John's Incredible Pizza secured US $17.4 million, representing first lien debt, from Praesidian Capital, one of the market leaders in debt capital options for small & medium businesses and mid-sized organizations.
"We are pleased to complete the recapitalization of our balance sheet with Praesidian in the lead," John Parlet, John's CEO, said. Partlet added that the additional funding will give the company liquidity to pursue plans and strategy for future growth.
The other investors, Kemper Corporation and Mezzanine Partners, have co-shared the remaining balance in the US $30 million transaction.
Since starting in 1997, John's Incredible Pizza has established itself as one of most preferred choices for party hosting. Its flagship "Fun World" allows kids and adults alike to enjoy the many amusement games and activities. The company has presence in ten areas from California to Oregon.
Jason Drattell, founder of Praesidian Capital, said they invested in John's Pizza because they believe that the company has "the right mix of operating performance and brand uniqueness to support growth in the western states."
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