Fast-casual pizza franchise, PizzaRev, announced today that it has entered into a debt financing agreement with Wintrust Franchise Services (Wintrust) to support the company’s exponential growth.
“We’re eager to build on the growth momentum we’re experiencing with our customers and franchise partners, and the Wintrust fund will greatly support our strategic development goals,” said Rodney Eckerman, co-CEO and founder of PizzaRev.
The funding from Wintrust will help finance continued development of corporately owned PizzaRev units, as well as continued support of the growing franchise system. PizzaRev currently operates 15 corporate restaurants and seven franchise locations, with many more in various stages of development across the country. The agreement is inked less than one year since Buffalo Wild Wings, one of the world’s most successful public restaurant companies, completed its second equity investment in PizzaRev. PizzaRev formed a strategic partnership with Buffalo Wild Wings in 2013.
Sandy McCraren, President of Wintrust Franchise Services and Highland Bank Park & Trust, based in Illinois said, “PizzaRev’s strong unit economics, seasoned corporate management team and endorsement from Buffalo Wild Wings made this an attractive opportunity to us.”
The financing agreement was organized by specialty finance firm, Pinnacle Commercial Capital (Pinnacle).This transaction marks the fourth transaction that Pinnacle has arranged for a leading brand or franchisor in the last two years.
According to President of Pinnacle, Bill Wildman, “We have always focused on brands that are important to their customers, which is made apparent in PizzaRev’s strong unit volumes and the company’s credit quality. PizzaRev is a standout brand and one of the most exciting restaurants in the fast casual segment. We are flattered to be on the ground floor with such a compelling restaurant growth opportunity.”
PizzaRev is a “build-your-own” fast-casual pizza concept that has reinvented the way America eats its favorite food. Guests are empowered to fully customize a personal-sized 11″ pizza for one price. Homemade dough options, flavorful sauces, all-natural cheeses, and more than 30+ artisanal toppings, everything is on display at PizzaRev and assembled right before your eyes. The pizzas are then fired in a 900-degree, stone-hearth oven which produces a thin and crispy Roman-style pizza in just three minutes. Los Angeles-based PizzaRev was founded in 2012; the executive team possesses a combination of Fortune 500 operating experience and high-profile restaurant management.
PizzaRev is currently franchising and announced a strategic partnership with Buffalo Wild Wings in 2013. The company currently has 15 corporate restaurants and seven franchise locations in operation, with additional franchises under development across Washington, D.C. and 12 states: CA, CO, MA, MN, MO, ND, NV, NY, OH, SD, TX and UT.
Visit www.PizzaRev.com for the latest company news and location information. You can also find PizzaRev on Facebook, Twitter, Google+, and Instagram.
Wintrust Franchise Services is a division of Highland Park Bank &Trust, part of Wintrust Financial Corporation, a $19 billion holding company for 15 wholly owned banking subsidiaries with close to 100 local and community banks. For more information on Wintrust Franchise Services, contact Sandy McCraren, president of Highland Park Bank & Trust, at 847-432-2488 or by email at smccraren@wintrust.com.
Pinnacle Commercial Capital, a privately-held, Indianapolis-based specialty commercial finance company, is focused on providing a full service suite of loan products and sponsored programs to multi-unit franchisees, franchisors and other branded retail business. Loan proceeds may be used for a variety of purposes including debt refinancing, acquisitions, equipment purchases, franchisor loan programs and products, and franchisor remodel initiatives.
Pinnacle has provided business and franchise financing nationally to operators of quick service, casual dining, and family dining restaurants, lube centers, and other specialty retail outlets. The company originates loan products serving all regions of the United States through six offices, including Indianapolis, Knoxville Phoenix, Minneapolis, Los Angeles and New York. For more information on Pinnacle Commercial Capital, contact Bill Wildman, President, at (317) 472-2828, or at wildman@pincomcap.com.
