Golub Capital Provides One-Loan Debt Facility to Support the Buyout of Firebirds Wood Fired Grill by J.H. Whitney & Co.
NEW YORK, Jan. 8, 2019 /PRNewswire/ — Golub Capital recently announced that, as Administrative Agent, Sole Bookrunner and Sole Lead Arranger, it provided a GOLD facility to support the majority buyout of Firebirds Wood Fired Grill (“Firebirds” or “the Company”) by J.H. Whitney Capital Partners, LLC (“J.H. Whitney”). GOLD financings are Golub Capital One-Loan Debt facilities.
Founded in 2000 and based in Charlotte, North Carolina, Firebirds is a contemporary-polished casual restaurant group which owns and operates nearly 50 locations across 19 states with an emphasis on classic American cuisine. The Company offers guests a unique dining experience, featuring an exposed kitchen with its signature wood-burning grill and its award-winning FIREBAR®. The restaurant is known for its welcoming décor and expertly seasoned wood-grilled steaks, freshly grilled seafood, gourmet burgers and oversized salads, as well as an extensive menu of seasonal cocktails and fine wine. Firebirds targets guests seeking a high-end dining experience at a casual dining price.
This is the eleventh deal Golub Capital has closed with J.H. Whitney across seven companies, dating back to 2011. Firebirds has been a portfolio company of Golub Capital since 2013.
“In helping to build J.H. Whitney’s vision for Firebirds’ future, we continue to support the company’s growth,” said Matt Fulk, Managing Director at Golub Capital. “Our longstanding relationship with both parties leads us to believe this is an excellent match and we look forward to their next chapter.”
“Being one of the first U.S. private equity firms, we have worked with numerous lenders in the past and can say Golub Capital is one of the most reliable and professional firms we have worked with,” said Aaron Pomeroy of J.H. Whitney. “Their deep expertise in the restaurant industry combined with their preexisting relationship with Firebirds made them the ideal partner for this transaction.”
About Golub Capital Middle Market Lending
Golub Capital’s Middle Market Lending group provides financing for middle market, private equity-backed transactions with hold positions of up to $600 million and is an arranger of credit facilities up to $1 billion. Golub Capital’s award-winning team specializes in delivering reliable, creative and compelling financing solutions to U.S. middle market companies backed by private equity sponsors.
Golub Capital is a market-leading, award-winning private debt platform with over $25 billion of capital under management. The Middle Market Lending team has particular domain expertise in select industries, including software, technology services, healthcare, consumer and restaurant and retail. The firm’s credit expertise also forms the foundation of its Late Stage Lending business and its Broadly Syndicated Loan investment program. Across its activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from its private equity sponsor clients and investors. Founded in 1994, Golub Capital today has over 350 employees and lending offices in Chicago, New York and San Francisco. For more information, please visit golubcapital.com.
About Firebirds Wood Fired Grill
Firebirds Wood Fired Grill, a contemporary-polished restaurant, is an energetic twist on the traditional grill featuring a boldly flavored, classic American menu in an inviting, fire-centric atmosphere. Signature menu items include hand-cut, aged steaks and fresh seafood hand-fileted in-house and seared over locally sourced hickory, oak or pecan wood in Firebirds’ scratch kitchen and exposed wood-fired grill. The open, stylish, enticing décor incorporates wood-fired themes and entertaining spaces, such as the outdoor patio with seasonal comforts and the award-winning FIREBAR®. Popular specialties include Wine Down Mondays, happy hour, artisan cocktails, craft beer, bourbon, after dinner drinks and Firebirds’ private label wine. In keeping with its mission, “To Serve, Enrich and Exceed,” Firebirds supports ever-growing sustainability efforts throughout its restaurants and partners with Alex’s Lemonade Stand Foundation, with more than $1.4 million raised for childhood cancer research through the sale of fresh-squeezed lemonade. Visit firebirdsrestaurants.com to become a member of Firebirds’ Inner Circle, make an OpenTable reservation or order ToGo online.
About J.H. Whitney
J.H. Whitney, established in 1946 by the industrialist and philanthropist, John Hay “Jock” Whitney, was one of the first U.S. private equity firms and is often credited with pioneering the development of the private equity industry. Today, JHW remains privately owned by its investing professionals and our main activity is to provide private equity capital to small and middle market companies with strong growth prospects in a number of industries including healthcare, consumer, and specialty manufacturing. Visit: http://www.whitney.com.
SOURCE Golub Capital