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Case Study

Fast-casual restaurant chain completes minority recapitalisation

Based in Albuquerque, New Mexico, Dion's is a fast-casual restaurant chain specialising in pizza, subs and salads.

Case Study

Fast-casual restaurant chain completes minority recapitalisation

Based in Albuquerque, New Mexico, Dion's is a fast-casual restaurant chain specialising in pizza, subs and salads.

At a Glance

Financing Dion's Minority Recapitalisation

Oftentimes, maintaining control is the best way for businesses to ensure that their values are upheld, which is why minority recapitalisations are a desirable solution. Learn more about our one-stop offering to Dion’s, and the ways in which it enabled them to stay behind the wheel.

Relationship since 2014
Transaction details:
  • Minority Recapitalisation
  • $5 million Revolving Credit Facility
  • $18 million Term Loan
  • $10 million Subordinated Debt
  • $10 million Preferred Equity
“Pricoa listened to us and our objectives. They've been able to help us come up with a strategy so over time we can get the money out that the founders need and the management team can continue to grow the Company and keep the culture intact.”​
Mark Herman CEO, Dion's Pizza
Dion's partner story

The Full Story

Transitioning ownership

Dion's first began working with us in 2014, when they were seeking capital to recapitalise their Company.​​

As Dion's grew over the years the founders owned about 85 percent of the organisation and the management team owned the remaining 15 percent. The founders were looking to take a step back from the day to day operations of the business and realise some liquidity from their ownership. The Company's investment banker had come to know us through a previous transaction and introduced us to Dion's, thinking our ability to do a minority recapitalisation would be a good fit.

We were able to finance a minority recapitalisation through a one-stop financing transaction. We provided a revolver, senior debt, subordinated debt, and preferred equity. Our solution was able to provide the two founders with substantial liquidity and they were still able to retain control of the business.

Person making pizza

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T.J. Flanagan headshot
T.J. Flanagan
Vice President
+1.310.295.5014
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Arizona, New Mexico, & Southern California

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