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| Home : Comvest Capital Announces Investment in Cerca Trova Restaurant Concepts, Inc. |
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May 04
2017 |
Comvest Capital Announces Investment in Cerca Trova Restaurant Concepts, Inc. |
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WEST PALM BEACH, FL--(Marketwired - May 03, 2017) - Comvest Partners, through its lending strategy, Comvest Capital ("Comvest"), has acted as documentation agent and lender in a new $135.0 million senior secured credit facility for Cerca Trova Restaurant Concepts, Inc. ("Cerca Trova") (formerly T-Bird Restaurant Group, Inc.), a portfolio company of H.I.G. Capital ("H.I.G."). The financing was used to fund the acquisition of 45 corporate-owned Outback Steakhouse restaurants from its franchisor, Bloomin' Brands, Inc. and refinance existing debt. The acquisition includes all stores in Arizona, Colorado, Nevada and New Mexico. Cerca Trova remains the largest domestic franchisee of Bloomin' Brands and becomes the exclusive franchisee of Outback Steakhouse in Arizona, California, Colorado, Nevada, and New Mexico. |
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| Source:http://www.marketwired.com/mw/release.do?id=2213681&sourceType=3 |
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