SOURCE: Cratos Capital Partners

November 12, 2007 11:12 ET

Cratos Capital Partners and GE Capital Solutions, Franchise Finance Provide $50 Million Senior Secured Financing for Restaurants Unlimited, Inc.

ATLANTA, GA--(Marketwire - November 12, 2007) - Cratos Capital Partners, LLC announced today that it has closed on a $50.0 million senior credit facility for Restaurants Unlimited, Inc. ("RUI"), a portfolio company of Sun Capital Partners, Inc. Cratos served as the Administrative Agent and Joint Lead Arranger for the facility. GE Capital Solutions, Franchise Finance served as the Documentation Agent and Joint Lead Arranger.

The facility consists of a $10.0 million revolver and $40.0 million term loan. Proceeds under the facility were used to support the acquisition of Restaurants Unlimited, Inc. and Pacific Coast Restaurants earlier this year and for ongoing working capital needs.

Anthony Polazzi, a Vice President at Sun Capital, stated, "Cratos and GE stepped up and delivered significant commitments in support of Restaurants Unlimited in an uncertain market. Due to their support we were able to close on a facility that provides the flexibility needed to grow the company at a reasonable cost."

About RUI

Restaurants Unlimited, headquartered in Seattle, Washington, is a premier operator of high volume, upscale restaurant concepts across the United States. RUI purchased the Portland, Oregon-based Pacific Coast Restaurants ("PCR") in July 2007 to complement its platform, as PCR operates in the upscale-casual dining sector. On a combined basis, Restaurants Unlimited operates 58 restaurants across 13 states with a predominant presence in the Pacific Northwest. RUI's concepts include Kincaid's Fish Chop & Steakhouse, Palomino, Stanford's Restaurant & Bar, Newport Bay, Newport Seafood Grill and several other individually branded restaurants.

About Cratos Capital Partners, LLC

Cratos Capital is a commercial finance company established in May 2006 to provide tailored senior and junior debt solutions to middle market companies on a national basis. The company provides cash flow, asset-based and enterprise value loans to mid-sized companies, with commitments ranging from $10 million to $100 million and greater. To date, Cratos Capital has funded 62 transactions representing over $850 million in commitments. Cratos Capital is financed by an affiliate of Deutsche Bank and Flat Hat Holdings, LLC and is headquartered in Alpharetta, GA, with satellite offices in Charlotte, NC and Chicago, IL. For more information, please visit www.cratoscapital.com.

About GE Capital Solutions, Franchise Finance

GE Capital Solutions, 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 6,000 customers and more than 20,000 property locations, primarily in the restaurant, hospitality, branded beverage, power sports, and automotive after-market industries. We offer customers access to capital with a menu of products featuring flexible structuring, including financing for acquisitions, refinancing, construction of new units, and remodels for single- and multi-unit operators/chains. More information is available at www.gefranchisefinance.com or by calling toll-free 866-GET-GEFF (438-4333).

About Sun Capital Partners, Inc.

Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 170 companies worldwide with combined sales in excess of $35.0 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen. For more information, please visit www.suncappart.com.

Contact Information

  • For more information, please contact:
    Craig Kitchin
    Chief Financial Officer
    Cratos Capital Partners, LLC
    (678) 392-3150
    Email Contact