Allied Capital Corporation (NYSE:ALD) announced that it has provided $164 million of financing facilities for the management-led recapitalization of Hot Stuff Foods. Hot Stuff Foods is a leading provider of branded "Food on the Go" foodservice solutions to a broad customer base, including convenience stores, military bases, and educational institutions throughout the United States and abroad. Allied Capital's investment took the form of senior debt, subordinated debt, junior subordinated debt, and non-voting common equity. The company's senior management team re-invested a significant portion of its equity ownership into the voting stock of the business. AC Finance LLC, Allied Capital's senior loan underwriting group, will distribute the senior term loan and revolver post-closing.
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