Condado Tacos, a Columbus-headquartered taco joint, is partnering with The Beekman Group LLC, a private equity firm based in New York City, for its next chapter of growth. The build-your-own taco concept plans to use the funds to optimize its expansion into new markets.
This partnership creates opportunities for Condado to expand into new markets beyond its Midwest roots and grow in its existing communities. Condado also plans to further invest in the professional development of its team members.
“The Beekman Group’s strong track record of success, coupled with their warmth and sincerity — both in seeking to understand Condado as well as committing to what makes the concept unique — made them the obvious choice for an investment partner,” Condado founder and CEO Joe Kahn said, in a statement.
With 15 locations in six markets across four states, Condado plans to expand nationally. The company’s growth goals include adding six to eight new restaurants annually. Each location will continue to highlight the local community through the brand’s distinct and vibrant street-art decor. In 2020, Condado will open seven new locations, including entering a new market in Dayton, and adding a second location in Detroit.
Dedicated to partnering with management teams to grow companies into market-leading businesses, Beekman manages more than $800 million of capital and has access to additional capital through strategic co-investment relationships. Beekman focuses on lower middle market investments in service-related sectors, including consumer, health care and business services.
BMO Capital Markets advised Condado on the transaction, while Calfee, Halter & Griswold LLP provided legal counsel. The Beekman Group was represented by Akerman LLP.