PAQ, Inc. and QSI, Inc. (jointly, the "Companies"), affiliated West Coast food retailers, engaged LDA to arrange approximately $105 million in debt financing with three clearly defined objectives: (i) facilitate multiple near term acquisitions and strategic initiatives; (ii) fund a dividend to the Companies' founders; and (iii) implement an institutional capital structure, limiting the need for a personal guarantee from the principal shareholders.
Non-sponsored dividend recapitalization concurrent with multiple acquisitions amid tumultuous capital market conditions.
created additional complexity.
Employ a broad solicitation process and identify lenders with industry familiarity and comfort with dividend related transactions
hundred subordinated lenders.
solution from the incumbent senior lender.
After receiving multiple proposals for each tranche, two of the four acquisitions were delayed, thereby reducing the need for capital
below their original proposal, while concurrently expanding the collateral base and simplifying periodic reporting.
dividends during the term.
in 24 months.