Generational Capital Markets Advises Ponder Enterprises in Sale to Phase Three Star

By Capital Markets


Generational Capital Markets, Member FINRA/SIPC and a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Ponder Enterprises Inc. and Ponder Brothers LLC, to Phase Three Star LLC. The acquisition closed December 26, 2018.

Ponder Enterprises Inc. and Ponder Brothers LLC, headquartered in a Donaldsonville, Georgia, operate 38 Hardee’s restaurant locations throughout Georgia, northern Florida and Alabama. Brothers Dan and Ernest Ponder founded the company in 1983 and each had 25 years of franchise restaurant business experience.

The buyer, Phase Three Star LLC, is the largest Hardee’s franchisee in Florida. Based in Tampa, Phase Three is also a Wingstop franchisee.

Generational Capital Markets Managing Director Chris Heckert, with support from VP Julio Dominguez, successfully closed the deal. Generational Equity Senior Managing Director Joe Van Voorhis established the initial relationship with Ponder.

“This was an exciting acquisition to be a part of,” said Heckert. “Both groups were well-known leaders in the QSR space and the combination will make for a significant player in the industry and region.”

About Generational Capital, LLC

Generational Capital, LLC, is a Dallas, Texas-based merger and acquisition advisory firm. Generational Capital wholly owns Generational Capital Markets, Inc., Member FINRA/SIPC. More information can be found at

Generational Capital and Generational Capital Markets are part of the Generational Group and are affiliated with Generational Equity, LLC, which The M&A Advisor named Investment Banking Firm of the Year in 2016, 2017, and 2018.

GCM's most recent awards include The M&A Advisor's 2018 International Deal of the Year Awards in the professional services, corporate/strategic and private equity categories.

About Generational

Headquartered in Dallas, Generational is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 17 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit