ICV Partners LLC, an investment firm in New York focused on middle market companies, has made an investment in Shelby Charter Township’s JK&T Wings, a leading franchisee of Buffalo Wild Wings. Details of the investment were not disclosed.
Buffalo Wild Wings was founded in 1982 and has more than 1,200 restaurants in 10 countries. It was acquired in February 2018 by Inspire Brands, which also owns Arby’s, Sonic, and Jimmy John’s.
JK&T owns 42 Buffalo Wild Wings locations in Michigan as well as some in Massachusetts and Louisiana.
“ICV has the financial and operational resources to help us grow the company and, importantly, they understand and share our passion for the BWW brand, whose quality food combined with customer experience are the cornerstone of our success,” says Kent Ward, CEO of JK&T. “We are very excited by the new leadership initiatives that Inspire is incorporating into this iconic brand, and we look forward to having ICV as partners to help drive our growth and enhanced performance.”
Ward and Brian Carmody, president of JK&T, will continue as investors in JK&T.
“This purchase marks an important step in the strategic plan laid out by ICV and management to create a powerful and even more successful Buffalo Wild Wings platform,” says Ira Moreland, managing director of ICV. “…Kent, Brian, and their team have built a strong and profitable company, and we look forward to partnering with them and their executive team to grow the company and enhance their operations.”
Plans include remodeling certain facilities, opening more locations, and identifying potential acquisitions of other franchisees.
ICV was founded in 1998.