Representative Transactions from Trinity Capital, a division of Citizens Capital Markets | Trinity Capital, a division of Citizens Capital Markets

World Wide Wings

World Wide Wings completed a recapitalization of 65 Buffalo Wild Wings Sports Bars in California, Pacific Northwest and Midwest

World Wide Wings

Transaction Overview

Trinity Capital, a division of Citizens Capital Markets, served as the exclusive financial advisor to World Wide Wings, the second largest franchisee in the Buffalo Wild Wings system and a portfolio company of Partners Group, a leading global private markets firm, on the recapitalization of its 65 sports bars across several states in the Pacific Northwest, Midwest and California. This recapitalization follows Partners Group’s initial investment in 2015 when they acquired a majority stake in World Wide Wings and its affiliate, Pacific Bells, a franchisee of 275+ Taco Bells. Partners Group exited its Pacific Bells investment in 2021 and, with this transaction, exits its investment in World Wide Wings. Trinity Capital advised on both transactions

Transaction Testimonial

"Since inception, we’ve assembled a highly capable and dedicated team that strives to deliver an exceptional guest experience day in and day out. This transaction firmly positions World Wide Wings to capitalize on growth opportunities and allows us to continue delivering a world-class customer experience. Trinity Capital once again rose to the occasion and delivered results on a transaction while overcoming many hurdles. Trinity’s unmatched industry knowledge and professionalism make them an ideal advisor. "

TOM COOK, Chairman & CEO, World Wide Wings

World Wide Wings

a Franchise of Buffalo Wild Wings completed a recapitalization

Partners Group

Pacific Wings, Inc.

Pacific Wings, Inc. a franchisee of Buffalo Wild Wings sold assets to Grube, Inc.

Pacific Wings, Inc.

Transaction Overview

Trinity Capital, a division of Citizens Capital Markets, Inc., served as the exclusive financial advisor to Pacific Wings, Inc., a Buffalo Wild Wings franchisee in Southern California, on the sale of its restaurants to Grube, Inc., the third largest franchisee of Buffalo Wild Wings in terms of unit count. Trinity conducted an auction process that produced an exceptional result and advised the seller on all aspects of the transaction.

Transaction Testimonial

"We have been franchisees of Buffalo Wild Wings for more than 10 years, and selling our business was a big decision. We selected Trinity based on their experience with the brand and reputation in the industry. Our business was a unique asset, and only through Trinity’s relationships and expertise were we able to garner a strong valuation and realize the fruits of our labor. We received senior-level attention each step of the way and are very pleased with the outcome. Our people are extremely important to us, and we feel confident that they will be well taken care of within the Grube organization. We wish them the best of luck going forward"

John Kotsiopoulos and Tony Prokos, Owners of Pacific Wings, Inc.

Pacific Wings, Inc.

RC Group, LLC

RC Group, LLC, a franchisee of Taco Bell, KFC, Pizza Hit and Long John Silver's completed the sale of 58 Taco Bell restaurants and one KFC restaurant in Atlanta

RC Group, LLC

Transaction Overview

Trinity Capital, a division of Citizens Capital Markets, served as the exclusive financial advisor to RC Group, LLC, a franchisee of Taco Bell, KFC, Pizza Hut and Long John Silver’s, on the sale of 58 Taco Bell restaurants and one KFC restaurant in Atlanta. The RC Group was owned by longtime franchisee Bob Carlucci, who has been in the Taco Bell system for more than 35 years.

Transaction Testimonial

"Bob has been a leader in the Taco Bell brand for many decades and has demonstrated success across multiple geographies. This is an important transaction for him and his family and its success underscores the expertise and deep relationships the Trinity team has built over many decades."

Zach Olson, Managing Director, Trinity Capital

RC Group, LLC

a franchisee of Taco Bell, KFC, Pizza Hit and Long John Silver's completed the sale of 58 Taco Bell restaurants and one KFC restaurant in Atlanta

Scanlan Management, LLC & Blue Pacific Guam, LLC

Scanlan Management, LLC & Blue Pacific Guam, LLC has completed a sale of stores to PARS Group, LLC

Scanlan Management, LLC & Blue Pacific Guam, LLC

Transaction Overview

Trinity Capital, a division of Citizens Capital Markets, served as the exclusive financial advisor to Scanlan Management LLC & Blue Pacific Guam LLC, a franchisee of Jack in the Box, on its sale to PARS Group, LLC and as the exclusive financial advisor to JJC Hawaii LLC, a licensee of Jamba, on its sale to Fresh Dining Concepts. Seattle-based Jack in the Box franchisee, PARS Group LLC, acquired 28 Jack in the Box restaurants in Hawaii and two in Guam, plus two locations in various stages of being developed and opened on Oahu and Guam. Miami-based Fresh Dining Concepts, the largest franchisee of Focus Brands, acquired 27 Jamba locations in Hawaii, plus four locations in various stages of being developed and opened on Oahu and Maui, including the brand’s first drive-thru only location.

Transaction Testimonial

"We are proud of the organization we have built and its success. We are also proud to have provided opportunities to hundreds of local employees for the last 15 years. In addition, we could not be more impressed with Trinity’s capabilities in advising us in completing the sale of our companies. They were incredibly meticulous and thoughtful when it came to recommending solutions to the numerous complex issues that we faced throughout the transactions. Their forward-thinking analytical expertise, integrity and the discretion they displayed to our team and our franchise partners were second to none and proved to be invaluable in optimizing the outcome for our sale process. We cannot express enough our gratitude for their passion, persistence and guidance. We would enthusiastically recommend that anyone considering a transaction hire Trinity as their advisor."

Chris Scanlan

Scanlan Management, LLC & Blue Pacific Guam, LLC

a Franchisee of Jack in the Box has completed a sale of stores to PARS Group, LLC

Smart Management & Co., Inc. & Marlu Group

Smart Management & Co., Inc. & Marlu Group, a Franchisee of Arby's, has completed a sale of stores to Ambrosia QSR

Smart Management & Co., Inc. & Marlu Group

Transaction Overview

Trinity Capital, a division of Citizens Capital Markets, served as the exclusive financial advisor to a California-based franchisee group managed by the Lutfi Family, on the sale of 48 Arby’s restaurants located in Washington, Oregon and Southern California. The restaurants were acquired by Ambrosia QSR, a multi-brand operating company led by Luke Pisors, who once served as Senior Vice President at the Arby's brand. Ambrosia QSR, based in Vancouver WA, will operate the acquired locations along with their current portfolio.

Transaction Testimonial

"My family and I want to offer our warmest wishes to Ambrosia QSR, along with their team and partners. I also want to recognize the entire team of Trinity for having the patience in working with us to achieve this outcome; always handling matters with the highest standards of integrity and diligence. I cannot say enough for the appreciation we have for David’s advice and counsel."

Tony Lufti, Marlu Group President

Smart Management & Co., Inc. & Marlu Group

A Franchisee of Arby's has completed a sale of stores to Ambrosia QSR

JJC Hawaii, LLC

JJC Hawaii, LLC, a licensee of Jamba Juice has completed a sale of stores to Fresh Dining Concepts

JJC Hawaii, LLC

Transaction Overview

Trinity Capital, a division of Citizens Capital Markets, served as the exclusive financial advisor to Scanlan Management LLC & Blue Pacific Guam LLC, a franchisee of Jack in the Box, on its sale to PARS Group, LLC and as the exclusive financial advisor to JJC Hawaii LLC, a licensee of Jamba, on its sale to Fresh Dining Concepts. Seattle-based Jack in the Box franchisee, PARS Group LLC, acquired 28 Jack in the Box restaurants in Hawaii and two in Guam, plus two locations in various stages of being developed and opened on Oahu and Guam. Miami-based Fresh Dining Concepts, the largest franchisee of Focus Brands, acquired 27 Jamba locations in Hawaii, plus four locations in various stages of being developed and opened on Oahu and Maui, including the brand’s first drive-thru only location.

Transaction Testimonial

"“We are proud of the organization we have built and its success. We are also proud to have provided opportunities to hundreds of local employees for the last 15 years. In addition, we could not be more impressed with Trinity’s capabilities in advising us in completing the sale of our companies. They were incredibly meticulous and thoughtful when it came to recommending solutions to the numerous complex issues that we faced throughout the transactions. Their forward-thinking analytical expertise, integrity and the discretion they displayed to our team and our franchise partners were second to none and proved to be invaluable in optimizing the outcome for our sale process. We cannot express enough our gratitude for their passion, persistence and guidance. We would enthusiastically recommend that anyone considering a transaction hire Trinity as their advisor.” "

Chris Scanlan, CEO, Scanlan Management LLC

JJC Hawaii, LLC

a licensee of Jamba Juice has completed a sale of stores to Fresh Dining Concepts

Jan Co., Inc.

