Merchant Banking

Through our affiliate, Exeter Street Capital Partners, we sponsor merchant banking investments that fall outside the parameters of Patriot Capital primarily in the areas of buyouts and growth financings for special situations.





  • The Sandbox Group

The Sandbox Group is a full service marketing and advertising agency with operations across North America.  The Sandbox Group was formed by four agencies with decades of proven results, coming together to create a new, single agency with one purpose: to focus squarely on their clients, work, people and the collaborative ethos that ties it all together.  The agency offers strategic marketing, planning, and creative development, for all media and digital strategy solutions across various end markets.


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  • PF Growth Partners, LLC

PF Growth Partners is a leading Planet Fitness franchisee with locations in Maryland, Tennessee and Florida.  Exeter Street Capital Partners initiated and invested in the recapitalization of the company to support its new club expansion and to provide a distribution to shareholders.






PJNJ was a franchisee of Papa John’s Pizza that developed and operated 20 Papa John’s in southern New Jersey. The company was sold in 1999.


Through development and acquisitions in Pennsylvania, Delaware and New Jersey, PJPA owned and operated 53 Papa John’s. In 2013, PJPA sold its Papa John’s restaurants in Pennsylvania. The company currently owns and operates 23 Papa John’s in Delaware and New Jersey.

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  • Expert Plan

Expert Plan provides affordable retirement plan solutions to small employers through its innovative use of technology. Expert Plan was sold to Ascensus in 2012.




  • FGG, LLC

FGG, LLC, a franchisee of Hand & Stone Massage and Facial Spas, provides affordable professional massage, facial and hair removal services.

Investment Criteria

  • Geography: National
  • Company Size: $2 to 100 million in revenue
  • Investment Size: $2 to 50 million
  • Investment Structure: Minority or control equity