GE Capital’s Franchise Finance business announced today that it has
provided $35.5 million in senior debt to Valenti Mid-South Management,
LLC, a major Wendy’s franchisee based in Tampa, FL. The funds will be
used to refinance most of the company’s senior debt.
Valenti owns and operates 125 Wendy's restaurants in Tennessee,
Mississippi, Arkansas, Missouri and Pennsylvania, as well as 17 Chili's
in Mississippi and Alabama. The company employs more than 4,900 people.
“We really value GE Capital’s experience in the restaurant industry,”
said Sharon M. Ritch, Valenti’s chief accounting officer. “We also
benefit from the long-standing relationship we’ve built with their
account manager and their senior management as we’ve grown the business.”
“We understand the importance of working closely with each customer to
meet their capital goals,” said John Sullivan, a senior vice president
with GE Capital, Franchise Finance. “We’re committed to providing
capital that enables restaurant operators to grow their franchises.”
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the U.S. franchise
finance market via direct sales and portfolio acquisitions. With more
than 30 years of experience and over $7 billion in served assets, it
provides financing to more than 2,000 customers and 14,000 properties.
The business specializes in financing mid-market operators with multiple
stores in the restaurant and hospitality industries. Its team of
industry experts works with entrepreneurial customers to help them
develop individualized growth plans. GE Capital, Franchise Finance
customers also receive access to its proprietary industry research and
cutting-edge digital tools. For more information, visit http://www.gefranchisefinance.com
or follow company news via Twitter (https://twitter.com/GELendLease).
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYSE:GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com.
Copyright Business Wire 2014