PRZOOM - /newswire/ -
Scottsdale, AZ, United States, 2010/05/11 - GE Capital, Franchise Finance recently co-led the funding of a $36 million debt facility for the acquisition of Wingstop Restaurants, Inc. by an affiliate of Roark Capital Group, an Atlanta-based private equity firm specializing in franchising. NYSE: GE
Funding was provided through GE Capital, Franchise Finance's bank affiliate, GE Capital Financial, Inc.
“Being the incumbent lender to Wingstop and also having completed multiple deals with Roark, we have a strong relationship with both parties that made this an easy process,” says Robert Daniel, senior vice president at GE Capital, Franchise Finance.
Including Wingstop, Roark has now acquired 17 franchise/multi-unit brands, and has completed five acquisitions in the last six months.
“Wingstop is a leader in its category and well positioned for continued growth,” says Erik Morris, Managing Director, Roark Capital Group. “Wingstop fits perfectly into our portfolio and GE Capital was great to work with throughout the transaction.”
Founded in 1994 and headquartered in Richardson, Texas, Wingstop has more than 440 restaurants.
“We are excited about the acquisition and anticipate strong growth with the help of Roark’s strategic insight,” says Jim Flynn, CEO, Wingstop Restaurants, Inc. “With our management team staying in place, our growth plan also includes new opportunities for our current franchisees.”
Wingstop Restaurants, Inc. is a leading fast-casual concept in the chicken wings segment of the restaurant industry. The company generates more than $300 million in annual sales and is the tenth-fastest growing restaurant franchise concept in the US.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $14 billion in served assets, we serve more than 5,000 customers and more than 22,000 property locations. We provide financing for all your business needs. More information is available at gefranchisefinance.com or by calling 866-GET-GEFF (438-4333).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit ge.com.
Arment Dietrich, Inc.
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