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Representative Transactions
A track record built on complex M&A, capital origination, debt and corporate restructurings, and interim leadership engagements.
With intricate knowledge of industry performance, best practices, enterprise valuation trends, and other major capital market issues — supported by an expansive network of M&A and capital market participants — our team has completed:
- Complex mergers and acquisitions
- The origination of debt and equity securities
- Complex debt and corporate restructurings (both in and out of court)
- Interim operational and leadership engagements designed to achieve operational efficiency, improve profitability, and maximize business enterprise value
Transactions below are grouped by service type and ordered by size, largest first. The tombstones shown are a representative selection of the firm’s engagements.
Sell-Side M&A
Representative Transactions
$1.9BSell‑Side M&A
Advised TravelCenters of America in the sale of 160 travel center locations.
$71MMSell‑Side M&A
Advised Getty Petroleum in the sale of multiple locations to Lukoil.
$65MMSell‑Side M&A
Advised US Leader LLC in the sale of its Orlando, FL portfolio to a private equity fund.
$58MMSell‑Side M&A
Advised Mr. Gatti’s Pizza in a majority equity sale to OneRyan Global, LLC.
$52MMSell‑Side M&A
Advised Mitra QSR Holdings in the sale of a portfolio of Taco Bell & KFC locations to Taco Bell Corp. and KFC Corp.
$50MMSell‑Side Real Estate
Advised In Manus Dae, LLC in the sale of its fee simple interest in triple net leased 7‑Eleven locations to various retail investors.
$45MMSell‑Side M&A
Advised Kiel Bros. Oil Co. Inc. in a Chapter 11 proceeding and Section 363 sale of 80 locations.
$45MMSell‑Side M&A
Advised Ram International, LLC in an asset rationalization and liquidity strategy involving 26 RAM and C.B. Potts locations.
$43MMSell‑Side M&A
Advised HKM in the majority sale of its Las Vegas, NV portfolio.
$43MMSell‑Side M&A
Advised Food Fast Corporation in the sale to Fikes Wholesale, Inc.
$42MMSell‑Side M&A
Advised US Leader in the management buyout of its Taco Bell locations.
$37MMSell‑Side M&A
Advised HKM in the majority sale of its Sacramento, CA portfolio.
$33MMSell‑Side M&A
Advised Hoosier Automotive Services, LLC in the sale of 51 Jiffy Lube locations in Indiana.
$27.5MMSell‑Side M&A
Advised Sailormen, Inc. in the sale of 42 Popeyes locations.
$14MMSell‑Side M&A
Advised Southern King in the sale of 25 Burger King locations.
$12MMSell‑Side M&A
Advised Bonzai Express St. Louis, Inc. in the sale of Crazy Bowls & Wraps.
$9MMSell‑Side M&A
Advised Whitehurst Management in the sale of its Burger King locations.
$8MMSell‑Side M&A
Advised Ram International, LLC in the sale-leaseback and subsequent sale of leasehold assets of 8 Humperdink’s locations.
$6MMSell‑Side M&A
Advised Sailormen, Inc. in the sale of 9 Popeyes locations.
$3.5MMSell‑Side M&A
Advised NorCal MSG in the sale of 5 Moe’s Southwest Grill locations.
Buy-Side M&A
Representative Transactions
$880MMBuy‑Side M&A
Advised Couche-Tard, Inc. in the acquisition of Circle K Stores, Inc. from ConocoPhillips.
$325MMBuy‑Side M&A
Advised Fortress Investment Group in the acquisition of Church’s Chicken.
$184MMBuy‑Side M&A
Advised Taco Bell Corp in the acquisition of 33 locations in Jacksonville, FL.
$180MMBuy‑Side M&A
Advised Couche-Tard, Inc. in the acquisition of 225 retail assets from Johnson Oil Corp.
$150MMBuy‑Side M&A
Advised Circle K Stores Inc. in the acquisition of 236 retail assets from Shell Oil.
$140MMBuy‑Side M&A
Advised Circle K Stores Inc. in the acquisition of 90 retail assets from Spectrum Stores, Inc.
$120MMBuy‑Side M&A
Advised Taco Bell Corp in the acquisition of 23 locations in Greenville, SC.
$120MMBuy‑Side M&A
Advised Taco Bell Corp in the acquisition of 20 locations in Fort Myers, FL.
$100MMBuy‑Side M&A
Advised Taco Bell Corp in the acquisition of 21 locations in Gainesville, FL.
$90MMBuy‑Side M&A
Advised Taco Bell Corp in the acquisition of 22 locations in Miami, FL.