Jan Co., Inc, a franchisee of Burger King has completed a sale of its restaurants to JSC Management Group LLC

Jan Co., Inc.

Transaction Overview

Trinity Capital, a division of Citizens Capital Markets, Inc., served as the exclusive financial advisor to Jan Co., Inc. (the “Company”), a Burger King franchisee in Rhode Island, Massachusetts and Connecticut, on the sale of 47 restaurants to JSC Management Group LLC. Trinity’s team orchestrated a tailored sale process and successfully guided the Company and its stakeholders through due diligence, purchase and sale agreement negotiations and the franchisor approval process.

Transaction Testimonial

"Given Trinity’s reputation in the restaurant industry, we put our trust in their team to advise us on the sale of our Burger King restaurants in the Northeast. From the outset of the process, their team played a critical role in navigating complex negotiations and dynamics to ensure a successful outcome. Hiring the right advisor when selling your business is important and we would highly recommend Trinity’s services to others."

-Bill Janikies, President

Jan Co., Inc.

a franchisee of Burger King has completed a sale of its restaurants to

JSC Management Group LLC

El Apple, LLC

El Apple, LLC, a franchisee of Applebee's has completed a sale of its assets to Lone Star Apple, LLC.

El Apple, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to El Apple, LLC (the “Company”), an Applebee’s franchisee with 10 locations in El Paso, Texas, and Las Cruces, New Mexico, on the sale of its restaurants to Lone Star Apple, LLC. Trinity conducted a competitive auction process, guided the Company through due diligence and negotiation of the purchase agreement and helped navigate the franchisor approval process, including the introduction of a new franchisee to the Applebee’s system.

Transaction Testimonial

"We hired Trinity Capital to assist us in selling our Applebee’s business, in part, because with all of the success they have had assisting the parent organization and its Applebee’s franchisees, we were confident that their knowledge of the category and brand would prove to be a distinct advantage in our sale process. Aside from that, I was impressed with Trinity’s responsiveness and precision with their analytics and unique buyer universe. I really valued their reasonable and logical approach to the challenges that surfaced along the way. Trinity proved to be critical to our successful transaction. Their advice, experience and counsel were extremely helpful to me and their efforts were very much appreciated."

-Jim Gore, CEO

El Apple, LLC

a franchisee of Applebee's has completed a sale of its assets to

Lone Star Apple, LLC

Roseville Car Wash LLC

Roseville Car Wash LLC has completed a sale of its assets to American & Canadian Group LLC

Roseville Car Wash LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Roseville Car Wash, DBA Bob’s Car Wash and Detail located in Roseville, California. Trinity facilitated an extensive marketing process and an expeditious close. The transaction included the sale of the business assets as well as the related real estate.

Transaction Testimonial

"Trinity played a vital role in completing the successful sale of our family business. We chose Trinity because of their relevant experience in the car wash industry. Trinity was with us every step of the way and provided invaluable guidance. It was a pleasure to work with them and I would recommend them to anyone looking to sell their business."

-Mark van Overbeek, Owner

Roseville Car Wash LLC

has completed a sale of its assets to

American & Canadian Group LLC

The Cain Holding Group, LLC

The Cain Holding Group, LLC, a franchisee of Panera Bread, has completed a sale of its assets to EYM Café of Texas, LLC

The Cain Holding Group, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to The Cain Holding Group, LLC (the “Company”), a Panera Bread franchisee with 19 locations in Houston and West Texas, on the sale of its restaurants to EYM Café of Texas, LLC. Trinity conducted a competitive auction process, guided the Company through due diligence and negotiation of the purchase agreement and helped navigate the franchisor approval process, including the introduction of a new franchisee to the Panera system.

Transaction Testimonial

"I am extremely pleased with the outcome of the deal and very much enjoyed working with Trinity throughout the process. Selecting an advisor to sell a business you spent much of your life building is a big decision. Looking back, I know I picked the right guys. I look forward to working with Trinity for years to come."

-Chuck Cain, CEO

The Cain Holding Group, LLC

has completed a sale of its assets to

EYM Café of Texas, LLC

Luihn Four, Inc., and Lubell, Inc.

Luihn Four, Inc., and Lubell, Inc. franchisees of Taco Bell, KFC, Pizza Hut and Long John Silver’s, has completed the sale of their restaurants to Luihn VantEdge Partners.

Luihn Four, Inc., and Lubell, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Luihn Four, Inc., and Lubell, Inc. (collectively, the “Company”), franchisees of Taco Bell, KFC, Pizza Hut and Long John Silver’s, in the sale of their restaurants to Luihn VantEdge Partners. The Company operates 109 restaurants across Florida, North Carolina, South Carolina and Virginia. Trinity Capital introduced the sellers to potential investors, guided them through the due diligence process and assisted in the negotiation of the purchase agreement and helped navigate the franchisor approval process, culminating in a partnership to carry on the Company’s legacy.

Transaction Testimonial

"Trinity served as an advisor to my family for many years, so engaging Trinity to recapitalize my business was an easy choice. Throughout the process, Trinity’s professionals provided exceptional service and bedside manner. Their deep industry experience and willingness to put in long hours on our behalf helped to navigate the hurdles that arose in negotiation of the purchase agreement and closing process. Transactions are complex and time consuming, and I truly believe my family would not have realized such a successful outcome without Trinity’s services. We highly recommend Trinity to anyone seeking to sell their business. "

-Jody Luihn, CEO, Luihn Four, Inc.

Luihn Four, Inc., and Lubell, Inc.

franchisees of Taco Bell, KFC, Pizza Hut and Long John Silver’s, has completed the sale of their restaurants to

Luihn VantEdge Partners

CSM Group

CSM Group, a franchisee of Popeyes Louisiana Kitchen, Inc. has secured a term loan from BBVA Compass

CSM Group

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to CSM Group (“CSM”), a Popeyes franchisee with several restaurants in Texas, in refinancing its senior debt obligations and recapitalizing the Company for an acquisition of Popeyes restaurants. Trinity advised CSM on a new term loan with BBVA Compass

Transaction Testimonial

"A trusted colleague recommended we get in touch with Trinity to assist us with our financing needs in connection with our acquisition. We were thrilled the relationship came together so quickly. We engaged Trinity and within a month we had over a dozen competitive term sheets to consider. We were highly impressed with their capabilities and knowledge to guide us through our funding. They took on our cause as if it was their own and we very much valued their help. We would certainly recommend Trinity to any of our colleagues and look forward to working with them again."

- Ali Lakhany and Emad Lakhany, Principles at CSM

CSM Group

has secured a term loan from

Apple Gilroy, Inc.

Apple Gilroy, Inc, has completed a sale of its Applebee’s restaurants and related real estate to SSCP Management

Apple Gilroy, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Apple Gilroy, Inc., an Applebee’s franchisee with 13 restaurants in California, in the sale of its restaurants and related real estate. Trinity managed an extensive auction process and advised the Company through the deal negotiations, diligence and closing, culminating in a successful outcome for the seller.

Apple Gilroy, Inc.

has completed a sale of its Applebee's restaurants and related real estate to

T&T Sheroski No. 3, Inc.

T&T Sheroski No. 3, Inc. has completed a sale of its restaurants and related real estate to Mac Pizza LLC

T&T Sheroski No. 3, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to T&T Sheroski No. 3, Inc., a Little Caesars franchisee with 21 restaurants in Michigan, in the sale of its restaurants and related real estate. Trinity helped manage an extensive auction process, identify the ideal buyer and advise the Company through a successful transaction closing.

Transaction Testimonial

"We’ve known Trinity Capital for many years and have grown to rely on their advice and expertise. Throughout the process, Trinity managed to find creative solutions to numerous complex issues that arose. We have complete confidence in Trinity’s understanding of the industry and sale process and feel we made a great decision in selecting Trinity as our advisor. We would highly recommend Trinity to any company considering a sale."

Theresa Sheroski, Owner

T&T Sheroski No. 3, Inc.

has completed a sale of its restaurants and related real estate to

MacPizza LLC

KorMex Foods, Inc.

