s foster care systems and give each child the loving “forever” family they deserve.  Rich Krumholz is a Board of Trustees member and a big believer in its mission, vision, and future. And at Unbridled, we want to be a blessing because we have been blessed.

With a historical success rate of around 90% in an uncertain M&A environment, why would you go elsewhere? Unbridled Capital is your surest bet when choosing an M&A advisor who can actually close the deal for you. For more information, contact Rick Ormsby at 502-252-6422 and [email protected].