GE Capital Franchise Finance announced it served as administrative agent on a $45 million senior secured credit facility to The Saxton Group, the largest McAlister’s Deli franchisee. GE Capital Markets served as sole lead arranger and sole bookrunner.

The Saxton Group used the funds to refinance existing debt, redeem outstanding privately-held shares and buy out minority shareholders; the remaining capital will be used for growth.

“The Saxton Group’s focus on operational excellence and the customer has delivered strong financial performance up to this point,” said Bill Kraus, a senior managing director with GE Capital, Franchise Finance. ”We recognize the company’s dynamic growth potential and look forward to being a part of their success story going forward.”

Dallas-based McAlister’s is a fast casual restaurant chain known for providing American regional favorites. In total, the McAlister’s system, which is approximately 85% franchised, is comprised of 338 restaurants in 24 states.