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Dave & Buster's Sold for $570M

DALLAS-Oak Hill Capital Partners has inked an agreement to acquire Dave & Buster's Inc. for $570 million.

By Jennifer Duell Popovec | Updated on May 04, 2010

DALLAS-Oak Hill Capital Partners has inked an agreement to acquire Dave & Buster’s Inc. for $570 million. The New York City-based private equity firm, whose lead investor is Robert Bass, is taking ownership from another private equity firm, Wellspring Capital Management, LLC, which acquired the company in 2006. The transaction, which is subject to regulatory approvals, is expected to close in the second quarter 2010.

Dallas-based Dave & Buster’s owns and operates 56 restaurant/entertainment venues across the nation, providing customers with opportunity to “Eat, Drink & Play®” all in one location. Founded in 1982, Dave & Buster’s offers a full menu of food and beverage items combined with an assortment entertainment attractions including video games, interactive simulators and other games of skill.

Dave & Buster’s currently has stores in 24 states and Canada. Oak Hill Capital is investing in partnership with Dave & Buster’s current management team, led by CEO Steve King.

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