ATLANTA--(BUSINESS WIRE)--Bay Point Advisors, LLC, an Atlanta-based privately held secured lender, is pleased to announce it has provided funding to NRD Capital, an Atlanta-based private equity firm, for the acquisition of 43 Ruby Tuesday franchise locations as part of the $335 million going-private sale of Ruby Tuesday to NRD Capital at the end of 2017.
The Ruby Tuesday transaction represents NRD’s biggest deal to date, with Bay Point Advisors playing a key role. The Bay Point financing allowed for the acquisition of Ruby Tuesday locations in Georgia, North Carolina, South Carolina, Tennessee and Alabama. The Southeast region acts as the hub of Ruby Tuesday locations.
“We have been doing more and more transactions in the distressed market, but this was our first in the restaurant space,” said Charles Andros, Atlanta-based partner of Bay Point Advisors. “We are happy to continue expanding our platform and assisting clients during difficult times.”
Thompson Hine LLP represented Bay Point Advisors in the transaction. The legal team included John Isbell and Stephen Schrock, with support from Christina Campbell. (Christina is admitted only in Washington, D.C. and Virginia.) All are from Thompson Hine’s Atlanta office.
This is the most recent in a string of transactions in which Bay Point has provided funding for high-profile projects. The firm recently provided $18 million to Seminole Coal Resources for developing natural resources and a $5 million Debtor-In-Possession loan to Premier Exhibitions, Inc.
About Bay Point Advisors
Bay Point Advisors is a privately held firm specializing in short-term, secured lending to small- and medium-sized businesses. Its Secured Lending group lends to small and mid-sized businesses where traditional loan sources do not exist and designs custom funding solutions that meet the unique needs of each business. Examples of secured lending include real estate development financing, private business funding, first lien small business, commercial real estate, real estate inventory financing, residential real estate, renovation loans and tax deeds.