Praesidian Capital, a leading provider of debt capital for small and mid-sized businesses, has exited its USD17.4 million first lien debt investment in John’s Incredible Pizza Company.
“Praesidian was a terrific partner for John’s,” says John Parlet (pictured), John’s CEO and founder. “Their participation came at the right time to enable us to create a new financial foundation to support organic growth, as well as allow us to start building a new store in Las Vegas. Our combination of food on one side and entertainment on the other makes John’s a perfect addition to the Vegas dining environment. We are grateful to Praesidian for helping us to reach this stage in our development.”
Jason Drattell, founder of Praesidian Capital, says: “John’s was an excellent investment and John has been a great partner.” Jon Mansfield, Partner of Praesidian Capital, commented: “The company’s growing sales and strong cash flow enabled us to exit after being with the company for three years. We know our investors are as pleased with the results as we are. We wish John’s a great future.”
