Capital Infusion Supports Upgrades of Existing Businesses
SCOTTSDALE, Ariz.--(Business Wire)--
With the help of GE Capital Solutions, Franchise Finance and LRG
Capital Group, Lyons Group Ltd. enhances the look of their existing
businesses with a three part financing agreement totaling $5.8
million. The financing combines $3.6 million to refinance existing
debt, a $500,000 development line of credit for upgrades to their
"Game on" Fenway location, and a second $1.7 million straight loan to
construct a new restaurant, or transition an existing location to one
of their growth concepts.
"Lyons Group and LRG Capital Group came to us because of our
valuable experience dealing with businesses with unique and complex
ownership structures, as well as our extensive industry knowledge,"
says Todd Cortell, senior vice president, GE Capital Solutions,
Franchise Finance. "It's a pleasure working with such an experienced
and well established company to develop a capital structure that
allows them to improve their flagship "Game on" Fenway locations and
to expand their other signature concepts."
"Working with GE Capital Solutions, Franchise Finance allows us to
improve our cash flow, offering the operating flexibility we
need," says David Joaquin, CFO, Lyons Group, Ltd. "They have
consistently gone above and beyond what is expected. Access to capital
allows us to continue growing our concepts. Plenty of lenders offer
funding, but they do not offer the flexibility needed several years
down the road as we grow. We consider GE Capital Solutions, Franchise
Finance a key contributor in the growth of the Sonsie, Game On, King's
Bowl, Lucky's Lounge, and Irish Bar brands."
Lyons Group, Ltd. is headquartered in Boston, Mass. and owns and
operates multiple hospitality and restaurant concepts. Their portfolio
of venues includes Sonsie Restaurant, Lucky's Restaurant and Lounge,
and "Game on" Fenway, one of their most well-known restaurants,
located in historic Fenway Park.
LRG Capital Group is a global investment, banking and advisory
boutique that focuses on public and private companies in the
technology, life sciences, hospitality, real estate, and entertainment
sectors. The firm provides capital via private equity, commercial
loans, and structured debt financing, and guides and advises clients
on mergers and acquisitions, corporate finance advice and other
strategic alternatives. Headquartered in San Francisco with offices in
New York and Miami, LRG Capital Group excels at relationship-focused
guidance and financing.
GE Capital Solutions, Franchise Finance is a leading lender
serving customers in the restaurant, hospitality and branded beverage
industries. It provides financing to help franchisees and franchisors
grow, compete, and prosper. It offers access to capital with a diverse
array of flexible financing options, including funds for purchasing
real estate or equipment, new construction or remodels, acquisitions,
or refinancing.
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 $13 billion in
served assets, we serve more than 5,000 customers and more than 22,000
property locations, primarily in the restaurant, hospitality and
branded beverage 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).
GE Capital Solutions provides leasing, lending, and capital
investment products and services to help business customers grow. It
has more than $100 billion in assets, serves more than a million
clients around the world, and is headquartered in Danbury,
Connecticut, USA. For more on GE Capital Solutions, go to
www.ge.com/capitalsolutions.
GE (NYSE: GE) is Imagination at Work -- a diversified technology,
media and financial services company focused on solving some of the
world's toughest problems. With products and services ranging from
aircraft engines, power generation, water processing and security
technology to medical imaging, business and consumer financing, media
content and advanced materials, GE serves customers in more than 100
countries and employs more than 300,000 people worldwide. For more
information, visit the company's Web site at www.ge.com.
Arment Dietrich, Inc.
Morgan Smith
(312) 787-7249
msmith@armentdietrich.com
or
GE Capital Solutions, Franchise Finance
Christine Roe
(480) 563-6260
christine.roe@ge.com
Copyright Business Wire 2008
