Latest news with #BainCapitalPrivateEquity
Yahoo
26-06-2025
- Business
- Yahoo
Sizzling Platter Prices Offering of $500 Million Senior Secured Notes to Finance Acquisition by Bain Capital Private Equity
SALT LAKE CITY, June 26, 2025--(BUSINESS WIRE)--Sizzling Platter, one of the largest U.S. restaurant franchisee platforms, today announced that affiliates of Bain Capital Private Equity have priced $500 million in aggregate principal amount of 9.500% senior secured notes due 2032 (the "notes"), to fund the acquisition of Sizzling Platter's parent (the "Company") by Bain Capital Private Equity. The affiliates, BCPE Flavor Debt Merger Sub, LLC ("Merger Sub") and BCPE Flavor Issuer, Inc. (the "Co-Issuer") intend to use the net proceeds from the notes offering, together with borrowings under new senior secured credit facilities and equity contributions, to fund the acquisition, repay Sizzling Platter's existing indebtedness and pay related fees and expenses, with the remainder to be used for general corporate purposes. This press release does not constitute a notice of repayment of any outstanding indebtedness of Sizzling Platter. The notes will mature on July 1, 2032, unless earlier repurchased or redeemed in accordance with their terms. The notes offering is expected to close on July 2, 2025, subject to customary closing conditions. Upon consummation of the acquisition, the notes will be guaranteed jointly and severally on a senior secured basis by each existing and future wholly owned subsidiary of the Company (other than the Co-Issuer) that guarantees the Company's obligations under the new senior secured credit facilities, subject to certain exclusions. The notes and the related guarantees were offered to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. The notes and related guarantees have not been and will not be registered under the Securities Act or any state or other jurisdiction's securities laws. Accordingly, the notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and any applicable state or other jurisdiction's securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. Forward-Looking Statements This press release contains statements that are forward-looking statements within the meaning of the federal securities laws and are subject to various risks, uncertainties and assumptions. All statements that are not historical in nature, and which may be identified by the use of words such as "expects," "plans," "seeks," "anticipates," "strategy," "believes," "intends," "may," "outlook," "forecasts," "goal," "estimates" and other similar expressions or future or conditional verbs such as "will," "should," "would" and "could" and similar expressions (or the negative of such expressions), are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the proposed merger and the expected closing of the offering. Forward-looking statements are made based on our current expectations and beliefs concerning future events and, therefore, involve a number of assumptions, risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those indicated by such forward-looking statements. The Company undertakes no obligation to update our forward-looking statements to reflect events and circumstances after the date on which the statements were made or to reflect the occurrence of unanticipated events. View source version on Contacts Samuel
Business Wire
26-06-2025
- Business
- Business Wire
Sizzling Platter Prices Offering of $500 Million Senior Secured Notes to Finance Acquisition by Bain Capital Private Equity
SALT LAKE CITY--(BUSINESS WIRE)--Sizzling Platter, one of the largest U.S. restaurant franchisee platforms, today announced that affiliates of Bain Capital Private Equity have priced $500 million in aggregate principal amount of 9.500% senior secured notes due 2032 (the 'notes'), to fund the acquisition of Sizzling Platter's parent (the 'Company') by Bain Capital Private Equity. The affiliates, BCPE Flavor Debt Merger Sub, LLC ('Merger Sub') and BCPE Flavor Issuer, Inc. (the 'Co-Issuer') intend to use the net proceeds from the notes offering, together with borrowings under new senior secured credit facilities and equity contributions, to fund the acquisition, repay Sizzling Platter's existing indebtedness and pay related fees and expenses, with the remainder to be used for general corporate purposes. This press release does not constitute a notice of repayment of any outstanding indebtedness of Sizzling Platter. The notes will mature on July 1, 2032, unless earlier repurchased or redeemed in accordance with their terms. The notes offering is expected to close on July 2, 2025, subject to customary closing conditions. Upon consummation of the acquisition, the notes will be guaranteed jointly and severally on a senior secured basis by each existing and future wholly owned subsidiary of the Company (other than the Co-Issuer) that guarantees the Company's obligations under the new senior secured credit facilities, subject to certain exclusions. The notes and the related guarantees were offered to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and to non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. The notes and related guarantees have not been and will not be registered under the Securities Act or any state or other jurisdiction's securities laws. Accordingly, the notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and any applicable state or other jurisdiction's securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. Forward-Looking Statements This press release contains statements that are forward-looking statements within the meaning of the federal securities laws and are subject to various risks, uncertainties and assumptions. All statements that are not historical in nature, and which may be identified by the use of words such as 'expects,' 'plans,' 'seeks,' 'anticipates,' 'strategy,' 'believes,' 'intends,' 'may,' 'outlook,' 'forecasts,' 'goal,' 'estimates' and other similar expressions or future or conditional verbs such as 'will,' 'should,' 'would' and 'could' and similar expressions (or the negative of such expressions), are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the proposed merger and the expected closing of the offering. Forward-looking statements are made based on our current expectations and beliefs concerning future events and, therefore, involve a number of assumptions, risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those indicated by such forward-looking statements. The Company undertakes no obligation to update our forward-looking statements to reflect events and circumstances after the date on which the statements were made or to reflect the occurrence of unanticipated events.
