NEW YORK--(BUSINESS WIRE)--Praesidian Capital, a leading provider of debt capital for small and mid-sized businesses, reported today it has exited its $17.4 million first lien debt investment in John’s Incredible Pizza Company, Inc. (“John’s”).
“Praesidian was a terrific partner for John’s,” said John Parlet, John’s CEO and founder. “Their participation came at the right time to enable us to create a new financial foundation to support organic growth, as well as allow us to start building a new store in Las Vegas. Our combination of food on one side and entertainment on the other makes John’s a perfect addition to the Vegas dining environment. We are grateful to Praesidian for helping us to reach this stage in our development.”
Jason Drattell, founder of Praesidian Capital, commented: “John’s was an excellent investment and John has been a great partner.” Jon Mansfield, Partner of Praesidian Capital, commented: “The company’s growing sales and strong cash flow enabled us to exit after being with the company for three years. We know our investors are as pleased with the results as we are. We wish John’s a great future.”
About John’s Incredible Pizza Company, Inc.
Founded in 1997, 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. Its new store in Las Vegas is slated for late 2015. For more information, please visit www.johnspizza.com.
Praesidian Capital is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe. Praesidian invests in established, small and mid-sized companies often in connection with management buyouts, recapitalizations and refinancings. Based in New York City with an office in London, Praesidian manages nearly $1 billion in committed capital. For more information, visit www.praesidian.com.