Cave Creek Capital Management has led an acquisition of QK Holdings LLC, the largest Denny’s franchisee in the United States. No financial terms were disclosed. Co-investors include Stewart Capital and Seacoast Capital. Senior lenders were GE Capital, National Bank of Arizona and Alliance Bank of Arizona.
First Reserve has agreed to acquire Utility Services Associates, a provider of maintenance, repair, rebuild and construction services for power transmission and distribution infrastructure in the Eastern U.S. No financial terms were disclosed for the deal, though which company management will retain an equity interest. www.firstreserve.com
TDR Capital has agreed to acquire UK health club chain David Lloyd Leisure. No financial terms were disclosed, but Reuters reports a sale price north of £700 million. www.davidlloydleisure.co.uk
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