KorMex Foods, Inc, a franchisee of Taco Bell Corp., has completed a sale of its restaurants to Mas Restaurant Group

KorMex Foods, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to KorMex Foods, Inc., a Taco Bell franchisee with 72 restaurants in Texas, in the sale of its restaurants. Trinity managed a robust auction process, assisted in the negotiation of the purchase and navigated a complex franchisor approval, ensuring a successful transaction and delivering an exceptional outcome.

Transaction Testimonial

"We established a solid relationship over many years with Trinity Capital that allowed them to understand our business philosophy and the objective to find the right buyer. We expected the sale to be a challenge but the complexities and obstacles we had to overcome were beyond anything we had anticipated. I could not imagine this process without the guidance and leadership of Trinity Capital. Their professionalism and insights helped navigate through some very choppy waters. We are very grateful for having such a solid, strategic partner."

Phil Rhee and Oscar Saavedra, Founders of KorMex Foods, Inc.

KorMex Foods, Inc.

has completed a sale of its restaurant to Mas Restaurant Group, a portfolio company of Bessemer Investment Partners

Prime Shine Car Wash

Prime Shine Car Wash has completed a sale of its business to Mister Car Wash

Prime Shine Car Wash

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Prime Shine Car Wash, California’s largest independently owned car wash operator with 19 locations in California’s Central Valley. Trinity orchestrated a competitive process which ultimately resulted in a successful sale to Mister Car Wash, the largest domestic operator of conveyor car washes with over 250 car washes in 21 states. Prime Shine grew from a single location in 1991 to becoming one of the industry’s acknowledged leaders in the segment.

Transaction Testimonial

"Trinity played a crucial role in the sale of our family-owned business and provided invaluable guidance throughout the entire process. When we received an unsolicited offer for our company, we needed an advisor that could help us evaluate the offer and decide on the best path forward. Trinity led a comprehensive marketing process that resulted in a large number of suitors and more importantly, valuations that were significantly higher than the initial unsolicited offer. After navigating through complex transactional issues, Trinity was able to deliver a successful close with a strategic partner that will be able to continue the Prime Shine legacy."

Evan Porges, CEO

Prime Shine Car Wash

Prime Shine Car Wash has completed a sale of its business to Mister Car Wash, a portfolio company of Leonard Green & Partners

Porter Apple Company

Porter Apple Company, a franchisee of Applebee’s has completed the sale of its Applebee’s franchised restaurants to Apple Corps, L.P.

Porter Apple Company

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Porter Apple Company, an Applebee's franchisee with eight restaurants in South Dakota, Iowa and Nebraska in the sale of its Applebee's restaurants. Trinity managed an extensive auction process and advised the Company through the deal negotiations, diligence and closing, culminating in a successful outcome for the seller.

Porter Apple Company

has completed the sale of its Applebee’s franchised restaurants to

Apple Corps, L.P.

STACKED Restaurants, LLC

STACKED Restaurants, LLC has completed a recapitalization with Hargett Hunter and TriSpan Rising Stars

STACKED Restaurants, LLC

Transaction Overview

Trinity Capital LLC served as financial advisor to STACKED: Food Well Built in completing a round of venture financing to expand its footprint into new markets and fuel growth of the brand with private equity firms, Hargett Hunter and TriSpan Rising Stars. STACKED is a contemporary casual dining brand with a full bar where guests are empowered through the use of proprietary technology and mobile devices to fully customize their orders to their exact liking to personalize the dining experience. The menu is built around five core “STACK-able” items: burgers, pizza, sandwiches, salads, and mac n’ cheese. The brand now has five (5) restaurants open in Southern California. Trinity ran a competitive process, advised the company on deal structure and facilitated due diligence to ensure a successful transaction.

Transaction Testimonial

"From our very first meeting with Trinity, we realized that they truly understood our unique restaurant concept and would unquestionably represent our interests better than anyone else we considered. Trinity conveyed the passion and enthusiasm to effectively communicate the great potential of our brand to the investment community. We particularly appreciated their hard work has completed a recapitalization with and determination in finding the right financial partner for our company and the valuable guidance to all of the shareholders as we considered various alternatives."

-Paul Motenko, Co-Founder

STACKED Restaurants, LLC

has completed a recapitalization with

Hargett Hunter & TriSpan

Burger Holdings, LLC and Burger Gulf Coast, LLC

Burger Holdings, LLC and Burger Gulf Coast, LLC, a franchisee of Burger King Corporation has completed a sale of its restaurants to Consolidated Burger Holdings, LLC, a portfolio company of Union Capital

Burger Holdings, LLC and Burger Gulf Coast, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Apple Investors Group and its Burger King franchisee subsidiaries, Burger Holdings, LLC and Burger Gulf Coast, LLC (the “Business”), in the sale of its 66 Burger King restaurants in Florida and Georgia to Consolidated Burger Holdings, LLC, a portfolio company of Union Capital. Trinity ran a highly competitive and diligent sale process, which generated substantial interest from institutional investors and franchisees alike to ultimately yield a premium valuation to the seller. Additionally, Trinity assisted both the buyer and the seller in navigating through all the nuances of diligence, consents and approvals.

Transaction Testimonial

"From the very outset of engaging Trinity, they proved they were the right advisor for our transaction. Their team’s knowledge of the M&A process, reputation in the restaurant industry and professionalism throughout helped guide me through every step of the transaction. We appreciated the valuable guidance and advice they provided as we navigated through finding an optimal buyer, negotiating a purchase agreement, managing the due diligence process and ultimately assisting with franchisor consent in transitioning to the new owner. We couldn’t be more pleased with the outcome and would work with the Trinity team on any of my future transactions."

-Andy Patel, Owner

Burger Holdings, LLC and Burger Gulf Coast, LLC

completed a sale of its restaurants to a Consolidated Burger Holdings, LLC, a portfolio company of

Benihana of Tokyo

Benihana of Tokyo, LLC has sold a 75% stake in its subsidiary, Benihana Holdings Pte. Ltd., to Minor International

Benihana of Tokyo

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Benihana of Tokyo, LLC, and its subsidiaries, a leading Japanese-inspired teppanyaki restaurant chain in the UK, Poland, Romania, Slovakia, Canada, Jordan, Kuwait, Lebanon, Saudi Arabia, the UAE, Thailand and Indonesia, in their sale of a 75% stake in its subsidiary, Benihana Holdings Pte. Ltd., to Minor International, a global hospitality company based in Thailand with over 2,000 restaurants in 20 countries and 161 hotels in 26 countries. Benihana was founded in 1964 and today is the world’s leading Japanese-inspired teppanyaki restaurant chain. Trinity worked with Benihana of Tokyo LLC to successfully identify and select a joint-venture partner and properly negotiate the transaction to provide the company and its owners with value today and value in the future growth under the new partnership.

Transaction Testimonial

"We have known Trinity for many years and have built a strong relationship with the firm. Their depth of knowledge and reputation in the restaurant industry gave me comfort from the beginning they were the right advisor for our transaction. Trinity proved my decision correct by guiding and educating our team through the entire transaction process from start to finish, including helping us select the best joint venture partner, successfully negotiating key terms of the deal and efficiently managing the due diligence process. Their team exemplified professionalism and provided the senior-level attention required on the critical day-to-day decision making to drive a successful transaction. Our team couldn’t be more pleased with the outcome of this transaction and would highly recommend Trinity’s services to anyone considering a sale of their business."

- Keiko Ono Aoki, Chief Executive Officer

Benihana of Tokyo

has sold a 75% stake in its subsidiary

Minor International

Manna Development Group

Manna Development Group LLC, a franchisee of Panera, LLC, has secured a credit facility from CapitalSpring

Manna Development Group

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Manna Development Group LLC, and affiliates, a Panera Bread franchisee with 97 cafes in five states, in securing financing to refinance its existing indebtedness and acquire 38 Panera Bread cafes in Colorado from a franchisee. Trinity successfully negotiated and secured credit facilities, including a development line of credit. Trinity worked with Manna Development Group LLC to identify and select the best lending partner, properly structure and negotiate the transaction and set up the company for future growth.

Transaction Testimonial

"Trinity was a valuable advisor throughout a lengthy engagement, helping my team explore and understand the various strategic alternatives available to us. Their investor relationships and industry knowledge ensured a smooth process once a decision to explore a refinancing was made. Trinity’s team guided us through each step of the transaction process: negotiating initial terms, leading our side during financial diligence and structuring the final agreements. Their professionalism and expertise were second-to- none, and I would highly recommend their services to other business owners considering a refinancing or sale."

