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GE Capital Finances Roark Capital’s Acquisition of Miller’s Ale House

  GE Capital Finances Roark Capital’s Acquisition of Miller’s Ale House

Business Wire

SCOTTSDALE, Ariz. -- August 5, 2013

GE Capital’s Franchise Finance business announced today that it has provided
financing to an affiliate of Roark Capital Group for the acquisition of
Miller’s Ale House, a 65-unit casual dining chain based in Jupiter, FL with
approximately $300 million in system-wide sales. GE Capital served as
administrative agent, with GE Capital Markets serving as joint lead arranger
and joint bookrunner.

Roark Capital is an Atlanta-based private equity firm with more than $3
billion in equity capital under management. This transaction marks its 26th
multi-unit company, 13th restaurant brand and second full-service restaurant
concept. Roark Capital is a long-time GE Capital customer.

“Based on GE Capital’s experience in the restaurant industry and its dedicated
resources, it was clear that they were the right choice to team up with on
this transaction. As expected, they were able to deliver a seamless
execution,” said Ezra Field, a partner at Roark Capital. “We were pleased with
the expertise and commitment of the entire deal team.”

Miller’s Ale House is a sports-themed casual restaurant chain that focuses on
high-quality food, great service and exceptional value. Its units are
company-owned; the majority are in Florida, with several locations in the New
York metro area. It had been owned by private equity firm KarpReilly LLC and
founder Jack Miller.

“We’re pleased to participate in this acquisition with Roark Capital, one of
the largest restaurant-focused private equity sponsors in the U.S.,” said Bill
Kraus, a managing director at GE Capital, Franchise Finance. “Although M&A in
the restaurant business was relatively slow in the first half of this year,
we’ve been able to sustain our momentum. The ability to leverage multiple
co-investment programs in this transaction — in addition to our capital
markets successes earlier in the year — helped us deliver for our customer.”

About Roark Capital Group

Roark Capital Group is a private equity firm focused on middle-market
investment opportunities. It primarily invests in consumer and business
services companies, with a focus on the franchise sector. Its current
portfolio includes the following brands: Carvel Ice Cream, Cinnabon,
Schlotzsky's, Auntie Anne’s, Corner Bakery, Arby’s and Massage Envy, among
others. Roark Capital's franchise and multi-unit portfolio comprises over
11,000 locations and $11 billion in system-wide revenues across 50 states and
66 countries. For more information, go to http://www.roarkcapital.com.

About GE Capital, Franchise Finance

GE Capital, Franchise Finance is a leading lender for the U.S. franchise
finance market via direct sales and portfolio acquisitions. With more than 30
years of experience and over $7 billion in served assets, it provides
financing to more than 2,000 customers. The business specializes in financing
mid-market operators with multiple stores in the restaurant and hospitality
industries. Its team of industry experts works with entrepreneurial customers
to help them develop individualized growth plans. GE Capital, Franchise
Finance customers also receive access to its proprietary industry research and
cutting-edge digital tools. For more information, visit
http://www.gefranchisefinance.com or follow company news via Twitter
(https://twitter.com/GELendLease).

GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (https://twitter.com/GECapital).

GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in energy,
health and home, transportation and finance. Building, powering, moving and
curing the world. Not just imagining. Doing. GE works. For more information,
visit the company's website at www.ge.com.

Contact:

GE Capital, Americas
Lisa Tibbitts, 203-956-4582
lisa.tibbitts@ge.com
 
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