Miami-based group plans to add locations in Chicago and Denver in 12 months
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Brightwood Capital Advisors has agreed to provide financing to the Yardbird Group, the six-unit upscale Southern table and bar concept, the companies said Tuesday.
New York-based Brightwood and Miami-based Yardbird plan to use the financing to open two new locations of the concept over the next 12 months: one in Chicago in September and another in Denver in March 2023, the companies said. Terms of the financing were not disclosed.
The investment, made through one of Brightwood’s small business investment company funds, Brightwood Capital SBIC III LP, adds to Yardbird’s funding round with Trispan Rising Stars LP private-equity firm in 2017.
"Yardbird's success over the last few years is a testament to the company's award-winning culinary and beverage programs and its position as a market leader,” said Scott Porter, Brightwood managing director, in a statement. “The company is well positioned for further expansion throughout the United States."
Yardbird was founded in 2011 by John Kunkel. Kunkel's 50 Eggs Hospitality Group, owns and operates four Yardbird locations in Miami, Dallas, Los Angeles and Washington D.C., and licenses two additional locations in Las Vegas, Nev., and Singapore.
Kunkel, Yardbird's CEO, said the Brightwood partnership would strengthen the busienss as it moves into new markets.
“With the combined force of our deeply experienced team and Brightwood's industry resources,” Kunkel said in a statement, “we're confident that we can continue to capitalize on market opportunities and deliver even greater value to our stakeholders.”
Yardbird was named a Nation’s Restaurant News Breakout Brand in 2020.
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