Golub backs TSCP’s acquisition of Freddy’s

Golub Capital has provided financing to back Thompson Street Capital Partners' acquisition of Kansas-based Freddy’s Frozen Custard & Steakburgers, a franchisor of fast casual restaurants.

Golub Capital has provided financing to back Thompson Street Capital Partners’ acquisition of Kansas-based Freddy’s Frozen Custard & Steakburgers, a franchisor of fast casual restaurants. No financial terms were disclosed. Golub Capital was the administrative agent, joint lead arranger and joint bookrunner on the financing.

PRESS RELEASE

NEW YORK, March 5, 2021 /PRNewswire/ — Golub Capital acted as the Administrative Agent, Joint Lead Arranger and Joint Bookrunner on a GOLD facility to finance Thompson Street Capital Partners’ (“TSCP”) acquisition of Freddy’s Frozen Custard & Steakburgers (“Freddy’s”). GOLD financings are Golub Capital One-Loan Debt facilities.

Freddy’s, a fast-casual restaurant concept, is known for its All-American menu of cooked-to-order steakburgers, hot dogs, shoestring fries and frozen custard. Freddy’s was founded in Wichita, KS and today has more than 360 franchised and company-owned restaurants across 32 states.

“We are excited to partner with TSCP on the Freddy’s transaction, which is in a sector we know well,” said Greg Cashman, Head of Direct Lending at Golub Capital. “Freddy’s has a strong franchise business and brand which, coupled with TSCP’s track record for success, make for a very compelling combination.”

“Golub Capital’s expertise in fast-casual restaurants made them an ideal financing partner for this transaction,” said Liz Borow, Managing Director at TSCP. “The GOLD financing gives us the scalability and flexibility to facilitate the continued growth of Freddy’s.”

About Thompson Street Capital Partners
Thompson Street Capital Partners is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses. TSCP has acquired more than 150 companies in the Healthcare & Life Science Services, Software & Technology Services and Business Services & Engineered Products sectors and has managed more than $2.6 billion since being founded in 2000. TSCP partners with management teams to increase value by accelerating growth, both organically and via complementary acquisitions.

About Golub Capital Middle Market Lending
Golub Capital is a market-leading, award-winning direct lender and credit asset manager, with over $35 billion of capital under management. Golub Capital’s Middle Market Lending group provides buy-and-hold financing for sponsor-backed transactions with hold positions of up to $700 million and arranges syndicated credit facilities up to $2 billion. The team specializes in delivering reliable, creative and compelling financing solutions to middle market companies.

Across its activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from its private equity sponsor clients and investors. Founded over 25 years ago, Golub Capital today has over 500 employees and lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.