Round Table Pizza has secured a senior secured credit facility with Summit Partners. Under the new facility, Round Table obtained a $32.5 million senior secured term note, plus the option of obtaining additional growth capital of up to $2.5 million.
FocalPoint Securities served as Round Table’s exclusive financial advisor in connection with the transaction.
Round Table is a chain of 450 pizza restaurants located throughout the western U.S. and internationally.
“This new credit facility provides us with the capital we need to execute our strategic business plan,” said Rob McCourt, Round Table’s CEO.
Keith Davis, CFO of Round Table, added, “We’ve accomplished our refinancing nine months ahead of schedule. We sought an advisor that not only had an understanding of the restaurant industry, but more importantly, that had deep experience in debt capital markets and was capable of providing our board with numerous options to refinance our existing indebtedness.”
Rajesh Sood, managing director at FocalPoint commented, “The management team at Round Table was instrumental in successfully navigating the business through the recession. We were pleased to be able to generate more than a dozen financing proposals and provide Round Table with a structure that maximized liquidity and flexibility.”
Summit Partners is a growth equity firm that invests in growing companies across North America, Europe and Asia.
FocalPoint is an independent investment bank that specializes in mergers and acquisitions, private placements (both debt and equity), and financial restructurings/work-outs.