Private Equity Firm Purchases Saladworks

Restaurant chain's management team expected to remain in tact.

New York-based Centre Lane Partners LLC has acquired Saladworks, a freshly tossed salad concept. In announcing the deal, the private equity firm said it plans to invest "substantial capital to accelerate the company's growth nationwide, with a strategic focus along the I-95 corridor."

Centre Lane's investment portfolio includes leading middle market companies in industries ranging from packaging to consumer products manufacturing, franchising and global aviation services.

Saladworks' management team will remain with the 29-year old restaurant concept. This includes promoting Paul Steck, Saladworks president, to president/CEO.

The acquisition follows a four-month search for a buyer after Saladworks filed for Chapter 11 bankruptcy reorganization in February 2015.

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