Richmond, VA - United Restaurant Group, L.P. ("URG" or the "Company"), one of the largest franchisees in the TGI Fridays domestic system, has obtained a senior secured credit facility from Woodforest National Bank to refinance its existing debt and provide long-term growth capital. FocalPoint Partners, LLC ("FocalPoint") served as the exclusive financial advisor to URG.
"FocalPoint played a pivotal role throughout the entire transaction," said Tony Grillo , CEO of URG. "They ran a seamless process that has allowed us to improve our capital structure and provide more flexibility with the backing of a new banking partner. We are very pleased with the outcome."
"We are thrilled to have worked with URG on this transaction to secure very favorable financing terms, allowing the Company to consolidate its financing with a long-term partner experienced in the restaurant sector. TGI Fridays is an incredibly strong brand, and URG is a top performer in the system, so we are thrilled to have delivered a great outcome on their behalf," said Tom Mills, Managing Director at FocalPoint. Mr. Mills previously worked with Tony Grillo on another successful capital raise a few years back.
"This transaction also highlights our Restaurant Group's ability to get results for our restaurant clients across all segments," added Rod Guinn, Managing Director at FocalPoint. "We have successfully closed transactions with franchisee groups as well as franchisors during a variety of economic cycles."
About United Restaurant Group, L.P.
United Restaurant Group is a long-tenured franchisee of casual dining restaurants on the Atlantic Coast and one of the largest franchisees in the TGI Fridays domestic system. Headquartered in Richmond, Virginia, URG operates 25 restaurants throughout Delaware, Virginia, North Carolina, and South Carolina. For more information, please visit www.urglp.com.
About FocalPoint Partners, LLC
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements, financial restructurings, and special situation transactions. With offices in Los Angeles and Chicago, the firm serves middle market clients throughout the U.S.For more information, please visit www.focalpointllc.com.
Please contact Tom Mills, Managing Director, at 312-508-5777, or Rod Guinn, Managing Director, at 505-828-4662 with any questions about this transaction.