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Golub Capital Supports Acquisition of Freddy’s Frozen Custard & Steakburgers

March 08, 2021, 08:00 AM
Filed Under: Restaurant

Golub Capital acted as the Administrative Agent, Joint Lead Arranger and Joint Bookrunner on a GOLD facility to finance Thompson Street Capital Partners' ("TSCP") acquisition of Freddy's Frozen Custard & Steakburgers ("Freddy's"). GOLD financings are Golub Capital One-Loan Debt facilities.

Freddy's, a fast-casual restaurant concept, is known for its All-American menu of cooked-to-order steakburgers, hot dogs, shoestring fries and frozen custard. Freddy's was founded in Wichita, KS and today has more than 360 franchised and company-owned restaurants across 32 states.

"We are excited to partner with TSCP on the Freddy's transaction, which is in a sector we know well," said Greg Cashman, Head of Direct Lending at Golub Capital. "Freddy's has a strong franchise business and brand which, coupled with TSCP's track record for success, make for a very compelling combination."

"Golub Capital's expertise in fast-casual restaurants made them an ideal financing partner for this transaction," said Liz Borow, Managing Director at TSCP. "The GOLD financing gives us the scalability and flexibility to facilitate the continued growth of Freddy's."

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