Sizzling Platter LLC, a concept restaurant operator backed by Valor Equity Partners, has agreed to acquire a Salt Lake City-based 51-unit Little Caesars Pizza franchisee. The deal is being financed by $58 million from GE Capital Solutions, in the form of a senior-term loan and a revolving line of credit. Get more info.
PRESS RELEASE
Sizzling Platter, LLC., a multi-concept operating company with 37 restaurants, is refinancing existing debt, developing new units, and acquiring a Salt Lake City-based 51 unit Little Caesars Pizza franchisee with a senior-term debt loan and revolving line of credit from GE Capital Solutions, Franchise Finance.
Acquired by private equity firm Valor Equity Partners in June 2006, the Sizzling Platter portfolio includes Sizzler Steakhouse, Red Robin Gourmet Burgers, Ruby River Steakhouse, Spaghetti Mama's, and Hopper's. With the $58 million in financing provided by GE Capital Solutions, Franchise Finance, Valor Equity Partners is investing across the concepts to grow Salt Lake City-based Sizzling Platter in
“GE Capital Solutions, Franchise Finance worked closely with us to develop financing to help Sizzling Platter continue its growth,” says Ted Morton, chief executive officer, Sizzling Platter.
GE Capital Solutions, Franchise Finance prides itself on providing effective as well as flexible financing solutions to companies looking to improve their businesses and create strong opportunities for growth.
“Providing businesses the resources they need to grow is what we do best,” says Bill Kraus, senior vice president, GE Capital Solutions, Franchise Finance. “We are excited to build a strong relationship with Valor as well as Sizzling Platter, and look forward to helping them grow in the future.”
GE Capital Solutions, Franchise Finance is a leading lender serving customers in the restaurant, hospitality, branded beverage, automotive after-market, and power sports industries. It provides financing to help franchisees and franchisors grow, compete, and prosper. It offers access to capital through a diverse array of flexible financing options, including funds for purchasing real estate and equipment, new construction and remodels, acquisitions, and refinancing.
About GE Capital Solutions, Franchise Finance
GE Capital Solutions, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $14 billion in served assets, we serve more than 6,000 customers and more than 20,000 property locations, primarily in the restaurant, hospitality, branded beverage, power sports and automotive after-market industries. We offer customers access to capital with a menu of products featuring flexible structuring, including financing for acquisitions, refinancing, construction of new units and remodels for single- and multi-unit operators/chains. More information is available at www.gefranchisefinance.com or by calling toll-free 866-GET-GEFF (438-4333).
GE Capital Solutions provides leasing, lending, and capital investment products and services to help business customers grow. It has more than $90 billion in assets, serves more than a million clients around the world, and is headquartered in
GE (NYSE: GE: 34.98, +0.61, +1.77%) is Imagination at Work — a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
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