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Home » Releases » Business / economics » GE Capital Lends $45 Million to Largest McAlister s® Deli Franchisee The Saxton Group
GE Capital Lends $45 Million to Largest McAlister s® Deli Franchisee The Saxton Group
Published: 23-Feb-2015 12:43 pm
Publisher: GE Oil & Gas
SCOTTSDALE, AZ, FEB. 19, 2015 — GE Capital’s Franchise Finance business announced today that it served as administrative agent on a $45 million senior secured credit facility to The Saxton Group, the largest McAlister’s Deli® franchisee. GE Capital Markets served as sole lead arranger and sole bookrunner.
The Dallas-based company, which was founded in 1982, has grown its McAlister’s business from one store in 1999 to 61 locations today spread across Texas, Oklahoma, Kansas and Missouri. The company used the funds to refinance existing debt, redeem outstanding privately-held shares and buy out minority shareholders; the remaining capital will be used for growth.
McAlister’s is a fast casual restaurant chain known for providing a genuine hospitality guest experience and a menu of American regional favorites featuring sandwiches, spuds, soups, salads, desserts and McAlister’s Famous Sweet Tea™. In total, the McAlister’s system, which is approximately 85% franchised, is comprised of 338 restaurants in 24 states.
“We plan to actively expand the McAlister's Deli brand so it’s important to us to have a lender that understands the restaurant industry and has the ability to help us grow at a rapid pace so we can continue to provide value to our guests, our people and our shareholders,” said Kelly Saxton, CEO and chairman.
“The Saxton Group’s focus on operational excellence and the customer has delivered strong financial performance up to this point,” said Bill Kraus, a senior managing director with GE Capital, Franchise Finance. ”We recognize the company’s dynamic growth potential and look forward to being a part of their success story going forward.”
About GE Capital, Franchise Finance
With more than 30 years of experience and approximately $6 billion in assets, GE Capital, Franchise Finance is a leading lender for the U.S. franchise finance market via direct sales and portfolio acquisitions. It specializes in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Its team of industry experts helps them realize their individualized growth plans. GE Capital, Franchise Finance customers also receive access to its proprietary industry research and cutting-edge digital tools. For more information, visit www.gefranchisefinance.com or follow company news via Twitter.
GE Capital offers customers around the globe an array of financial products, services and insights to help them grow their businesses. For more information, visitwww.gecapital.com or follow company news via Twitter.
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
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