Comvest Credit Partners acted as administrative agent in providing an $80 million senior secured credit facility to P.J. Whelihan’s Restaurant Group, a Haddonfield, NJ-based restaurant operator. The financing was used to support the acquisition of P.J. Whelihan’s Restaurant Group by Garnett Station Partners.
Founded in 1983, P.J. Whelihan’s Restaurant Group owns 26 restaurants across six brands in Pennsylvania and New Jersey. The majority operate as P.J. Whelihan’s Pub and Restaurant, a chain of American bar-and-grill-themed sports bars with 19 locations. P.J. Whelihan’s Restaurant Group’s other dining concepts, which range from casual Italian to high-end steakhouse eateries, include The Pour House, Treno Pizza Bar, The ChopHouse, The ChopHouse Grille and Central Taco and Tequila.
“Comvest is excited to support PJW’s growing family of popular restaurant brands. All focus on great food, an inviting ‘neighborhood feel’ and community impact,” Nick McClelland, a principal at Comvest Credit Partners, said. “We leveraged Comvest’s considerable expertise and resources in the restaurant sector to structure a flexible financing solution, enabling PJW to capitalize on organic and inorganic growth opportunities in its continued expansion.”
“PJW represents another successful transaction between Comvest and Garnett Station Partners in the restaurant space, a sector to which Comvest remains committed and active,” Dan Lee, a partner at Comvest Credit Partners, said. “We look forward to further building our relationship in support of PJW’s continued growth.”
