Financing Obtained by BARS Program from Sound Growth Partners

Sound Growth Partners Announces Majority Recapitalization of BARS

Sound Growth Partners (SGP), a Seattle-based private equity firm, has announced its majority recapitalization of BARS, the leading provider of in-store, ID check compliance services for convenience and grocery stores in the U.S. and Canada.

Founded in 1997, BARS has built a reputation for its unique and valuable service, which has been appreciated by SGP. The partnership between BARS and SGP involves David Gaudet and Richard Wright, who are the new partners of BARS at Sound Growth Partners.

Travis Steele, a Partner at SGP, expressed his optimism about the future of BARS. He said, "We are excited about the future at BARS. Their service is not only unique but also highly valuable, and we are thrilled to partner with their leadership."

The capital required to complete the transaction was provided by SGP using its One-Stop Buyout structure. SGP provided all the capital needed, ensuring a smooth transition for BARS.

BARS, based in Lakewood, CO, has a mission-driven philosophy and provides high-quality service. The company's goal is to ensure its customers serve consumers responsibly. Over the years, BARS has provided its service to tens of thousands of locations across the country.

SGP invests in companies with $2 million to $15 million of EBITDA in niches within the Consumer Products, Business Services, Distribution, and Light Manufacturing industries. The firm's investment in BARS underscores its commitment to supporting companies that make a positive impact in their respective industries.

Travis Steele's sentiment about the partnership was further emphasized in his quote. He said, "We are looking forward to partnering with David Gaudet and Richard Wright at BARS. We believe this partnership presents a great opportunity to grow and improve BARS' service offerings."

The partnership between SGP and BARS marks an exciting new chapter for both companies. As BARS continues to grow and expand its service offerings, it will undoubtedly continue to make a positive impact in the convenience and grocery store industry.