C Squared Advisors Announces Recent Transaction Closings

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RestaurantNews.com

C Squared Advisors Announces Recent Transaction Closings

Southern Pines, NC  (RestaurantNews.com)  C Squared Advisors, an industry focused independent investment bank that provides financial and transaction advisory services to multi-unit owners in the restaurant and franchise industries, today announced its recent transaction closings.

C Squared recapitalizes VIM Holdings, Inc.; secured development capital for 2019 and 2020 projects. 

VIM Holdings, Inc. (VIM), one of the largest franchisees in the rapidly growing 300+ unit First Watch system, recapitalized its existing debt facilities and secured financing for an aggressive expansion plan in 2019 and 2020.  Huntington National Bank provided the financing.  VIM, led by long-time industry operator Bob Frame and restaurant entrepreneur and beverage consultant Jeff Schenk, has expanded aggressively in North Carolina. The new credit facility provides VIM with the long-term capital needed to expand its restaurant count over the next 18 months.

Jeff Schenk commented, “I have known Carty and C Squared for some time but have not had the direct experience in working with their team. They did everything they represented and delivered a facility that exceeded our expectations.”  Bob Frame indicated that the facility allows VIM to focus on developing and managing restaurants and said, “Huntington and C Squared worked well together on finding the best solution for our development needs. We now have the capital to grow so we can operate restaurants.”

C Squared advises Shanks Family on the sale of minority interest in 48-unit Wendy’s business. 

C Squared represented the family and estate of John Shanks, a former managing partner of Fourjay, L.L.C., a 48-unit Wendy’s franchisee headquartered in Memphis, TN, on the sale of their interest to the majority owner of the company.  C Squared reviewed various alternatives with the family before electing to sell to the majority owner.  C Squared is also managing a review and partial disposition of the family’s real estate holdings as part their estate plans.  Wilson Barton, who represented the Shanks family, commented, “Carty and Pat know this industry like the back of their hand.  They were knowledgeable about valuation and capital parameters and Wendy’s transactions. They were also very responsive and easy to work with.  Carty and Pat surpassed our expectations on timing and valuation and provided solid advice throughout the process.  There is no one I would rather go through this with but these guys.  We will use them again for sure.”

C Squared recapitalizes Calhoun Management Corporation; secured capital for 2019 projects. 

Calhoun Management Corporation, a 60-unit Wendy’s franchisee headquartered in Clemson, SC, extended its existing credit facility with City National Bank and secured development and remodeling capital for its 2019 projects. Calhoun and its founder and President, Pick Lindsay have utilized Carty’s, Pat’s, and C Squared’s expertise for years going back to when Carty financed Calhoun’s initial four-store Wendy’s acquisition almost 20 years ago. Pat also worked with Pick on numerous transactions while at Wendy’s. Pick indicated, ”I have known Carty and Pat for years. Their expertise and knowledge of lenders, Wendy’s, and how to position our company has proven invaluable. We trust their advice and have retained C Squared to provide ongoing financial assistance.”

About C Squared Advisors

C Squared Advisors is an industry focused independent investment bank that provides financial and transaction advisory services to multi-unit owners in the restaurant and franchise industries.  C Squared Advisors manages sell-side, buy-side, refranchising and recapitalization transactions by presenting comprehensive solutions and flexible alternatives while maximizing value for its clients.  For more information about C Squared Advisors, please visit our website at www.c2advisorygroup.com or contact a member of our team.

Contact

Carty Davis / 910-528-1931 / carty@c2advisorygroup.com
Dan Connelly / 617-784-7866 / dan@c2advisorygroup.com
Patrick McCauley / 614-787-2576 / patrick@c2advisorygroup.com
Brent Elsass / 937-623-6121 / brent@c2advisorygroup.com