$85MMBuy‑Side M&A
Advised Jacobson Partners in the acquisition of Taco Bueno Restaurants.
$79.5MMBuy‑Side M&A
Advised Couche-Tard, Inc. in the acquisition of 287 Dairy Mart retail assets in a Section 363 bankruptcy process.
$60MMBuy‑Side M&A
Advised Taco Bell Corp in the acquisition of 10 locations in West Palm Beach, FL.
$55MMBuy‑Side M&A
Advised Taco Bell Corp in the acquisition of Atlanta franchisee, Mahamitra, LLC.
$42MMBuy‑Side M&A
Advised Circle K Stores Inc. in the acquisition of Holland Oil Company.
$25MMBuy‑Side M&A
Advised Diya Popeyes in the financing and acquisition of 22 Popeyes locations in Michigan.
$25MMBuy‑Side M&A
Advised FMC Global Satellite in the acquisition of Santander Teleport.
$18MMBuy‑Side M&A
Advised Circle K Stores Inc. in the acquisition of Sterling Stores, Inc.
$18MMBuy‑Side M&A
Advised Circle K Stores Inc. in the acquisition of 22 retail assets from Shell Oil.
$15MMBuy‑Side M&A
Advised Mongolian Concepts in the acquisition of bd’s Mongolian Grill and Flat Top Grill.
$10MMBuy‑Side M&A
Advised O’Dell Oil Co. in the acquisition of 10 convenience store and retail petroleum locations from Sunoco, Inc.
$4MMBuy‑Side M&A
Advised Mongolian Houston in the acquisition of 8 Genghis Grill locations.
Recapitalization & Corporate Finance
Representative Transactions
$206MMRecapitalization
Advised Couche-Tard, Inc. in the recapitalization and procurement of senior debt of the Company.
$147MMRecapitalization & Sale‑Leaseback
Advised Unimart in the recapitalization of the Company’s balance sheet and sale-leaseback to a public REIT.
$125MMRecapitalization
Advised Diya Raishaan Holdings LLC in the procurement of senior financing to recapitalize the Company’s balance sheet and provide development financing.
Advised Whitewater Holdings, Inc. Car Wash in the recapitalization of the Company’s balance sheet and sale-leaseback to a public REIT.
$106MMRecapitalization & Sale‑Leaseback
Advised Sailormen, Inc. in the recapitalization of the Company’s balance sheet and sale-leaseback to a public REIT.
$95MMRecapitalization & Sale‑Leaseback
Advised Platinum Corral LLC in the recapitalization of the Company’s balance sheet and sale-leaseback to a public REIT.
$90MMAcquisition Financing
Advised SB Gas and Wash Management, Inc. in the acquisition and sale-leaseback of 75 convenience store, retail gasoline and car wash locations.
$74.5MMRecapitalization
Advised Sailormen, Inc. in the procurement of senior financing to recapitalize the Company’s balance sheet.
$53MMRecapitalization
Advised Road Ranger, LLC in the procurement of senior financing to recapitalize the Company’s balance sheet.
Advised New West Petroleum, Inc. in the restructuring of the Company’s senior debt obligations.
$33MMRecapitalization
Advised Mr. Gatti’s Pizza in the recapitalization of the Company’s balance sheet.
$26MMRecapitalization
Advised Melanbo Holdco, LLC in the procurement of senior financing to recapitalize the Company’s balance sheet and provide development financing.
$23MMRecapitalization
Advised Food Fast Corporation in the procurement of senior financing to recapitalize the Company’s balance sheet.
$20MMRecapitalization
Advised Diya Sandwiches in the recapitalization of the Company’s balance sheet.
$19MMRecapitalization
Advised Diza Hospitality in the procurement of senior financing to recapitalize the Company’s balance sheet and provide development financing.
$12MMRecapitalization
Advised Mongolian Concepts in the procurement of senior financing to recapitalize the Company’s balance sheet.
Sale-Leaseback
Representative Transactions
$600MMSale‑Leaseback
Advised Couche-Tard, Inc. in the sale-leaseback of 322 retail assets to institutional investors and a public REIT.
$600MMSale‑Leaseback
Advised Circle K Stores Inc. in the sale-leaseback of 350 retail assets to multiple individual investors.
$450MMSale‑Leaseback
Advised Couche-Tard, Inc. in the sale-leaseback of 350 Circle K retail assets to multiple individual investors.
$275MMSale‑Leaseback
Advised Fortress Investment Group in the sale-leaseback of real property assets.
$200MMSale‑Leaseback
Advised Couche-Tard, Inc. in the sale-leaseback of 120 retail assets to institutional investors and a public REIT.
