PNC Riverarch Capital, a division of PNC Capital Finance, has sold its portfolio company Goldco to Seven Hospitality, a consortium of high-net-worth investors. Terms of the transaction were not disclosed.

Goldco is an operator of 46 Burger King restaurants in Southeast Florida, primarily in the Fort Lauderdale and Treasure Coast regions.

Investment professionals at PNC Riverarch Capital led the investment in Goldco in late 2012. Under the ownership of PNC Riverarch Capital, Goldco significantly expanded its footprint in Southeast Florida, implemented a sophisticated analytics platform for unit performance monitoring and optimization, and augmented the company’s management team. In August 2013, Goldco added additional scale and market presence with the acquisition of additional restaurant locations in the contiguous Treasure Coast region.

“PNC Riverarch Capital’s investment in Goldco is consistent with our strategy of investing in strong, well-managed companies with substantial growth opportunities,” said Mike Hand, managing director at PNC Riverarch Capital. “It was a privilege to work with Bennie Arbour and the Goldco team. We wish them continued success through Goldco’s next phase of growth.”

“The team at PNC provided unwavering support over the last four years,” said Bennie Arbour, CEO of Goldco. “PNC’s growth orientation, along with their contributions with respect to strategic planning and acquisition execution, helped guide the business to a successful outcome. We are exceptionally grateful for PNC’s dedication and support.”

The transaction for PNC Riverarch Capital was led by Mike Hand; Andrew Wiechkoske, director; David Poss, senior associate and Ian Garland, associate. Raymond James & Associates represented Goldco and acted as the company’s financial advisor for the transaction.

PNC Riverarch Capital is a middle-market private equity firm which invests in privately held companies headquartered in North America.