WASHINGTON, D.C. – Farragut Capital Partners, Inc. ("Farragut") is pleased to announce the closing of a debt investment in City Tap House, LLC, a portfolio company of Larsen MacColl Partners. The investment was used to refinance existing debt and support growth initiatives. The investment was made out of Farragut's latest investment vehicle, Farragut SBIC Fund II, LP.
Launched with a single location in Philadelphia in 2010, City Tap House is a craft beer and restaurant concept serving high-quality food and a best-in-class beer selection in a casual upscale setting. City Tap House currently operates eight restaurants - two in Philadelphia, two in Washington, D.C., and one each in Boston, Nashville, Atlanta, and Chicago - and will open an additional location in Loudon, Virginia later this year.
Phil McNeill led the transaction for Farragut. "We're excited to partner with Larsen MacColl and City Tap House, which is a well-established concept with broad consumer appeal in desirable markets," he said. "City Tap House is rapidly expanding its footprint, and we believe this transaction positions the company to capitalize on some exciting opportunities ahead."
Farragut was advised on the transaction by the legal team at McGuireWoods.