HOUSTON--(BUSINESS WIRE)--Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates provided senior debt financing in support of Gauge Capital’s (“Gauge”) partnership with Craftable, a leading hospitality-focused SaaS platform that provides back-of-house automation and management to the hospitality, food, beverage, and entertainment industries.
Founded in 2015, Craftable’s innovative technology solutions equip restaurant, bar, hotel, and hospitality business operators with intuitive and easy-to-use tools that can help them make strategic decisions based on real-time data to drive sales and reduce costs. Its leading hospitality management SaaS platform allows for seamless back-of-house automation and management. By providing operators with procurement, inventory tracking, recipe cost management, accounts payable automation, scheduling, and analytics solutions, they can use this critical data to boost revenue while successfully lowering pour costs by 3-5% and food costs by 2-3%. Craftable serves thousands of hospitality industry operators and partners with some of the most prominent names in hospitality.
“We appreciate Stellus’ support of the transaction and their ability to work swiftly to provide a flexible financing structure that enables us to capitalize on growth opportunities and further enhance Craftable’s position at the forefront of cutting-edge technology shaping the hospitality industry,” said Garrett Fair, Principal at Gauge.
Gavin Roseman, Managing Director at Stellus, added, “We are excited to partner with Gauge on another transaction and look forward to working with Samuel Zats and the entire Craftable management team. The Craftable team has created a leading hospitality SaaS platform with significant growth opportunities. The partnership with Gauge will provide the team with additional resources and support to accelerate growth.”
About Stellus Capital Management
Stellus Capital Management (“Stellus”) is one of the longest-tenured direct lenders specializing in senior secured loans in the lower middle market. Formed within the D.E. Shaw Group in 2004, Stellus spun out in 2012 and today manages $2.9 billion across various investment vehicles including closed-end institutional funds, a public BDC (NYSE: SCM), and a perpetual non-traded private BDC. Stellus is a single strategy firm and its founding partners have invested together in the lower middle market for 19+ years with a track record of $8.5bn deployed across ~350 transactions. Stellus is headquartered in Houston, TX with offices in the Washington D.C. area and Charlotte, NC. Learn more at stelluscapital.com.