Daily News: January 9, 2019

Golub Provides Debt Facility to Support J.H. Whitney Firebirds Buyout


Golub Capital served as administrative agent, sole bookrunner and sole lead arranger on a GOLD facility to support J.H. Whitney Capital Partners’ majority buyout of Firebirds Wood Fired Grill.

Founded in 2000 and based in Charlotte, NC, Firebirds is a contemporary-polished casual restaurant group which owns and operates nearly 50 locations across 19 states with an emphasis on classic American cuisine. The restaurants feature an exposed kitchen with a signature wood-burning grill is known for its seasoned wood-grilled steaks and seafood, gourmet burgers and oversized salads.

This is the eleventh deal Golub Capital has closed with J.H. Whitney across seven companies, dating back to 2011. Firebirds has been a portfolio company of Golub Capital since 2013.

“In helping to build J.H. Whitney’s vision for Firebirds’ future, we continue to support the company’s growth,” said Matt Fulk, Golub managing director. “Our longstanding relationship with both parties leads us to believe this is an excellent match and we look forward to their next chapter.”

“Being one of the first U.S. private equity firms, we have worked with numerous lenders in the past and can say Golub Capital is one of the most reliable and professional firms we have worked with,” said Aaron Pomeroy of J.H. Whitney. “Their deep expertise in the restaurant industry combined with their preexisting relationship with Firebirds made them the ideal partner for this transaction.”

GOLD financings are Golub Capital One-Loan Debt facilities.

Established in 1946 by industrialist and philanthropist John Hay Whitney, J.H. Whitney was one of the first U.S. private equity firms and is often credited with pioneering the development of the private equity industry. Today, JHW remains focused on providing private equity capital to small and middle market companies with strong growth prospects in a number of industries including healthcare, consumer, and specialty manufacturing.