Comwest Credit Partners Offers New $100MM Credit Facility for Ojos Locos

Comvest Credit Partners Acted as administrative agent and sole lender in providing a new $100 million senior secured loan facility to Ojos Locos, LLC, a Dallas-based restaurant chain operator in Comwest’s direct lending portfolio. The financing will be used to support Ojos Locos’ working capital and development needs. Comwest also made an equity co-investment in the company.

Established in 2010, Ojos Locos operates a chain of popular Mexican-themed sports bars and restaurants under the “Ojos Locos Sports Cantina” brand. Ojos Locos focuses primarily on Hispanic markets, offering Latin-influenced cuisine and wall-to-wall TVs featuring popular sporting events. The company has grown to more than 20 locations in Texas, Arizona and New Mexico.

“Comwest has a proven history as a credit provider for high-performing, founder-led companies in the lucrative niche restaurant markets,” said Dan Lee, a partner at Comwest. “Ojos Locos, the ‘favorite’ restaurant of many of its clients, has grown steadily under its long-standing management team, more than doubling its locations in just a few years. Comwest’s deep field expertise and our portfolio companies We are proud to have the ability to provide sufficient additional capital for their continued expansion needs.”

“Over the past four years, Comwest has demonstrated a strong understanding of our business and operational needs,” said Rich Hicks, founder and CEO of Ojos Locos. “As a result, Comwest structured a tailored loan package that enables Ojos Locos to be both timely and aggressive in executing our continued growth initiatives in the southwestern United States.”