As we begin 2021 hopeful for a better and brighter year for the restaurant industry, our team at Black Box Intelligence™ has some exciting news to share. This week, we completed a transaction with Diversis Capital, a Los Angeles-based buy-out firm focused on software and technology-enabled organizations. This transaction will supply our team with a significant investment of growth capital and additional operational expertise.
This transaction facilitates deeper investments into our team and technology so that we can amplify our capacity to serve all our industry stakeholders. Black Box Intelligence will continue to provide you with unparalleled data and benchmarks and we will be stronger than ever in our mission to reveal insights.
The team and I are incredibly grateful to our founders, Joni Thomas and Wallace Blair Doolin. The foundation they have built over the past 25 years has enriched the lives of all of us and of so many in the restaurant industry. We are honored to continue their mission and are thrilled they will remain involved in the business as investors, advisors and members of the board.
Finally, we are immensely thankful for our clients, partners and those that have supported us along the way. We promise to continue pursuing new ways to expand our offerings and improve our value for restaurant operators and the industry. We are excited to bring you along for the ride and help you unlock your fullest potential.
Read below for the official press release, hot off the press. Please feel free to reach out if you have any questions.
Happy New Year!
President & CEO
Black Box Intelligence™
Black Box Intelligence™ Receives Significant Growth Investment from Diversis Capital
Dallas, TX – January 8, 2021 – Black Box Intelligence™, the leader in data and actionable insights for the restaurant industry, announced today that it has received a significant growth investment from Diversis Capital Partners, a Los Angeles-based buy-out firm focused on software and technology-enabled organizations.
“This is an exciting day for our employees, clients, partners and the industry at large,” said Kelli Valade, President & CEO of Black Box Intelligence. “Our new partnership with Diversis enables us to accelerate investments in our team and technology that will further our mission of revealing new insights to our clients that unlock their potential while enriching the lives of those that work in or support the restaurant industry.”
Black Box Intelligence has supported the restaurant industry with superior data and insights for more than 25 years. Harnessing a network of nearly 300 restaurant companies, the Black Box Intelligence platform enables clients to connect the dots between restaurant unit financial performance, workforce trends and benchmarks, unit-level guest feedback and consumer intelligence.
“Diversis has had tremendous success investing in technology businesses that support the restaurant industry,” said Kevin Ma, Managing Partner of Diversis Capital. “Black Box Intelligence has everything we’re looking for in a successful platform – a highly unique and unmatched product offering, a management team of recognized industry thought leaders and a strong and loyal customer base. We were particularly impressed by the fact that CEOs of many major restaurant brands not only know Black Box Intelligence but are themselves active users of the product on a daily or weekly basis.”
The transaction with Diversis will supply growth capital and operational expertise to Black Box Intelligence’s platform capabilities, enabling it to penetrate new and existing segments of the broader foodservice industry. Additionally, the founders of Black Box Intelligence, Wallace Blair and Joni Thomas Doolin, will remain involved in the business as investors, strategic advisors and members of the board.
“As proud founders of the Black Box Intelligence brand and team, Joni and I could not be more excited about this partnership with Diversis to accelerate our growth and capacity to serve all of our stakeholders in the restaurant industry,” said Wallace Blair Doolin, Chairman and Co-founder of Black Box Intelligence.
In a related transaction, Diversis acquired ArrowStream, Inc, the leading cloud-based provider of end-to-end supply chain management software for the foodservice industry and during its four-year ownership of the founder-owned business invested in the company’s technology platform to enhance its functionality and broaden its presence in the foodservice industry prior to its sale in December 2020.
About Black Box Intelligence™
Black Box Intelligence™ (formerly TDn2K) is the leading data and insights provider of workforce, guest, consumer and financial performance benchmarks for the hospitality industry. The Black Box Intelligence product suite is the industry standard for operators seeking to achieve best-in-class performance results. With the largest and most reliable set of real restaurant data in the marketplace, Black Box Intelligence currently tracks and analyzes nearly 300 brands, 2.4 million employees, 50,000 restaurant units and $76 billion in annual sales revenue. Black Box Intelligence is also the producer of the Global Best Practices Conference held annually in Dallas, Texas. To learn more, please visit www.blackboxintelligence.com.
About Diversis Capital
Founded in 2013, Diversis is a software and technology focused private equity fund that invests in lower middle-market companies, targeting situations where it can add unique value in helping a company reach the next level. With a collaborative approach to investing, its Operating Partners and Strategic Advisors work alongside management teams to help build successful organizations positioned for long-term growth. To learn more, please visit www.diversis.com.