- Paul Saber, President and Chief Executive Officer

Manna Development Group

has secured a credit facility from

CapitalSpring

BurgerBusters Inc.

BurgerBusters Inc. has secured a $200 million senior credit facility from BBVA Compass

BurgerBusters Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to BurgerBusters Inc. (“BurgerBusters”), a Taco Bell, KFC, Pizza Hut and Long John Silver’s franchisee with 142 restaurants in Virginia, North Carolina, West Virginia, Maryland and Pennsylvania, in the acquisition of 25 Taco Bell restaurants in southwestern Virginia from Tacoma, Inc. In conjunction with the acquisition, Trinity advised BurgerBusters on a new credit facility with a lender syndicate led by BBVA Compass, and on sale-leaseback financing with Realty Income Corporation for the real estate related to the acquired restaurants.

Transaction Testimonial

"My relationship with Trinity dates back many years and includes several prior transactions. This latest transaction not only increased our unit count more than 20% and expanded our footprint in Virginia, it also provided access to additional capital for continued growth. Trinity’s sound advice and seamless execution helped us complete a complicated deal on the best possible terms. I look forward to working with them again and highly recommend Trinity to anyone considering a transaction."

- Tassos Paphites, Chairman and Chief Executive Officer

BurgerBusters Inc.

has secured a $200 million senior credit facility from

BBVA Compass

G.F. Enterprise, LLC

G.F. Enterprise LLC has secured a $65.5 million senior credit facility from BMO Harris Bank

G.F. Enterprise, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to G.F. Enterprise LLC, a Taco Bell franchisee with 30 restaurants in three states, in the acquisition of 19 restaurants in the Nashville market from Taco Bell Corporate. Trinity also served as the exclusive financial advisor in securing the debt financing for the acquisition. Trinity successfully negotiated and secured a $51 million senior term loan and a $14.5 million development line of credit. Trinity worked with G.F. Enterprise LLC to select the best lending partner and to structure the transaction.

Transaction Testimonial

"We have a long-established relationship with Trinity Capital and have come to rely on their industry expertise and professionalism throughout the deal process. As in past experiences, Trinity was again instrumental in achieving a successful outcome. Trinity leveraged its extensive knowledge of the restaurant industry and intimate understanding of the Taco Bell system to ensure we were awarded the restaurants at the end of a very competitive process. Trinity also worked tirelessly to meet our financing objectives by securing extremely attractive debt terms and helping to complete the syndication process. We believe the transaction was a complete success, and we look forward to working with Trinity again in the future."

George Fellows, CEO, G.F. Enterprise LLC

G.F. Enterprise, LLC

has secured a senior credit facility from

BMO Harris Bank

Homestyle Dining LLC

Homestyle Dining LLC, the franchisor of Ponderosa Steakhouse and Bonanza Steakhouse has completed a sale of its interests to FAT Brands Inc.

Homestyle Dining LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Homestyle Dining LLC (“Homestyle”), the parent company to its international, legacy, family-style, full-service and buffet chains, “Ponderosa Steakhouse” and “Bonanza Steakhouse” operating under franchise and sub-franchise agreements in 19 states in the United States, Canada, Puerto Rico, the United Arab Emirates, Egypt, Qatar, and Taiwan. Trinity ran a competitive auction, which garnered substantial interest from private equity firms and strategic buyers alike and ultimately delivered a premium valuation to the seller.

Homestyle Dining LLC

has completed the sale of its interests to

FAT Brands Inc.

First Picks Holdings LLC

First Picks Holdings LLC has completed a sale of its assets to PBS Foods, LLC

First Picks Holdings LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to First Picks Holdings LLC (“First Picks”), a Panera franchisee in California. Trinity ran a competitive auction, which produced substantial interest from institutional investors and franchisees alike and ultimately provided a premium valuation to the seller, in addition to assisting the buyer in obtaining consents and approvals from all of the requisite parties.

Transaction Testimonial

"Given our long-standing relationship with Trinity Capital, there was no question in our minds to have them lead us through our sale process. Trinity helped us think through all conceivable strategies, coached us on what to expect and then kept us on track every step of the way. With every challenge we faced during the course, they had the right answers and helped us navigate the many obstacles right up to the very end. We are extremely grateful for the insight, guidance and abilities and would recommend Trinity for any important strategic undertaking. "

Glenn Mah, COO

First Picks Holdings LLC

has completed the sale of its assets to

PBS Foods LLC

OCAT, LLC

OCAT, LLC, a franchisee of Taco Bell Corp., has completed a sale of its membership interests to Pacific Bells

OCAT, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to OCAT, LLC (“OCAT”), a Taco Bell franchisee with 57 restaurants in California, in the sale of its LLC membership interests. Trinity ran a competitive auction, which garnered substantial interest from private equity firms and franchisees alike and ultimately delivered a premium valuation to the seller, and helped navigate a complicated franchisor approval process.

Transaction Testimonial

"Trinity Capital helped me realize an excellent result in the sale of OCAT. During this process, there were several obstacles to overcome. Each time, Trinity was able to find a workable solution, in some cases even turning what appeared to be a bad break into a more favorable outcome. Trinity was always professional and provided attentive service. Their depth of experience with transaction-related issues and close relationships with our franchisor helped ensure a successful transaction. I would highly recommend anyone considering a sale of their business talk to Trinity."

David Olson, President

OCAT, LLC

has completed a sale of its membership interests to

Pacific Bells

Luihn Four, Inc.

Luihn Four, Inc. has completed the sale of its franchised restaurants to FLG Chicken, LLC

Luihn Four, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Luihn Four, Inc. (the “Company”), a Yum! Brands franchisee, in the sale of its restaurants in Central Florida. Trinity managed the sale process for the Company, including the preparation of marketing materials, development of a targeted buyer list, negotiation of the purchase price and a successful transaction closing.

Luihn Four, Inc.

has completed the sale of its franchised restaurants to

FLG Chicken, LLC

Gemini Basketball LLC

Gemini Basketball LLC (d/b/a the Los Angeles Sparks) has completed the sale of its assets to LA Sports Partners, LLC

Consolidated Wings Investment, LLC

Consolidated Wings Investment, LLC has completed the sale of its Buffalo Wild Wings franchised restaurants to World Wide Wings, LLC

Consolidated Wings Investment, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Consolidated Wings Investment, LLC (“CWI”), a Buffalo Wild Wings franchisee with operations in Indiana and Florida. Trinity managed the sale process for CWI, including the preparation of marketing materials, execution of a competitive auction, negotiation of the purchase price and a successful transaction closing.

Consolidated Wings Investment, LLC

has completed the sale of its Buffalo Wild Wings franchised restaurants to

World Wide Wings, LLC

Aquamar, Inc.

Aquamar Inc. has completed a recapitalization with Huron Capital

Aquamar, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Aquamar, Inc. (“Aquamar”), a leading producer of surimi seafood (imitation crabmeat), in its recapitalization with Huron Capital. Founded in 1991 and based in Rancho Cucamonga, CA, Aquamar is the #2 producer of surimi seafood in the U.S. and the #1 producer of shred-style surimi. Trinity ran a competitive process that garnered substantial interest and advised the company on investor selection, negotiation of deal terms and diligence to ensure a successful transaction.

Transaction Testimonial

"When my partner and I decided to sell the company we founded more than 25 years ago, we interviewed several investment bankers and selected Trinity based on their knowledge of the industry and understanding of our business and culture. This was our first time selling a business, and Trinity provided expert guidance through each step of the process. We are very happy with our decision to hire Trinity and would highly recommend them to anyone interested in selling their business."

- Hugo Yamakawa, President, Aquamar

Aquamar, Inc.

has completed a recapitalization with

Huron Capital

BurgerBusters Inc.

BurgerBusters Inc. has acquired Taco Bell restaurants in Virginia from Taco Bell Corp.

BurgerBusters Inc.

Transaction Overview

BurgerBusters Inc., a franchisee of Taco Bell Corp., has acquired Taco Bell restaurants in Virginia from Taco Bell Corp

BurgerBusters Inc.

has acquired Taco Bell restaurants in Virginia from

Taco Bell Corp.

