Olympus Dividend Recaps K-Mac
December 2, 2009- Share:
Olympus Partners has completed a $110 million recapitalization of its portfolio company K-Mac Enterprises. $59 million of the refinancing is being used to pay a dividend to the company's shareholders. Following the recap the company has a leverage ratio of approximately 2.5x EBITDA. K-Mac is the second-largest Taco Bell franchisee with 130 restaurants. The franchise owner also possesses 46 Kentucky Fried Chicken and Golden Corral stores. Olympus acquired K-Mac in 2005 for $220 million.
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