BD’s Mongolian Grill Plans Expansion After Selling

MLive.com:

Ferndale-based bd’s Mongolian Grill plans to double in size in the next few years, after the leader in the ‘Asian grill’ restaurant segment sold to New York private equity firm Kinderhook Industries LLC.

Kinderhook partnered with Rodger Head and Clyde Culp to acquire the privately owned Mongolian Grill. Head and Culp also own and operate Duke and King, a 97-unit Burger King franchise in Minneapolis, the sixth largest Burger King franchise in the United States.

‘Over the last year we were trying to figure out a way to accelerate our growth,’ said Billy Downs, who founded bd’s in 1992. ‘We spent most of the last year pursuing partnership arrangements.’

Downs found the right fit in Kinderhook, which has approximately $500 million in placed funds and 15 companies in its portfolio, Head said.

The acquisition will enable bd’s Mongolian Grill to pursue an aggressive growth plan, by capitalizing on management’s franchising and brand expertise.