FOR IMMEDIATE RELEASE
Richmond, VA – (June 10, 2013) Transact Capital is pleased to announce The Boathouse has completed their successful refinancing with Vantage South Bank. The refinancing positions The Boathouse with a committed lending partner, and paves the way for new business growth through the use of Vantage South Bank’s refinancing arrangement. Transact Capital served as the financial advisor to Kevin Healy and The Boathouse.
Kevin Healy is a well-recognized and sought-after name in the local market and particularly in the restaurant industry. With more than 35 years of relevant industry experience, Kevin has established and maintained a proven track record for success in an ever-evolving and challenging industry. Kevin has been running The Boathouse for over 25 years and has been instrumental to The Boathouse concept as well as creating, testing, and refining the dining options. Kevin’s approach is realistic, but entrepreneurial and he ensures that he is always aligned with quality partners and trusted advisors.
Kevin Healy maintains that “Growing and improving our offering at The Boathouse at Sunday Park, and its sibling operations at Rocketts Landing and Casa Del Barco, has been our focal point throughout the years. However, our financing structure had become inefficient to the point where it hindered further expansion.”
Healy goes on to say, “We turned to our original Rocketts Landing financing team headed by George Sydnor and Transact to refinance and streamline our debt structure, as well as to secure additional working capital with a revolving line of credit. Alignment with a quality financing partner would be the ‘key’ to our current operations and future growth plans.”
George Sydnor and the Transact Capital team were instrumental in introducing me to VantageSouth Bank, clearly a great match for The Boathouse entities. The Transact team made sure the process stayed on course, as we were working against a hard deadline, as well as providing the right refinancing structure that reduced our debt service obligations while providing the availability to substantially more capital. As a partner, Vantage South not only recognized the compelling risk/reward opportunity that the Boathouse offered, but went the ‘extra mile’ in making this complex process happen in the right timeline.
This financing paves the way for new business growth with plans already in place for significant upgrades to our existing facilities and enhanced capacity expansion.”
George Sydnor, who heads up the Roanoke office of Transact, added “Our team has been working with Kevin Healy and his individual restaurant entities for over four years; Healy is a true entrepreneur and one that perseveres through good times and bad with his innate understanding of the industry and what it takes to be successful. He “knows” his operations and what “makes them tick”.
Our responsibility at Transact was to structure the right financing to support the The Boathouse expansion evolution and ongoing operations. We don’t just close deals; we craft creative solutions to fit our clients’ needs.”
Transact Capital is an independent mergers and acquisions advisory firm headquartered in Richmond, VA with offices in Roanoke, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of small privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
To learn more about Transact Capital, please call Steve Zacharias at 804-323-6868 ext. 102, or send an email to Steve@TransactCapital.com.