ES-O-EN Corp.

has completed the sale of its Utah restaurants and related real estate to Golden Spike Restaurants, LLC

ES-O-EN Corp.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to ES-O-EN Corp. and affiliates (“ES-O-EN”), a Taco Bell franchisee with restaurants in Idaho, Oregon and Utah, in the sale of its Utah restaurants and related real estate. Trinity managed a targeted auction process that resulted in an exceptional outcome for ES-O-EN on an accelerated timeline.

Transaction Testimonial

"We are longtime Trinity clients and continue to be impressed with the attentive service they provide and outstanding results they deliver. When we decided to divest our Utah Taco Bell market, our first call was to Trinity. They walked us through what to expect in the transaction process, then proceeded to exceed our expectations. We look forward to continuing our relationship with Trinity and highly recommend their services to anyone considering a sale or financing."

S. Carl Nicolaysen, President

ES-O-EN Corp.

has completed the sale of its Utah restaurants and related real estate to

Golden Spike Restaurants, LLC

BDE Florida

BDE Florida LLC has completed a $34 million recapitalization with Citizens Bank

BDE Florida

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to BDE Florida LLC (“BDE”), a Taco Bell franchisee operating in Florida, in the recapitalization of its senior debt, subordinate debt and preferred equity. Trinity managed the financing process for BDE, including preparing the marketing materials, managing a competitive bidding process, negotiating the final credit terms and facilitating the due diligence until the transaction was successfully completed.

Transaction Testimonial

"I am extremely pleased with the expertise, effort and results Trinity delivered in our recapitalization transaction. As a result of their competitive auction process, we received maximum loan proceeds and a very competitive interest rate. I highly recommend Trinity Capital and I will continue to rely on the professionals at Trinity for all of my financing and advisory needs going forward."

Brian Ellerson, President & CEO

BDE Florida

has completed a $34 million recapitalization with

Citizens Bank

K – K Restaurants, Inc.

K – K Restaurants, Inc. has completed the sale of their franchised restaurants and related real estate assets to Sundance, Inc.

K – K Restaurants, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to K – K Restaurants, Inc. (“Kentris”), a Taco Bell franchisee in Ohio, in the sale of its restaurants and related real estate assets. Trinity managed the sale process for Kentris, including preparing the marketing materials, managing a competitive auction, negotiating the final purchase price and facilitating the due diligence until the transaction was successfully completed.

Transaction Testimonial

"We thoroughly enjoyed working with the Trinity team in representing us in our important decision to sell one of our markets. We found Trinity Capital to be extremely helpful and professional and were impressed with the results of their efforts. We would highly recommend their services to anyone considering a sale."

George Kentris, President

K – K Restaurants, Inc.

has completed the sale of their franchised restaurants and related real estate assets to

Sundance, Inc.

Las Cal Corporation

Las Cal Corporation has completed the sale of their 63 franchised restaurants to Silver State Bell Restaurant Holdings, LLC

Las Cal Corporation

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Las Cal Corporation (“Las Cal”), a Taco Bell franchisee with 63 restaurants in Nevada, in the sale of its restaurants and related real estate. Trinity managed the sale process for Las Cal, including the preparation of marketing materials, completion of a competitive auction, selection of the winning bidder and negotiation of the purchase price and transaction closing.

Transaction Testimonial

"After 40 years of growing and running my business, I needed an advisor that I could trust to best manage the sale of my company and to deliver a result that maximized the fruits of my labor. Trinity Capital’s experienced professionals did just that. I am grateful for their consistent effort and I recommend them to anyone that is considering the sale of their business."

Bill Allmon, CEO, Las Cal Corporation

Las Cal Corporation

has completed the sale of their 63 franchised restaurants to

Silver State Bell Restaurant Holdings, LLC

Jodika Enterprises, Inc. and Sun Coast Ventures

Jodika Enterprises, Inc. and Sun Coast Ventures has completed the sale of their franchised restaurants to NC T&T LLC.

Jodika Enterprises, Inc. and Sun Coast Ventures

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Jodika Enterprises, Inc. and Sun Coast Ventures (“Jodika”), a Taco Bell franchisee in Southern California, in the sale of its restaurants. Trinity managed the sale process for Jodika, including the preparation of marketing materials, completion of a competitive auction, selection of the winning bidder and negotiation of the purchase price and transaction closing.

Transaction Testimonial

"Trinity significantly exceeded our expectations. Though not the lowest cost financial advisor, we unequivocally gained a return of maximized value and efficient execution that was worth every commission dollar. Trinity’s experts first listened to us to understand our goals and needs, then diligently represented our interests throughout the process and gave us daily personal attention that made us feel like we were their only deal. They creatively turned obstacles into opportunities, tapped into their vast experience and networks within the franchise system, and steered the buyer to close the deal quickly without any contingencies after the sale. Most important, they acted with integrity and treated all parties involved with respect. We highly recommend Trinity, and we will definitely utilize their services again for any future needs."

Kerry Bunning, Owner

Jodika Enterprises, Inc. and Sun Coast Ventures

has completed the sale of their franchised restaurants to

NC T&T LLC

Pacific Bells, Inc., World Wide Wings LLC

Pacific Bells, Inc., World Wide Wings LLC have completed a recapitalization of their Taco Bell and Buffalo Wild Wings franchised restaurants with Partner's Group

Pacific Bells, Inc., World Wide Wings LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Pacific Bells, Inc., a Taco Bell franchisee, and World Wide Wings LLC, a Buffalo Wild Wings franchisee. The combined companies have operations across five states. Trinity ran a thorough auction process to identify the right partner to help management grow the two companies while maximizing value for the stakeholders. Trinity worked with the companies to navigate a number of complex issues, including the mid-process add-on acquisition of a multi-unit Taco Bell package to the deal and the brand approval processes.

Transaction Testimonial

"Trinity Capital is a top-tier advisor. From the marketing process to negotiations to closing, they routinely went above and beyond to ensure an optimal outcome for the deal. There were several hurdles that needed to be overcome during this process, and each time Trinity was able to find a workable solution. Trinity’s professionalism, unparalleled industry knowledge and 24/7 availability make them an ideal firm to work with, and I would strongly recommend them to other business owners looking to pursue a transaction."

Tom Cook, Owner

Pacific Bells, Inc., World Wide Wings LLC

have completed a recapitalization of their Taco Bell and Buffalo Wild Wings franchised restaurants with

Partner's Group

QSR International LDC

QSR International LDC has completed the sale of 32 KFC franchised restaurants in Costa Rica to Intelectiva Costa Rica SRL

QSR International LDC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to QSR International LDC, a 120-unit, multi-brand Master Franchise quick-service restaurant developer currently conducting business in 16 countries throughout Latin America and the Caribbean, in its divestiture of 32 KFC franchised restaurants in Costa Rica to Intelectiva Costa Rica SRL, led by well-known Mexican businessman, Roberto González Alcalá. Trinity developed and managed a highly competitive process that included both financial and strategic buyers from several countries across North, South and Central America. Trinity worked with the Company to select a buyer that represented the optimal combination of price and ability to close.

Transaction Testimonial

"Trinity ran a robust marketing process that included strategic and financial buyers from all around the world. They represented our company with the utmost professionalism and delivered a well-qualified buyer that will continue to grow the KFC business. This divestiture will allow us to focus on expanding our master franchise portfolio while providing capital to accelerate the growth of both Quiznos and Smashburger in Costa Rica. It also will provide the capital needed to fulfill a lifelong dream of owning a franchisor. We look forward to working with Trinity on future transactions and highly recommend them to others considering selling or buying a business."

Richard Eisenberg and Jed Silver, Owners

QSR International LDC

has completed the sale of 32 KFC franchised restaurants in Costa Rica to

Intelectiva Costa Rica SRL

TEAM Schostak

TEAM Schostak Family Restaurants has completed the sale of its assets to GPS Hospitality.

TEAM Schostak

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to TEAM Schostak Family Restaurants (“TSFR”), a family-owned restaurant group with an expansive portfolio of casual and fast-casual dining restaurants throughout the state of Michigan (including Applebee’s, MOD Pizza and Del Taco), in the sale of its 60 Burger King restaurants. Trinity managed the sale process for TSFR, including the preparation of marketing materials, selection of the winning bidder through a targeted marketing process, negotiation of the deal terms and coordination of the transaction closing.

