They're on my lifetime ban list after PE ruined their menu.

Tim Hortons is part of $RBI [1] and not private equity.

[1] https://en.wikipedia.org/wiki/Tim_Hortons

They are (were?) 51% owned by Brazilian private equity group 3G Capital which in turn owns 1/3 of RBI: https://en.wikipedia.org/wiki/3G_Capital

Ah, here it is:

https://www.rbi.com/English/news/news-details/2014/Worlds-Th...

> 3G Capital to own approximately 51% of new company