Inside the deal- John Devries of Transworld comments on the sale of Mulligan's Beach House Bar & Grill

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May 31, 2016, 09:00 ET

JENSEN BEACH, Fla., May 31, 2016 /PRNewswire/ -- JPB Capital Partners recently acquired a majority interest in Mulligans Beach House Bar and Grill headquartered in Stuart, Florida. George Hart the founder of Mulligans, had grown his business from one location in Ft Lauderdale to six locations on the east coast of the state over the past 19 years.

The concept worked well up and down the Treasure coast and George realized that Mulligans could expand much more quickly with help from a partner. Mr. Hart wanted a strategic buyer that could take his concept nationally and internationally.

He knew who to turn to, Transworld Business Advisors' Agent John DeVries. DeVries was able confidentially market worldwide to selectively find a particular strategic buyer that fit the bill.

After a few short weeks of searching, Mr DeVries facilitated several meetings with top investors from all over the world that created an interviewing process which Mr Hart could selectively choose the right buyer and terms for his business.

After negotiations with publicly traded companies, Private Equity Groups and Private Investors, JPB's offer was chosen. DeVries then assisted with every aspect of the transaction until both parties were able to accomplish their goals. After the closing Hart was quoted, "We are going to open Mulligans all over the state of Florida in the next four or five years."

"Mulligan's is a great investment," said Greg Carey, JPB's managing director. "The plan is to grow it, which takes some time." Terms of the transaction were not disclosed but Carey said Hart still owns a "significant piece of the company."

Devries added "This was a complicated deal with a lot of moving parts. It required the right buyer with industry knowledge and the resources to get the deal done. Having overseen over 150 transactions in my career and with Transworld's global reach, we were able to a great buyer at the right price and terms for George."

About Transworld Business Advisors

Transworld Business Advisors is the premier business brokerage firm in Florida and now a worldwide franchisor. Established in 1979, the company is headquartered in West Palm Beach, FL. with over 100 offices throughout the USA. The company specializes in a wide range of industries including manufacturing, distribution, service, technology, and retail businesses. Currently, the company boasts a staff of 300 agents and more than 3000 business listings, making it one of the largest brokerage firms in the country. For more information, visit the web site at www.tworld.com.

About John Devries

Mr. Devries has been with Transworld for over 10 years and is one of the top producers over his tenure with the firm. Notably John was 2005 Rookie of the year, Presidents Club winner 2005-2016, Million Dollar Award winner 2005-2016, Top Deal Maker award winner 2012-2016, #1 Top Producing agent in Florida 2012-2015 and Gold Cup award winner. He often specializes in the hospitality and service sectors, business sales, mergers and acquisitions.

SOURCE Transworld Business Advisors