Carrac Business Update
Carrac completed a structred equity transaction with a group of Sonic Drive-In operators, looking to grow their base of business in the Southeast. The group needed capital to purchase new units and convert an old Wendy’s locaiton into a Sonic. Carrac provided a flexible debt and equity financing package to enable the group to complete the purchase and remodeling. The new location opened as planned. Carrac will be looking for opportunities to further the relationship as the company looks to build upon its new base.
Carrac Capital Partners is a private investment firm focused on opportunities in the franchise and restaurant industries. Carrac combines operating experience coupled with skills and knowledge across a range of areas, including real estate, advisory and operations, critical to helping companies grow. Fund I focuses on opportunities under $10 million and our JV Fund focuses on larger investments up to $50 million. Our principals are actively involved in our investments through all aspects of operations, marketing, acquisitions and development.
We are currently looking for larger non-control investments in a variety of restaurant concepts both franchisee/franchisor and operating companies across the casual dining, quick and full service categories.
Carrac Capital Fund I –
Minority equity investment in SDI Partners, LLC. SDI Partners LLC, owns Sonic Drive-In (SONC.N) restaurants in the Dallas-Ft. Worth area. Carrac Capital’s principals provided equity funding and sourced debt financing for SDI. David Wilkinson, Managing Partner of SDI on the transaction: “We were very happy with Carrac’s commitment to us as part of our vision for growth. Carrac was able to respond quickly to our financing needs and they were very easy to work with. We are looking forward to working with them in the future.” Carrac principal David Bagley: “Our commitment to SDI was simple, we would move quickly on this transaction and also be a long term partner on future transactions. From the first time we spoke to David [Wilkinson] we knew we could support David and the leadership team and their aspirations for growth.”
Carrac Capital opens for Business.