Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that Global Franchise Group, LLC (“GFG”; www.globalfranchise.com), a portfolio company of Levine Leichtman Capital Partners IV, L.P., has successfully raised a $50M senior credit facility. Proceeds of the transaction were used to refinance existing debt, pay a shareholder dividend, pay related fees and expenses and provide for on-going working capital needs of GFG.
Lauren Leichtman, Co-Founder and CEO of LLCP, commented, “This is an important transaction for GFG and is a tribute to the on-going efforts of our management team to continue to strengthen the franchise assets and operations of the company. The additional financial flexibility afforded by the senior credit facility will support GFG’s continued efforts to reinvest in the business and build value for all of our stakeholders.”
The senior credit facility was provided by Bank of Montreal and NXT Capital, LLC.
About Global Franchise Group
GFG, based in Atlanta, GA, is a strategic brand management company that owns and manages a portfolio of franchised brands in the quick service restaurant industry and the retail footwear and accessories industry. These brands include Pretzelmaker, Great American Cookies, Marble Slab Creamery, MaggieMoo’s and The Athlete’s Foot. The Company has over 1,600 franchised locations worldwide, primarily located in the United States, Canada, Latin America and Asia.