Transaction Testimonial

"We have worked with Trinity on several transactions over the years and have come to expect excellent service and results. Burger King was our family’s first foray into the restaurant business, beginning with one restaurant in 1981. When we decided to realize our investment in our Burger King franchises, we called Trinity. They contacted a small group of qualified potential buyers and conducted an efficient sale process to identify the best buyer. Trinity provided senior-level attention throughout the process and led the way, closing ahead of schedule with attractive terms. We are very pleased with the outcome of this sale and look forward to continuing our relationship with Trinity on future transactions."

Mark Schostak, Executive Chairman, TEAM Schostak Family Restaurants

TEAM Schostak

has completed the sale of its assets to

GPS Hospitality

Mother's Market & Kitchen

Mother's Market & Kitchen has completed a funding of growth capital with Mill Road Capital

Mother's Market & Kitchen

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Mother’s Market & Kitchen (“Mother’s”), a leading health food retail chain in Orange County, California, in the recapitalization of its seven (7) natural foods markets. Founded in 1978, Mother’s is a nationally recognized pioneer in natural products retailing. Trinity ran a competitive process for Mother’s, attracted numerous qualified partners and guided the company through partner selection, execution and diligence to a successful conclusion.

Transaction Testimonial

"Trinity Capital impressed our board’s Steering Committee with their knowledge of natural foods retailing and understanding of our unique culture. They conducted a robust process to help us find the right partner to grow our business by creating a lot of interest, expertly guiding us through management presentations, and helping us choose among a number of attractive offers. They negotiated with numerous third parties to obtain the necessary consents to the transaction. Their professionalism and effort exceeded our expectations. I would highly recommend Trinity to any company considering a sale transaction."

– Sam Chappell, Steering Committee Chair, Mother’s Market & Kitchen

Mother's Market & Kitchen

has completed a funding of growth capital with

Mill Road Capital

Capital Group Companies

Capital Group Companies has completed the acquisition of certain assets

G.F. Enterprise LLC

G.F. Enterprise LLC has acquired 13 Taco Bell and KFC franchised restaurants from Taco Bay, Inc.

G.F. Enterprise LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to G.F. Enterprise LLC, a Taco Bell franchisee with restaurants in the Northeast, in its purchase of 13 Taco Bell and KFC restaurants in Massachusetts.

G.F. Enterprise LLC

has acquired 13 Taco Bell and KFC franchised restaurants from

Taco Bay, Inc.

Saja Restaurant Group, LLC

Saja Restaurant Group, LLC has acquired 9 Sonic franchised restaurants from SDI, LLC

Saja Restaurant Group, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to the buyer in the acquisition of 9 Sonic franchised restaurants in Virginia.

Transaction Testimonial

"Trinity was a valuable asset throughout the acquisition process. They introduced us to Sonic corporate, negotiated the term of the transaction, secured senior debt and sale lease-back proceeds. We couldn't have completed the transaction without their guidance and experience in all aspects of the acquisition."

Justin Orlando, CEO, Saja Restaurant Group, LLC

Saja Restaurant Group, LLC

has acquired 9 Sonic franchised restaurants from

SDI, LLC

Shakey's USA, LLC.

Shakey's USA, Inc. has completed a share repurchase from minority shareholders.

Shakey's USA, LLC.

Transaction Overview

Trinity Capital LLC rendered a fairness opinion to the Board of Directors of Shakey’s USA, Inc, a Southern California fast casual pizza chain, in connection with the repurchase of common shares from minority shareholders. Trinity reviewed the Company’s historical and projected financial performance, conducted extensive valuation analysis and presented the results and opinion to the Company’s Board of Directors.

Transaction Testimonial

"Trinity exceeded our expectations during this engagement. The professionals at Trinity not only demonstrated deep industry knowledge, but they also worked diligently to deliver a first-class product and exceptional service. I look forward to working with Trinity again in the future."

Nick Mayer, CEO & President, Shakey’s USA, Inc.

Shakey's USA, LLC.

completed a share repurchase from minority shareholders.

Norm's Restaurants, Inc. and Affiliates

Norm's Restaurants, Inc. and affiliates have completed the sale of their restaurant assets to a private investment fund.

Norm's Restaurants, Inc. and Affiliates

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Norm’s Restaurants, Inc. and affiliates (“Norm’s”), a family style dining chain with 18 restaurants in Southern California, in the sale of its restaurants and related real estate. Trinity managed the sale process for Norm’s, including the preparation of marketing materials, completion of a competitive auction, selection of the winning bidder and negotiation of the purchase price and transaction closing.

Transaction Testimonial

"Norm’s was a family-owned business for 65 years, and the decision to sell the company was very difficult for our shareholders. Trinity ran an excellent sale process that generated substantial interest and delivered an exceptional outcome. They provided senior-level attention throughout the process and 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."

Philip Singerman, President, Norm’s Restaurants, Inc.

Norm's Restaurants, Inc. and Affiliates

have completed the sale of their restaurant assets to a private investment fund

Dolan Foster Enterprises, LLC

Dolan Foster Enterprises, LLC has completed the sale of 72 Taco Bell restaurants and related real estate to Golden Gate Bell

Dolan Foster Enterprises, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Dolan Foster Enterprises, LLC, a Northern California Taco Bell franchisee, in the sale of its 72 Taco Bell restaurants, 17 fee simple properties and one strip mall to Golden Gate Bell Restaurant Holdings, LLC. Trinity facilitated all aspects of the sale process for Dolan Foster Enterprises, LLC, including the preparation of marketing materials, completion of a competitive auction process, selection of the winning bidder and negotiation of the optimal purchase price and transaction closing.

Transaction Testimonial

"Using their breadth of industry experience, Trinity smoothly navigated us through all facets of the transaction resulting in an impeccable sale process. Our confidence in Trinity can be attributed to their diligent work efforts and superior results. We hold Trinity in high regard and given their experience and ability to close deals with attractive terms, we highly recommend their services to anyone seeking to sell their business."

Rich Low, Randy Rodrigues and Paul Luce, Owners, Dolan Foster Enterprises, LLC

Dolan Foster Enterprises, LLC

has completed the sale of 72 Taco Bell restaurants and related real estate to

Golden Gate Bell

Monrovia Nursery Company

Monrovia Nursing Company has completed a credit agreement with G.E. Capital

Taco Grande NW II, LLC

Taco Grande NW II, LLC has completed the sale of its assets to Taco Bell of America, LLC

Taco Grande NW II, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Taco Grande NW II, LLC, a Taco Bell franchisee with 12 restaurants in Seattle, Washington in selling its operations. Trinity managed the entire sale process for Taco Grande NW II, LLC by preparing the marketing materials, completing a very robust and competitive auction process, and providing consulting services to help the seller obtain the highest and best value for its restaurants while selecting the best buyer and facilitating the negotiation, documentation and close of the transaction.

Transaction Testimonial

"Our circumstances were extremely distressful to us and our family. All the while, Trinity was there for us to address all of the challenges we faced in this process. We welcomed their bedside manner and benefited greatly from their guidance. We could not be any more pleased with how Trinity conducted the sale of our company. The relationships they enjoy with our franchisor and lender were critical to our successful outcome. But above anything else, we found them to be incredibly ethical and we very much appreciated the integrity they exhibited as we marched down this difficult path. "

Sara White

Taco Grande NW II, LLC

has completed the sale of its assets to

Taco Bell of North America, LLC

Pennant Foods, LLC and BMP/Southeast Holdings, LLC

Pennant Foods, LLC and BMP/Southeast Holdings, LLC have secured a first-lien and second-lien credit facility from Capital Spring

Pennant Foods, LLC and BMP/Southeast Holdings, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Pennant Foods, LLC, a Wendy’s franchisee with restaurants in California and Tennessee, in its securing of a new credit facility that refinanced indebtedness of the incumbent lender which had a rapidly approaching maturity date. Trinity assisted Pennant Foods, LLC in finding the best lending partner to provide flexible capital with optimal terms in light of the brand’s challenging historical performance.

Transaction Testimonial

"I have known Kevin Burke for over 15 years and his expertise in the food service industry was a great asset in helping us get our refinancing done. His team of dedicated professionals were extremely diligent in handling the process and interacting with all potential lenders on our behalf. They were advocates for us throughout the process and were instrumental in heling get the deal to the finish line. I would not hesitate to use them again in the future and to recommend them to others. Special thanks to David Stiles as the lead person on our deal – he really came up with some creative solutions to any issues that came up and he kept the process on track as we were on a very tight time frame."

Mike Cardinal, CEO, Pennant Foods, LLC

Pennant Foods, LLC and BMP/Southeast Holdings, LLC

have secured a first-lien and second-lien credit facility from

Capital Spring

Family Foods Inc.

