Comvest Credit Partners is acting as administrative agent on a $185 million senior secured credit facility for Firebirds Wood Fired Grill, a North Carolina-based restaurant chain operator. The financing will support the acquisition of the company by private equity firm Garnett Station Partners and fund ongoing business growth.
Founded in 2000, Firebirds is a casual dining chain with 56 locations across 20 states nationwide.
“Firebirds is an established, high-performing and fast-growing brand in the casual dining sector,” Dan Lee, partner at Comvest, said. “As a committed and active credit investor in leading niche restaurant concepts, Comvest was pleased to deliver a sizable financing solution in support of Firebird’s continued expansion.”
“We look forward to working again with Garnett Station Partners, an experienced, restaurant-focused private equity sponsor with a demonstrated record in the restaurant space,” Nick McClelland, a managing director at Comvest, said.
“Firebirds is one of several successful restaurant transactions that Garnett Station Partners has closed with Comvest in the past few years,” Howard Norowitz, partner at Garnett Station Partners, said. “Our partnership with Comvest stems from their deep sector knowledge and their ability to deliver responsive direct financing solutions under tight timelines and with the certainty of closure.”
