Roark Capital Group
Roark Capital Group is an Atlanta-based private equity firm founded in 2001 that specializes in franchise and multi-location businesses across restaurant, health/wellness, business services, and education verticals. It manages multiple PE funds and invests in 60+ brands via operating platforms including Inspire Brands and Driven Brands.
- Company typePrivate
- Founded1996
- HeadquartersAtlanta, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Roark Capital Group does
Roark Capital Group is a private equity firm founded in 2001 by Neal Aronson and headquartered in Atlanta, Georgia. The firm specializes exclusively in franchise and multi-location business models across five verticals: restaurant and food, health and wellness, business services, education and youth activities, and franchise/multi-unit businesses broadly. Roark manages multiple private equity funds (Fund III closed at $1.5 billion in 2012; Fund IV at a $2.5 billion hard cap in 2015; Fund VI reported a 17% IRR; a new flagship fund targeting $5 billion was in market as of late 2025) and invests equity checks ranging from $50 million to over $1 billion in companies with $20 million to $5+ billion in revenue.
The firm's portfolio spans 60+ brands organized into operating platforms. Inspire Brands, Roark's flagship restaurant platform, encompasses Arby's, Buffalo Wild Wings, Dunkin', Jimmy John's, SONIC, and Baskin-Robbins — collectively generating approximately $33.4 billion in global systemwide sales across more than 33,300 restaurants. Other major holdings include Subway (acquired for $9.6 billion in 2024), Driven Brands (automotive services), GoTo Foods (Auntie Anne's, Cinnabon, Jamba), ServiceMaster Brands, Purpose Brands (Anytime Fitness, Orangetheory Fitness), and Youth Enrichment Brands (School of Rock, Mathnasium). Roark's go-to-market relies on industry relationships, direct executive outreach, investment banking intermediaries, and participation in franchise industry associations rather than broad-based marketing.
Roark's revenue model follows standard private equity economics: management fees on committed capital under management (typically 1-2% annually) plus carried interest (typically 20% above an 8% hurdle). The firm monetizes investments through a combination of strategic sales, sponsor-to-sponsor transactions (e.g., Nothing Bundt Cakes sold to KKR for ~$2 billion), and public market exits — most notably the planned 2026 IPO of Inspire Brands targeting a $20 billion valuation led by JPMorgan Chase and Bank of America. Capital is sourced from institutional limited partners including pension funds (Tennessee Consolidated Retirement System), endowments, and family offices.
Roark Capital Group firmographics
Firmographics- Name
- Roark Capital Group
- Legal name
- Roark Capital Management, LLC
- Website
- http://www.roarkcapital.com
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Roark Capital Group is an Atlanta-based private equity firm founded in 2001 that specializes in franchise and multi-location businesses across restaurant, health/wellness, business services, and education verticals. It manages multiple PE funds and invests in 60+ brands via operating platforms including Inspire Brands and Driven Brands.
- Ownership category
- akta.pro rank
Roark Capital Group industry classification
Industry- Product category
- Private Equity Investment Management
- NAICS
- Other Financial Investment Activities (5239), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Industry-Specialist Buyout (Sector-Focused) (FSANABAE)
- akta.pro secondary industry
- Large-Cap / Mega-Fund Buyout (FSANABAA)
Keywords
Where Roark Capital Group is headquartered
LocationHeadquarters
- HQ city
- Atlanta
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Roark Capital Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Management Fees: Private equity firms typically charge management fees on committed capital under management, typically 1-2% annually, to cover operational costs and fund sourcing activities.
- Carried Interest: Performance-based fees earned as a percentage of investment profits when portfolio companies are sold or go public, typically 20% of returns above an 8% hurdle rate.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Roark Capital Group product offering
Product offeringCore offering
Roark Capital Group is a private equity firm that provides growth capital, buyout financing, recapitalizations, and management buyouts to franchise and multi-location consumer and business service companies. The firm partners with operating management teams — who retain meaningful equity stakes — across restaurant and food, health and wellness, business services, and education/youth activities sectors, offering investment sizes from $50 million to over $1 billion in equity for companies typically generating $20 million to over $5 billion in revenue.
Product overview
Roark Capital Group is a private equity firm offering investment management services rather than a traditional product company. The firm operates through distinct investment platforms covering franchise/multi-unit businesses, restaurant and food brands, health and wellness, business services, and education/youth activities. Key platforms include Inspire Brands (restaurant portfolio with Dunkin', Arby's, Sonic, Jimmy John's, Buffalo Wild Wings, Baskin-Robbins), GoTo Foods (food brands including Auntie Anne's, Cinnabon, Carvel), Driven Brands (automotive services), Purpose Brands (fitness brands), and Youth Enrichment Brands (education programs). The firm manages multiple private equity funds and typically invests in companies with $20 million to $5+ billion in revenue.
Differentiator
Problem solved
Functional benefit
Products and services
- Private Equity Investment Services
Quantifiable outcome
- Fund VI generated 17% IRR; Fund V generated 12% IRR
- +2 more outcomes
Companies that use Roark Capital Group
Customer profileSegments6 records
Ideal customer profiles2 records
Roark Capital Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Roark Capital Group partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- Dave's Hot ChickencoreRoark Capital acquired a majority stake in Dave's Hot Chicken in a deal valued at nearly $1 billion. Dave's Hot Chicken is a fast-growing Nashville Hot chicken fast-casual restaurant chain founded in 2017, growing from a single parking lot location to over 300 franchised restaurants.
