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SServant Investments Completes Sale-Leaseback Transaction With Damon’s Grill
(ORLANDO, FL) March 12, 2007 -
Servant Investments, LLC (“Servant”) announces the acquisition of 7 Damon’s Grill casual dining restaurants from Damon’s Restaurants of America, Inc., Damon’s Restaurants, Inc., and Bachelor Gulch, LLC, an affiliate of Damon’s. The stores are located in the greater metropolitan areas of Cleveland, OH and Pittsburgh, PA as well as Lexington Park, MD. This acquisition comprises one of the final pieces of the nation-wide revamping of the Damon’s brand and the recapitalization of their corporate balance sheet.
“We developed an incredible level of trust in the Servant team through this transaction,” said Larry Fox, Development Associate for Alliance Development Group, the parent company of Damon’s International. “Rick Steinberger (Servant’s Managing Partner) provided restaurant expertise and industry insight to the deal, which resulted in an excellent outcome for us. We are already discussing the expansion of our brand with them as a partner.”
Damon’s International operates and franchises more than 90 Damon’s Grill restaurants in 24 states, primarily in the Midwest (www.damons.com). Its eateries feature prime rib, grilled steaks, chicken, seafood and Damon’s award-winning ribs. Guests enjoy a quiet dining room or Damon's high-energy Clubhouse that features DTV, a proprietary, state-of-the-art multi-screen entertainment system offering sports, network programming and interactive games.
Servant Investments is a private equity real estate investment firm, headquartered in Orlando, Florida, offering a powerful combination of strategic capital solutions to developers and owner operators on a national basis. Founders Rick Steinberger and Robb Chapin bring a combined 35 years of real estate investment experience and deliver new and creative capital efficiencies to a wide variety of asset classes and development types, ranging in total project size from $1 million to over $150 million.
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