Joyal Capital Management Announces Management Buyout of Papa John’s in Great Miami Marketplace
Joyal Capital Management, LLC is pleased to announce that its private equity vehicle, the JCM Opportunity Fund I, LLC, has concluded its investment in a $17,900,000 leveraged management buyout of a thirty-one-store network of Papa John’s in the Greater Miami, FL marketplace.
The transaction utilized a combination of senior and mezzanine debt, which allowed 100% of the equity and operational control to consolidate with the network’s CEO, established reserves to facilitate upgrades to the POS and equipment, and strategically relocated certain stores. Due to a shorter holding period driven by the operation exceeding its financial projections, the Fund realized a 22.96% Investment IRR which represents a near 10% increase over the originally projected IRR of 13.92%.
Joyal Capital Management, LLC represents more than 500 clients in over 20 states on mergers and acquisitions, financing, private equity and family office services. The JCM Opportunity Fund I, LLC focuses on franchise and real estate investments. Since its inception, the Fund has made five investments, three of which have been completed and two of which are ongoing.