- SubwaycoreRoark Capital acquired Subway in 2024 for $9.6 billion. Subway is one of the world's largest quick service restaurant brands, serving freshly made-to-order sandwiches, wraps, salads and bowls across more than 100 countries and territories in nearly 37,000 restaurants.
- MathnasiumcoreMathnasium is a leading franchisor of math learning centers with over 1,000 locations across 46 states and 12 countries, acquired by Roark Capital in November 2021.
- Inspire BrandscoreInspire Brands is a leading global multi-brand restaurant platform owned by Roark Capital, comprised of iconic brands including Dunkin', Buffalo Wild Wings, Jimmy John's, SONIC, Arby's, and Baskin-Robbins, generating approximately $33.4 billion in global sales across more than 33,300 restaurants.
- CKE RestaurantscoreCKE Restaurants is one of the world's largest franchisors and operators of quick-service restaurants under the Carl's Jr. and Hardee's brand banners.
- Driven BrandscoreRoark Capital acquired Driven Brands, the largest automotive services company in North America, which manages a family of automotive brands including ABRA, CARSTAR, Maaco, Meineke, Take 5, Uniban, 1-800 Radiator, and others.
- GoTo FoodscoreGoTo Foods is the parent company of Auntie Anne's, Carvel, Cinnabon, Jamba, McAlister's, Moe's Southwest Grill, Schlotzsky's and the franchisor of Seattle's Best Coffee on certain military bases and in certain international markets.
Scale indicators10 records
Recent moves6 records
Expansion highlights5 records
Roark Capital Group competitors and assessment
Company assessmentBroad incumbents
- KKR & Co. Global alternative asset manager with large-cap PE, infrastructure, and credit franchises. Directly comparable as a mega-fund PE; also transacted with Roark by acquiring Nothing Bundt Cakes for ~$2B, demonstrating similar consumer-franchise appetite.
- Blackstone: World's largest alternative asset manager with mega-buyout funds, real estate, and credit. Comparable on scale and ability to deploy billions in single transactions, though less specialized in franchise/multi-unit.
- Carlyle Group: Large-cap global PE firm with consumer/retail expertise. Comparable in fund size, multi-platform strategy, and LP base, with meaningful overlap in franchise and restaurant investing.
- Apollo Global Management: Major alternative asset manager with large-cap buyout funds. Comparable on AUM scale and ability to underwrite complex, large consumer/retail situations; less concentrated in franchise/multi-unit thesis.
- TPG: Large-cap PE and growth firm with consumer and restaurant exposure (e.g., prior ownership of Cirque du Soleil and J.Crew). Comparable on size, consumer focus, and ability to lead billion-dollar transactions.
- Bain Capital: Large diversified PE firm with consumer and restaurant track record (e.g., Dunkin' historical ownership, Domino's prior investment). Comparable in consumer/franchise investing, fund size, and multi-platform strategy.
- Advent International: Global large-cap PE firm with sector specialists including consumer and retail. Comparable in scale, global footprint, and ability to lead complex, multi-billion-dollar buyouts.
- CVC Capital Partners: European-headquartered large-cap PE firm with a global consumer franchise practice. Comparable on AUM, deal scale, and consumer/restaurant investing appetite; differs in regional mix.
Direct peers
- Sycamore Partners: Specialist PE firm focused on consumer, retail, and franchise/multi-unit businesses. Directly comparable given the similar franchise and multi-location investment thesis, though typically smaller deal sizes than Roark's recent mega-deals.
- Leonard Green & Partners: Consumer/retail-focused PE firm with deep franchise experience (e.g., prior investments in Container Store, Topgolf). Closely comparable to Roark in its sector-specialist, consumer/franchise orientation and partnership-style approach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Roark Capital Group social profiles
Digital presenceRoark Capital Group compliance and trust
Trust signalCompliance1 record
Roark Capital Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Roark Capital Group leadership team
Management profileNumber of profiles
Profiles14 records
Roark Capital Group subsidiaries and ownership
Company hierarchySubsidiaries14 records
Roark Capital Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Roark Capital Group M&A and investment
M&A and investmentM&A21 records
Investments10 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Roark Capital Group
What does Roark Capital Group do?
Roark Capital Group is a private equity firm that provides growth capital, buyout financing, recapitalizations, and management buyouts to franchise and multi-location consumer and business service companies. The firm partners with operating management teams — who retain meaningful equity stakes — across restaurant and food, health and wellness, business services, and education/youth activities sectors, offering investment sizes from $50 million to over $1 billion in equity for companies typically generating $20 million to over $5 billion in revenue.
Is Roark Capital Group a public or private company?
Roark Capital Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Roark Capital Group founded?
Roark Capital Group was founded in 1996. It employs 101 to 250 people.
Where is Roark Capital Group based?
Roark Capital Group is headquartered in Atlanta, United States, in the North America region.
How does Roark Capital Group make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are Roark Capital Group's main competitors?
Broad incumbents on record are KKR & Co., Blackstone, Carlyle Group, Apollo Global Management, TPG, Bain Capital, Advent International and CVC Capital Partners. Direct peers are Sycamore Partners and Leonard Green & Partners.
Does Roark Capital Group have an API?
No public API is recorded for Roark Capital Group.
What industry is Roark Capital Group in?
Roark Capital Group's product category is Private Equity Investment Management. Its primary akta.pro industry code is FSANABAE, Industry-Specialist Buyout (Sector-Focused), with a secondary code of FSANABAA, Large-Cap / Mega-Fund Buyout. Its NAICS code is 5239 and its SIC code is 6282.