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Essex Funds $15.5MM Burger King Acquisition

October 29, 2020, 08:37 AM
Filed Under: Restaurant

Essex Capital Group arranged $15,500,000 to fund the acquisition of multiple Burger King restaurants located in the Midwest.

As a part of the Financing, Essex successfully placed the transaction debt and equity, as well as additional development financing for the acquiring entity, Factorial BK, LLC (“Factorial”). The development financing took the form of a delayed draw term loan, and this additional capital will be used to accelerate store remodels and drive ongoing growth.

Fred Beilstein, Essex Managing Director said, “The Factorial principals are a highly experienced team in the quick serve restaurant space. This transaction serves as a platform acquisition for Factorial and entry into the Burger King system. We were pleased to be able to execute a complete financing solution for the team given today’s capital markets.”

“Essex Capital delivered exactly what we needed in a timely fashion. We tasked Essex with executing a complex transaction on a tight timeframe. Given additional market challenges faced due to the environment created by COVID-19, we were thrilled with Essex’s tenacity to bring us a successful closing,” said Michael Stanley, Factorial Managing Partner.
Essex Capital acted as the exclusive financial advisor for Factorial in this transaction.

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