Monroe Moxness Berg served as a legal advisor to Corlex Capital, a minority-owned private equity and consulting firm, in its acquisition, in partnership with Prospect Capital Restaurants, of 10 Wingstop restaurants in two markets. Corlex also signed an agreement with Wingstop Inc. to develop or acquire an additional 13 restaurants.
Since 2019, Corlex has provided third-party operational management and consulting services to the quick service restaurant industry. With a track record of driving incremental sales and operational efficiency, Corlex joins the Wingstop system by acquiring five Wingstop restaurants in Indianapolis and four restaurants in Boston.
The acquisition of the first nine restaurants closed late last year, and another location in Indianapolis was added to the portfolio on January 6. Corlex and its partners have signed a development deal to open another 13 restaurants in the Boston metropolitan area over the next 3 years.
See the full press release in QSR.