ANN ARBOR, Mich., Jan. 15, 2013 /PRNewswire/ -- Capital Growth Advisors, LLC ("CapGrow") has announced the completion of a $6.95 million refinance of Sugar Creek Pizza, LLC and New River Pizza, LLC – two Pizza Hut franchises under common ownership with 32 restaurants located in Ohio, West Virginia and Maryland. CapGrow provided financial consulting services to the restaurant group in the transaction.
"It was a solid transaction that went very smoothly," said Christopher Flocken, president of Sugar Creek and New River Pizza. "We picked CapGrow to help us find the right long-term, senior debt provider and they found it in Cadence Bank. Cadence provided us with a very competitive structure, and most importantly, the flexibility we required."
The funds will be used to refinance existing debt and support an on-going remodeling initiative for the current locations.
"We are pleased to play an active role in helping Sugar Creek and New River Pizza reach their performance targets," said John Huss, managing director for Cadence Bank. "This transaction is the catalyst to building a solid relationship with the company and demonstrates our ability to provide customized senior capital solutions and treasury services."
"We were also very pleased on how smoothly this went," said Philip McDonough, Managing Director for Capital Growth Advisors, LLC. "We were able to deliver the exact financing solution that our client wanted, with very competitive pricing and terms, all delivered in a timely fashion."
Capital Growth Advisors, LLC, headquartered in Ann Arbor, Michigan, is a leading provider of fee-based financial consulting services to the multi-unit restaurant industry. Additional information on CapGrow can be found at www.capgrow.net.
Cadence Bank, based in Birmingham, Ala., is a $5.5 billion bank that operates more than 100 locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Cadence serves commercial and consumer clients with a full range of innovative banking and financial solutions designed to keep pace with their lives. Cadence Bank, N.A. and its affiliates, Linscomb & Williams and Town & Country℠ Insurance Agency, are wholly owned subsidiaries of Cadence Bancorp, LLC, based in Houston, Texas. Additional information about Cadence Bank is available at cadencebank.com. Cadence Bank, N.A. Member FDIC. Equal Housing Lender.
SOURCE Capital Growth Advisors, LLC