client_transactions

SSG Client Transactions

Title

OTG Management, Inc.
Client Profile

Client Profile

OTG Management, Inc. ("OTG" or the "Company"), founded in 1996, is a privately held company that operates award-winning full service sit-down and quick-serve restaurants, bars, lounges and gourmet markets throughout several major airports across the United States, including JFK International, Philadelphia International, LaGuardia, Boston's Logan International and Washington, D.C.'s Ronald Reagan International.
Situation

Situation

OTG was recently awarded the contract to be the sole food concession provider at JetBlue's new terminal at JFK Airport. OTG retained professionals from SSG to obtain financing for the build-out of OTG's concepts at the new JetBlue Terminal as well as providing capital for pre-opening and start-up costs.
Solution

Solution

Professionals at SSG marketed the Company to a wide range of traditional and alternative lenders, ultimately securing $62 million in financing consisting of a $5 million revolving credit facility and $20 million term loan secured by a first lien on all assets of OTG and a $37 million construction loan secured by a second lien on all of OTG's assets.
June 2008
$15,000,000
Revolving Credit Facility
$20,000,000
First Lien Term Loan
$37,000,000
The undersigned acted as Investment Banker to
OTG Management, Inc. on this transaction.

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

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New York
(212) 786-7432

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