$61.4MMSale‑Leaseback
Advised Road Ranger, LLC in the sale-leaseback of 18 locations to a public REIT.
$18.5MMSale‑Leaseback
Advised Oregano’s Pizza Bistro, Inc. in the recapitalization of the corporate balance sheet and sale-leaseback of real property assets.
$10MMSale‑Leaseback
Advised Oregano’s Pizza Bistro, Inc. in the recapitalization of the corporate balance sheet and sale-leaseback of real property assets.
$8MMSale‑Leaseback
Advised Sailormen, Inc. in the sale-leaseback of 6 Popeyes locations.
Restructuring & Distressed Advisory
Representative Transactions
$120MMRestructuring
Advised a confidential client in the restructuring of the Company’s balance sheet.
$110MMRestructuring
Advised a confidential client in the restructuring of the Company’s balance sheet.
$26MMDistressed Advisory
Advised Platinum Corral as its court-approved financial and real estate advisor in Chapter 11 bankruptcy proceedings and plan of reorganization.
$24MMRestructuring
Advised PJCOMN Acquisition Corp. in a Chapter 11 bankruptcy proceeding and subsequent 363 sale of assets.
$14MMReceivership
Court-appointed Receiver and exclusive financial advisor for an estate of 18 franchised Popeyes restaurants in MD, DE and PA.
$12MMRestructuring
Chief Restructuring Officer and sole financial advisor to Waterloo Restaurant Ventures, Inc. (25 locations).
$8MMRestructuring
Advised South Bay Lube, Inc., a multi-unit Jiffy Lube franchisee, in a Chapter 11 proceeding and plan of reorganization.
$6MMReceivership
Court-appointed Receiver and exclusive financial advisor for an estate of 10 franchised Burger King restaurants in California.
Principal Lending
Representative Transactions
$75MMPrincipal Lender
Provided senior financing to Tacala related to 125 Taco Bell locations.
$70MMPrincipal Lender
Provided senior financing to CL Thomas in the refinancing of 96 Speedy Stop locations.
$60MMPrincipal Lender
Provided senior financing to Town and Country in the refinancing of 141 Town & Country locations.
$45MMPrincipal Lender
Provided senior financing to Friendly Franchisee in the acquisition of 60 Carl’s Jr. locations.
$22MMPrincipal Lender
Provided senior financing to RAM International for 28 RAM and C.B. Potts locations.
$22MMPrincipal Lender
Provided senior financing to a confidential borrower in the acquisition of Lotaburger Restaurant Company.
$21.5MMPrincipal Lender
Provided senior real estate financing to Sovereign Investments in the acquisition of the fee simple interests in 12 Krispy Kreme locations.
$21MMPrincipal Lender
Provided senior financing to a confidential borrower in the acquisition of 35 Hardee’s locations.
$18MMPrincipal Lender
Provided senior financing to J&B Restaurants in the acquisition of 35 Friendly’s locations.
$17.5MMPrincipal Lender
Provided senior financing to Farooqi in the acquisition of 34 Carl’s Jr. locations.
$15.8MMPrincipal Lender
Provided senior acquisition financing to RMG in the acquisition of 55 Hardee’s locations.
$14MMPrincipal Lender
Provided senior acquisition financing to ORG Restaurants in the acquisition of the Original Roadhouse Restaurants.
$13.2MMPrincipal Lender
Provided senior acquisition financing to M&N Foods in the acquisition of 28 Carl’s Jr. locations.
$8MMPrincipal Lender
Provided senior acquisition financing to a confidential borrower in the acquisition of 15 Taco Bell locations.
Other Transaction Experience
Representative Transactions
$600MMPrincipal Securitization
Principal in the securitization of a multi-branded retail loan portfolio to institutional investors.
$500MMPrincipal Securitization
Principal in the securitization of a multi-branded retail loan portfolio to institutional investors.
$250MMPrincipal Lender
Advised Fortress Investment Group, CalPERS and WRI Realty in the financing of a 10,000-acre land development.
$180MMPrincipal Lender
Acted as an advisor to Goldman Sachs in the acquisition of a medical student loan portfolio.
$82.9MMPrincipal Lender
Advised Fortress Investment Group in the financing to Pioneer Water Resources related to 6,200 acre-feet of water rights.
$40MMBoard Advisory
Appointed to the Independent Board of Directors of HRI, advising through bankruptcy and the sale of all assets to Landry’s, Inc.
$26MMPrincipal Lender
Advised Fortress Investment Group in the financing of a 575-acre land development.
$10MMCorporate Finance
Advised Posse in several corporate finance transactions.