Palladium Equity Partners has sold Taco Bueno’s parent company TB Corporation to TPG Growth, the firm said.
Palladium initially acquired TB Corporation from Jacobson Partners in August 2005. Since that transaction, Palladium conducted a new brand campaign, an expansion of Taco Bueno in the Colorado market, an expansion of the senior team, a refurbishment of more than half of the company’s restaurant network and new product launches.
“We believe the company is well-positioned to enter its next phase of growth with significant momentum,” Palladium chairman and chief executive Marcos Rodriguez said.
A spokesman for Palladium declined to comment.
Ropes & Gray advised TPG Growth on the transaction.
Palladium has more than $2 billion in assets under management and seeks to buy and grow companies by primarily making buyout equity investments between $50 million and $150 million. It focuses on financial services, business services, food, health care, industrial and media businesses.
TPG Growth manages over $7 billion in assets.