OREANDA-NEWS. May 11, 2012. GE Capital, Franchise Finance provided an USD 80 million senior credit facility to F&H Acquisition Corp., a restaurant company majority-owned by affiliates of Newcastle Capital Management, L.P. and Steel Partners Holdings L.P. The financing includes a USD 72.5 million term loan and a USD 7.5 million revolving line of credit to assist in recapitalizing the company’s balance sheet.

 “Our existing relationship with GE Capital helped when selecting them as our lead lender,” explained Jim Zielke, CFO, F&H Acquisition Corp. “The refinancing of our existing debt allowed our company to increase cash flow and continue with our expansion efforts.”

 Based in Wichita, Kansas, F&H Acquisition Corp. is an investment group that currently owns and operates 63 Fox and Hound restaurants, 45 Champps, and 20 Bailey’s restaurants throughout the United States.

 “Our industry knowledge and execution capabilities were critical to the success of this deal,” said Mike Kurtz, vice president, GE Capital, Franchise Finance. “We look forward to working with this operator again as it continues to grow.”

 Fox and Hound Restaurant Group, a subsidiary of F&H Acquisition Corp., operates 83 sports bars in 25 states under the Fox and Hound and Bailey's brands. Champps Entertainment, Inc., also a subsidiary of F&H Acquisition Corp., owns, operates, and franchises 59 Champps, an American casual dining restaurant chain and sports bar.