Business Wire
16-06-2025
- Business
- Business Wire
Sizzling Platter Announces Proposed Offering of $500 Million Senior Secured Notes to Finance Acquisition by Bain Capital Private Equity
SALT LAKE CITY--(BUSINESS WIRE)--Sizzling Platter, one of the largest U.S. restaurant franchisee platforms, today announced that affiliates of Bain Capital Private Equity intend to offer $500 million in aggregate principal amount of senior secured notes due 2032 (the 'notes'), subject to market and other customary conditions, to fund the acquisition of Sizzling Platter's parent (the 'Company') by Bain Capital Private Equity. The affiliates, BCPE Flavor Debt Merger Sub, LLC ('Merger Sub') and BCPE Flavor Issuer, Inc. (the 'Co-Issuer') intend to use the net proceeds from the notes offering, together with borrowings under new senior secured credit facilities and equity contributions, to fund the acquisition, repay Sizzling Platter's existing indebtedness and pay related fees and expenses, with the remainder to be used for general corporate purposes. This press release does not constitute a notice of repayment of any outstanding indebtedness of Sizzling Platter. Upon consummation of the acquisition, the notes will be guaranteed jointly and severally on a senior secured basis by each existing and future wholly owned subsidiary of the Company (other than the Co-Issuer) that guarantees the Company's obligations under the new senior secured credit facilities, subject to certain exclusions. The Notes and the related guarantees are being offered to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and to non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. The Notes and related guarantees have not been and will not be registered under the Securities Act or any state or other jurisdiction's securities laws. Accordingly, the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and any applicable state or other jurisdiction's securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. Forward-Looking Statements This press release contains statements that are forward-looking statements within the meaning of the federal securities laws and are subject to various risks, uncertainties and assumptions. All statements that are not historical in nature, and which may be identified by the use of words such as 'expects,' 'plans,' 'seeks,' 'anticipates,' 'strategy,' 'believes,' 'intends,' 'may,' 'outlook,' 'forecasts,' 'goal,' 'estimates' and other similar expressions or future or conditional verbs such as 'will,' 'should,' 'would' and 'could' and similar expressions (or the negative of such expressions), are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the proposed merger, the ability to complete the offering on favorable terms, if at all, and general market conditions which might affect the offering. Forward-looking statements are made based on our current expectations and beliefs concerning future events and, therefore, involve a number of assumptions, risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those indicated by such forward-looking statements. The Company undertakes no obligation to update our forward-looking statements to reflect events and circumstances after the date on which the statements were made or to reflect the occurrence of unanticipated events.
Mint
13-06-2025
- Business
- Mint
Bain Capital-backed CitiusTech exploring acquisitions, to evaluate IPO
Bain Capital-backed CitiusTech, a healthcare technology services company, is planning to grow through acquisitions and will evaluate an IPO this year, either in the US or India, chief executive officer (CEO) Rajan Kohli told Mint in an interview. 'It is very much in our growth path," Kohli said, referring to the company's plan to list on the exchanges. 'We will evaluate [it] this year if the markets are good," he said, adding that the company will evaluate listing in either India or the US. The firm's primary market is the US, accounting for 95% of its revenues. Its investors are Bain Capital Private Equity and EQT Private Capital Asia (previously Baring Private Equity Asia). Also read: FPI Tracker: Telecom, services, capital goods corner major chunk of inflows; IT, healthcare face heavy selling in May In 2022, Bloomberg reported, citing people in the know, that CitiusTech had filed confidentially for a US IPO. The health tech firm is planning expansions in Europe and Japan, as demand for healthcare technology services increases among medtech, healthcare, and life sciences companies. Kohli said that the firm's specialised focus on healthcare gives it an edge over large Indian IT service companies that cater to various industries. A few other Indian companies are focused solely on healthcare tech services, like IKS Health, which was listed on the exchanges in December 2024 and posted ₹2,664 crore revenue in FY25. Acquisitions drive growth The firm is looking at acquisitions this year to drive growth. 'We didn't make any acquisitions for the last two years because the valuation was not great in the market," Kohli said, adding that this year the company is targeting two acquisitions, provided it finds targets that meet its requirements. CitiusTech is exploring acquisition options which would strengthen its foray into Europe as well as enhance its abilities in the healthcare provider market. Also read: Jainik Power and Cables IPO allotment to be out soon: Here are steps to check status online and GMP The company had previously stated a target of $1 billion in revenue by FY28, which it is still aiming for, Kohli said. 'On an organic basis, we continue to grow as per plan," he said. The company is expecting mid-teens revenue growth in FY26, after high single-digit revenue growth in FY25, Kohli said. While it hasn't yet posted its FY25 results, it clocked revenue of ₹3,536 crore and a profit of ₹350 crore in FY24. GenAI tailwind Kohli sees GenAI as a significant tailwind driving growth, as companies look for cost optimisation solutions. '...today, 25% of our clients give us the opportunity to use GenAI tools. I think in one or two years, 80-100% of our clients will allow GenAI-produced code into their environment," he said. Also read: Aten Papers & Foam IPO Day 1: Check subscription status, GMP, and other details Being a healthcare-focused service provider gives CitiusTech an edge as well, according to Kohli. 'It is a huge advantage being just focused on healthcare because a lot of our clients buy us because of our specialised capabilities. All our investment, all our R&D, all our training goes into healthcare only," he said.
