Trinity Capital recently tapped into the favorable conditions for optimizing sales and financing to manage, negotiate and close the sale of Norm’s Restaurants Inc., an iconic Southern California family-style dining chain with 18 locations.
Trinity, a Los Angeles-based boutique investment firm, served as the exclusive financial advisor to Norm’s Restaurants, managing the sale process, including the preparation of marketing materials, completion of a competitive auction, selection of the winning bidder, negotiation of the purchase price and transaction closing.
Philip Singerman, President of Norm’s Restaurants, Inc., said of the process: “Norm’s was a family-owned business for 65 years, and the decision to sell the company was very difficult for our shareholders. Trinity Capital ran an excellent sale process that generated substantial interest and delivered an exceptional outcome.”
Singerman added, “Trinity Capital expertly navigated the closing of a very complicated transaction. We are pleased with the conclusion of this sale and look forward to the ongoing success of Norm’s Restaurants.”
Norm’s Restaurants made its debut in 1949 with the opening of its first coffee shop in Hollywood. Open 24 hours a day, seven days, and serving scratch-made menu items for breakfast, lunch, dinner and in between, Norm’s Restaurants are neighborhood destinations for good food and welcoming service.
Robert Woolway, a managing director of Trinity Capital, said, “Restaurant valuations are flirting with all-time highs, driven by plentiful bank financing, low interest rates and buyers with ample capital to close transactions. Now is a good time to sell, if that’s your exit strategy, and while valuations are still attractive.”
Trinity Capital provides financial advice to middle market businesses regarding mergers and acquisitions, leveraged and management buyouts, debt restructuring and private placements of debt and equity. The firm, a FINRA-regulated financial advisor, combines Wall Street experience and investor relationships with boutique client service and has deep sector expertise in restaurants, consumer/retail, food and beverage, and other industries. Trinity is headquartered in Los Angeles with offices in Boston. For more information visit http://www.trinitycapitalllc.com.