Family Foods Inc. has completed a sale of its assets to Flynn Restaurant Group

Family Foods Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Family Foods, Inc., a Taco Bell and Long John Silver’s franchisee with 31 restaurants in North Carolina, in the sale of its restaurants and related real estate. Trinity managed the sale process for Family Foods, Inc., including the preparation of marketing materials, completion of a competitive auction process, selection of the winning bidder and negotiation of the purchase price and transaction closing.

Transaction Testimonial

"Trinity ran an excellent sale process with the utmost integrity which was extremely important to our family. They were ardent advocates in representing our interests, and the results of the process exceeded our expectations. Given their experience, relationships and ability to get deals done at attractive terms, we would highly recommend their services to anyone seeking to sell their business."

Ron and Sharon Matthews, Owners, Family Foods, Inc.

Family Foods Inc.

has completed a sale of its assets to

Flynn Restaurant Group

CLC Restaurants, LLC

CLC Restaurants, LLC has completed the sale of its assets to Yakima Restaurants Inc.

CLC Restaurants, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to CLC Restaurants, LLC, a Taco Bell franchisee with 51 restaurants in Washington, Idaho and Southern California, in selling its Central Washington operations. Trinity managed the entire sale process for CLC Restaurants, LLC by preparing the marketing materials, completing a very robust and competitive auction process, and providing consulting services to help the seller obtain the highest and best value for its restaurants while selecting the best buyer and facilitating the negotiation, documentation and close of the transaction.

Transaction Testimonial

"I’ve always had a tremendous amount of respect for the Trinity team and was very pleased in the outcome. They ran an excellent sale process with utmost integrity which was critically important for us. I felt they did an outstanding job representing our interests and exceeding my expectations. Knowing they have the knowledge, relationships and inside track to getting things done, I can confidently, highly recommend their services to anyone seeking to sell their business."

Craig Langel

CLC Restaurants, LLC

has completed the sale of its assets to

Yakima Restaurants Inc.

American Culinary ChefsBest

American Culinary ChefsBest, Inc. has completed the sale of its assets

American Culinary ChefsBest

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to American Culinary ChefsBest, Inc., the independent judging organization dedicated to recognizing and honoring America’s best food products, in its sale of assets. Trinity worked with American Culinary ChefsBest, Inc. to identify and solicit prospective buyers.

American Culinary ChefsBest

has completed the sale of its assets

The Emerald Green Group, LLC

The Emerald Group, LLC has secured development financing for the New York City restaurant from Summit Financial

The Emerald Green Group, LLC

Transaction Overview

The undersigned served as the exclusive financial advisor to the Emerald Green Group, LLC

The Emerald Green Group, LLC

has secured development financing for the New York City restaurant from Summit Financial.

Summit Partners

TruEnergy Renewable Fuels, L.P.

BurgerBusters Inc.

BurgerBusters Inc. has secured an $80 million senior credit facility from GE Capital

BurgerBusters Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to BurgerBusters Inc., a Taco Bell franchisee with 83 restaurants in Virginia and North Carolina, in its securing of an $80 million credit facility. Trinity assisted BurgerBusters Inc. with raising debt financing for the company by conducting a competitive process, selecting the best lending partner, and facilitating the negotiation, documentation and close of the transaction.

Transaction Testimonial

"The Trinity team did an incredible job representing our interests. We had a very complex situation which Trinity was able to articulate to the lending community that resulted in several offers for us to choose from. In the end, Trinity was successful in structuring an innovative twist on amortization and they delivered better than market terms on documents, interest rates, and fees. We are very pleased in how they conducted the process and counseled us on so many different avenues beyond our original expectations."

- Tassos Paphites

BurgerBusters Inc.

has secured a senior credit facility from

G.E.Capital

Lucky Strike

Lucky Strike has completed a recapitalization with GE Capital and Medley Capital.

Lucky Strike

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor in the recapitalization of Lucky Strike Entertainment, LLC, the nation’s premier upscale bowling, entertainment and dining chain. Trinity provided investment banking and managerial consulting services to the Company in its recapitalization, including a partial restructuring of the equity by Caltius Capital Management to further growth initiatives. Trinity helped Lucky Strike to achieve its goals of leverage reduction and improvement in overall capital structure.

Transaction Testimonial

"Trinity provided unparalleled guidance, insight and relationship management throughout our recapitalization process. Not only did Trinity lead us to a successful outcome, the Trinity team played a significant role in helping us to optimize our company’s operating standards, protocols and metrics. I would highly recommend Trinity for any capital raising or business consulting engagement and intend to retain them again when our Company is ready for its next transaction. "

Steven Foster, Founder & CEO

Lucky Strike

has completed a recapitalization with

GE Capital and Medley Capital

Angel Management Group

Angel Management Group has successfully sold it's Dick's Last Resort restaurant in Las Vegas to DLR Restaurants, LLC

Angel Management Group

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Angel Management Group in the sale of its licensed Dick’s Last Resort restaurant, located in the Excalibur Hotel and Casino in Las Vegas, Nevada, to the licensor, DLR Restaurants, LLC. Trinity managed the process and assisted with negotiations and buyer diligence, resulting in a successful closing of the transaction.

Transaction Testimonial

"Trinity Capital performed a valuable service to Angel Management Group on this relatively complex transaction. Trinity’s responsiveness and senior level attention made a difference in getting to a closing. We appreciate their assistance."

- Jan Marks, CFO, Angel Management Group

Angel Management Group

has sold it's Dick's Last Resort restaurant in Las Vegas to

DLR Restaurants, LLC

RedBrick Pizza Worldwide, Inc.

RedBrick Pizza Worldwide, Inc. has completed the sale of its assets to Brix Holdings, LLC

RedBrick Pizza Worldwide, Inc.

Transaction Overview

RedBrick Pizza Worldwide, Inc. has completed the sale of its assets to Brix Holdings, LLC

RedBrick Pizza Worldwide, Inc.

has completed the sale of its assets to

Brix Holdings, LLC

Vicente Capital Partners

$12,500,000 • Vicente Capital Partners has made a minority interest investment in SportsMEDIA Technology Corporation

Vicente Capital Partners

Transaction Overview

Trinity Capital LLC served as exclusive financial advisor to SportsMEDIA Technology Corporation and raised $12.5 million in growth capital funding from Vicente Capital Partners. SportsMEDIA will use the funding to grow its business by dedicating research and development (R&D) resources (i) to accelerate the introduction of new products, (ii) to migrate its current products to its next generation software platform, and (iii) to introduce its products into new markets. SportsMEDIA, headquartered in Durham, NC, is the industry’s leading provider of award-winning graphics, statistics and video enhancement software and solutions for live television sports broadcasts. Founded in 1988, SportsMEDIA pioneered the first real-time scoring and wireless data system. SportsMEDIA continues to develop and deliver customized products and services to enhance the production quality and viewers’ experience of sporting events. The company has won 17 Emmy awards since 1993. SportsMEDIA’s solutions have been used at the most prestigious sporting events including the Super Bowl, NBC Sunday Night Football, the Indianapolis 500, the NCAA Final Four, the Kentucky Derby, ESPN Summer and Winter X Games, NBA on TNT, NASCAR and NHL. SportsMEDIA’s customers include all major broadcast television companies as well as several regional and specialty sports networks.

Transaction Testimonial

"Trinity Capital’s expert guidance on this transaction was first rate and rock solid. Trinity inspired confidence by managing every step of the process with a definitive authority and an attention to detail that comes from their years of experience. Their advice on all aspects of the transaction was extremely valuable and was a critical component of the successful outcome."

- Gerard J. Hall, President

Vicente Capital Partners

has made a minority interest investment in

SportsMEDIA Technology Corporation

Paradise Foods, Inc.

Paradise Foods Inc. has secured a senior credit facility from City National Bank

Paradise Foods, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Paradise Foods, Inc., a Taco Bell franchisee with restaurants in the Southeast and a significant real estate portfolio, in its securing of a credit facility. Trinity assisted Paradise Foods, Inc. with raising debt financing for the company by conducting a competitive process, selecting the best lending partner and facilitating the close of the transaction.

Transaction Testimonial

" Trinity’s breadth of knowledge related to the debt markets and lending landscape allowed us to take advantage of favorable credit terms in order to best capitalize our company. We have used Trinity’s services in the past and once again they delivered excellent results."

- David Paradise, Owner, Paradise Foods, Inc.

