GE Capital, Franchise Finance, an operating unit of
General Electric Company
), recently provided debt financing to Atlanta-based private
equity firm Roark Capital to fund the acquisition of casual
dining chain Miller's Ale House in Jupiter, FL. In addition to
the requisite funding for the strategic purchase, the transaction
reinforced the mutual business relationship of Roark Capital with
With over $3 billion equity capital under management in its
kitty, Roark Capital focuses on leveraged buyout investments in
middle-market companies, primarily in consumer and business
services firms. The company specifically emphasizes food and
restaurant, specialty retail, environmental services, waste
management, and marketing services sectors.
Roark Capital has reportedly invested in 22 franchise brands that
have cumulatively generated over $10 billion in system sales with
50,000 points of distribution across 50 U.S. states and 56
countries around the world. The Miller's Ale House acquisition
marks its 26th multi-unit company, 13th restaurant brand and
second full-service restaurant concept.
Since its inception in 1988, Miller's Ale House has developed
into a successful casual dining restaurant chain with
approximately $300 million in system-wide sales. Each restaurant
unit boasts a full-service bar featuring wine, liquor and over 75
varieties of beer. The restaurant chain was previously owned by
private equity firm KarpReilly LLC and founder Jack Miller. With
Roark Capital currently on helm, Miller's Ale House is likely to
get additional liquidity to generate more sales.
General Electric is one of the largest and the most diversified
technology and financial services corporations in the world. With
products and services ranging from aircraft engines, power
generation, water processing and security technology to medical
imaging, business and consumer financing, media content, and
industrial products, the company serves over 100 million
Its segments include Power & Water, Oil & Gas, Energy
Management, Aviation, Healthcare, Transportation, Home &
Business Solutions, and GE Capital. Over the years, GE Capital,
Franchise Finance has provided loans for the franchise finance
market either through direct sales or portfolio acquisition. With
over $7 billion in served assets, it primarily serves mid-market
operators in the restaurant and hospitality industries across
diverse property locations.
General Electric has a Zacks Rank #3 (Hold). Other companies in
the industry that are worth mentioning include U
nited Technologies Corp.
), each carrying a Zacks Rank #2 (Buy).
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