Round Table Pizza Announces Refinancing of Senior Debt

CONCORD, CA—Round Table Pizza, Inc., a leading pizza chain in the western U.S., announced today that it completed the refinancing of its senior debt. On November 2, 2012, the company entered into a $35 million senior secured credit agreement with Summit Partners, a growth equity firm that makes equity and credit investments in growing companies across North America, Europe and Asia. Under the new credit facility, Round Table obtained a term loan in the aggregate principal amount of $32.5 million, which matures in five years. It also received the option of obtaining additional growth capital of up to $2.5 million.

Concurrently, Round Table Pizza terminated its existing credit agreement with GE Capital and Prudential covering an outstanding principal amount of $28.8 million. "This new credit facility provides us the capital we need to execute our strategic business plan," said Round Table's Chief Executive Officer, Rob McCourt. "We were able to secure the new loan on competitive terms and creatively structure the credit facility to reduce our quarterly loan payments." Added Round Table's Chief Financial Officer, Keith Davis, "We've accomplished our refinancing nine months ahead of schedule. This was made possible by the strong positive momentum we're experiencing in our underlying business."

Founded in Menlo Park, CA in 1959, Round Table Pizza has been a west coast institution for 50 years. Round Table has grown to be a leader in the premium pizza market and focuses on serving the needs of families. The company, known for making "The Last Honest Pizza," has a system of approximately 450 franchised and company-owned stores operating in the western U.S. with system revenues of approximately $400 million. Round Table Pizza, Inc. is a private, 100% employee-owned company with corporate offices based in Concord, California. www.roundtablepizza.com

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Services Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

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