News

The M&A Advisor, a leading information publisher for middle-market mergers and acquisitions and finance, announced the 2009 finalists for the 3rd Annual Turnaround Awards Gala.  Farlie Turner & Co., for its role in advising CCI, Inc. et. al. (a franchisee of TGI Friday’s restaurants), is pleased to announce that it was named as a finalist in the Distressed M&A Deal of the Year category.

Steven Zuckerman, Head of Farlie Turner’s Special Situation Group, noted: “In light of the successful outcome of the transaction, which was achieved despite a very challenging economic climate and significant distress in the restaurant industry in particular, we are very pleased to see the transaction nominated as a finalist in this year’s Turnaround Awards Gala.”

Farlie Turner & Co.’s Special Situations Group advised CCI, Inc. et. al, the largest TGI Friday’s franchisee in Florida,  in a going concern sale under Section 363 of the Bankruptcy Code,  CCI had twelve restaurants in Florida and another five in New York. The company was purchased by a subsidiary of SRAC Holdings I, Inc. an affiliate of private equity giant Cerberus Capital Management, L.P.

Farlie Turner & Co.’s Special Situations Group provides investment banking, capital raising and financial advisory services to middle-market companies experiencing financial difficulties, ranging from underperforming to significantly distressed businesses.  The group complements Farlie Turner & Co.'s existing investment banking practice, which focuses on serving growth-oriented middle market companies with enterprise values typically between $30 and $300 million.