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NEW YORK | July 2013
Funds Will Recapitalize Balance Sheet and Support New Growth
NEW YORK - July 31, 2013 - Praesidian Capital, a leading provider of debt capital for small and mid-sized businesses, announced today it has invested $17.4 million of first lien debt to recapitalize John's Incredible Pizza Company, Inc. ("John's"). Praesidian's investment represents 58% of the total $30 million deal, the balance of which was shared equally with Brookside Mezzanine Partners and Kemper Corporation.
John's Incredible Pizza offers food and fun in an environment that makes it a destination for families and parties. The company's unique "Fun World" features a range of games and activities from bowling to bumper cars. Founded in 1997, John's is headquartered in Rancho Santa Margarita, Calif., and has 10 locations in California and Oregon.
"We are pleased to complete the recapitalization of our balance sheet with Praesidian in the lead," stated John Parlet, John's CEO and founder. "In so doing, we will have the right financial structure for future growth. When I started this company, I wanted to create the best environment for families for great food and amazing entertainment. With the support of our in-house programmers and our dedicated staff, we deliver the best every day with systems that no one else has duplicated. "
Jason Drattell, founder of Praesidian Capital, commented: "We believe John's has the right mix of operating performance and brand uniqueness to support growth in the western states, and we look forward to working with John Parlet and his team as the company grows."
About John's Incredible Pizza Company, Inc.
John's Incredible Pizza offers a selection of pizza and accompanying foods in specialty environments and "Fun Worlds" that offer complete family entertainment for all ages. Based in Rancho Santa Margarita in Southern California, each of John's 10 facilities average around 47,000 square feet. For more information, please visit www.johnspizza.com.
About Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses by providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian manages more than $700 million in committed capital. For more information, visit www.praesidian.com.
Contact: Rivian Bell
The Abernathy MacGregor Group
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