Paradise Foods, Inc.

has secured a senior credit facility from

City National Bank

Lucky Sages, LLC

Lucky Sages, LLC has completed a management-led acquisition of Sabemos Beverages, LLC

Lucky Sages, LLC

Transaction Overview

Sabemos Beverages, LLC is a specialty beer and spirits company which provides premium niche brands to a network of the nation’s largest distributors and retailers. These brands include Lucky Buddha Beer, Left Coast Beer, Zephyr Gin and Bracero Tequila. Each brand possesses a unique and powerful consumer appeal which has earned significant market traction across the portfolio. Sabemos has achieved explosive growth by marrying its carefully selected portfolio of brands to a powerful industry network. The Company is led by Kevin Swadish and some of the industry’s most experienced and respected veterans.

Transaction Testimonial

"I don’t believe any other firm could have successfully completed this complicated transaction. The amount of personal involvement from Trinity’s Senior Management on every moving piece is the reason the transaction was successful. Everyone at Trinity made me feel like I was their only client, and they made my time/support a priority. Trinity has my thanks, but more importantly, my highest praise and life long relationship. With utter confidence, I will pass on my experience to any and all looking for a great investment banking firm."

- Kevin Swadish, CEO, Sabemos Beverages

Lucky Sages, LLC

has completed a management-led acquisition of

Sabemos Beverages, LLC

Prometheus Partners

Prometheus Partners has completed the recapitalization of Taco Bell, Pizza Hut and IHOP restaurants

Prometheus Partners

Transaction Overview

Trinity Capital LLC served as the financial advisor in the recapitalization of Prometheus Partners, one of the largest franchisees of Taco Bell, Pizza Hut and IHOP restaurants in the United States. Trinity Capital LLC assisted in the placement of both preferred equity and common equity. Prometheus Partners has an exceptional management team and continues to be one of the most successful and influential operators in each of the three restaurant concepts.

Transaction Testimonial

"Trinity provided excellent advice and service throughout our recapitalization process. Their expertise in the industry and superior financial analyses kept the transaction moving forward and were critical to a successful outcome. The senior level attention and responsiveness were exceptional and we would recommend Trinity to other companies considering a transaction."

Nick Peters, President & CEO

Prometheus Partners

has completed the recapitalization of Taco Bell, Pizza Hut and IHOP restaurants

Taco Bell, Pizza Hut and IHOP restaurants

Advanced Refining Concepts, LLC

Advanced Refining Concepts, LLC has completed a senior credit facility

Advanced Refining Concepts, LLC

Transaction Overview

Trinity Capital was engaged by the Company to identify and introduce appropriate senior debt capital sources to establish a new revolving credit facility. Trinity made a successful introduction to a leading niche provider of senior secured debt and the parties were able to work quickly to complete a successful transaction.

Advanced Refining Concepts, LLC

has completed a senior credit facility

Piccadilly Restaurants LLC

Piccadilly Restaurants LLC has completed a sale of its operations to Anonymous

Piccadilly Restaurants LLC

Transaction Overview

Piccadilly Restaurants LLC has completed a sale of its operations to an anonymous party

Piccadilly Restaurants LLC

has completed a sale of its operations to Anonymous

Anonymous

Gateway Bells, LLC

Gateway Bells, LLC has completed the sale of 62 restaurants to Bell American Group LLC, a subsidiary of Flynn Restaurant Group LLC

Gateway Bells, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Gateway Bells, LLC. in its sale of 62 Taco Bell, Pizza Hut and KFC restaurants to Bell American Group LLC, a subsidiary of Flynn Restaurant Group LLC. Trinity developed and managed a highly competitive process that yielded a buyer representing the optimal combination of price and ability to close.

Transaction Testimonial

"Trinity successfully advised us on a transaction last year and was able to duplicate the success for this second step transaction. Trinity’s strong relationship with strategic and financial buyers, as well as with Taco Bell Corporate is unparalleled. Trinity was able to quickly help us find the best buyer and lead us to a successful transaction. I was very impressed with Trinity’s overall performance in consummating this transaction."

- Don Ghareeb, Owner, Gateway Bells, LLC

Gateway Bells, LLC

has completed the sale of 62 restaurants

Bell American Group LLC

Application Software Company

Application Software Company, 100% sale of the business

Safe Renewables Corporation

ES-O-EN Corp.

ES-O-EN Corp., has secured an $18 million term loan and $15 million revolving credit facility

ES-O-EN Corp.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to ES-O-EN Corp., a large Taco Bell franchisee with restaurants in three states and a significant real estate portfolio, in its securing of an $18 million term loan and $15 million revolving credit facility. Trinity worked with ES-O-EN Corp. to appropriately capitalize the company by selecting the best lending partner and structuring the transaction.

Transaction Testimonial

"Trinity’s expertise in the restaurant industry and strong relationships with lenders helped make this transaction possible. As a result of this financing, we have the utmost confidence that our company is appropriately capitalized and positioned for growth. We look forward to working with Trinity again and would recommend them to others considering any type of transaction. "

- Carl Nicolaysen, President and CEO, ES-O-EN Corp.

ES-O-EN Corp.

has secured an $18 million term loan and $15 million revolving credit facility with

Wells Fargo Restaurant Finance

Taco Bell Corporation

Taco Bell Corporation has restructured $1.2 billion in franchisee obligations

Taco Bell Corporation

Transaction Overview

In December 2000 Trinity Capital was approached by Tricon and FRANMAC, the Taco Bell Corporation Franchise Association to develop, orchestrate and execute a comprehensive restructuring program. The restructuring program employed a unique scheme of putting Trinity in the middle of tri-part participants of creditor, franchisee and franchisor. This model yielded several important breakthroughs for this as well as the industry at large: • Recognition of franchisors’ unique role in restructuring • Development quasi-forensic accounting analysis of unit financial statements • Recognition of significance of partnership and alignment of interests between franchisor and franchisee • Underscoring of the need for good systems, data reporting and MBO in managing large QSR franchisees

Taco Bell Corporation

has restructured $2.5 billion in franchisee obligations

Chasmar, Properties, Ltd.

Chasmar, Properties, Ltd. has completed a recapitalization

Chasmar, Properties, Ltd.

Transaction Overview

Trinity Capital successfully refinanced and negotiated the release of significant prepayment penalties with a prominent Lender in franchise lending within the recapitalization of this Virginia based Burker King Corp. franchisee.

Chasmar, Properties, Ltd.

has completed a recapitalization

The Slaymaker Group, Inc.

The Slaymaker Group, Inc. has completed a financial restructuring

The Slaymaker Group, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor in the financial restructuring of the Slaymaker Group, Inc. Trinity assisted in the divesture of certain company assets and in reaching mutual agreements with the company continuing as a going concern. The Slaymaker’s Group, Inc. operates approximately 40 casual dining restaurants in four states and is a franchisee of serval national concepts, including Tony Roma’s, T.G.I. Fridays and Tucci’s. Slaymaker is also the franchisor and operator of Wingers restaurants in five states.

The Slaymaker Group, Inc.

has completed a restructuring

Schlotzsky’s, Inc.

$28,500,000 • Schlotzsky’s, Inc. has been acquired by Bobby Cox Companies, Inc.

Schlotzsky’s, Inc.

Transaction Overview

Trinity Capital worked with Schlotzsky’s on several assignments leading up to its engagement by the special committee of the Directors to market the Company in a §363 sale after the Company filed for reorganization in July of 2004. Trinity Capital successfully developed proforma financials and advised suitors on the potential of this brand with proper capitalization management. The Company was sold to Bobby Cox of Dallas, TX who successfully turned around the Company and exited this investment with a respectable return.

Transaction Testimonial

"Trinity’s advice to the board of directors and management was critical to our successful navigation or recognition and subsequent §363 sale. Trinity had an uncanny knack for supply chain advice on franchise, and budgeting issues. "

- Sam Coats, President & CEO, Scholtzky’s

Schlotzsky’s, Inc.

has been acquired by

Bobby Cox Companies, Inc.

The Sydran Group

$200,000,000 Debt & Equity Obligation • The Sydran Group has been acquired

The Sydran Group

Transaction Overview

Trinity Capital, LLC served as the exclusive financial advisor in the sale of The Sydran Group, LLC to a newly formed affiliate of Cerberus Capital Management that arranged a placement of a $65 million Senior Team Loan and Credit Facility by Wells Fargo Bank, National Association. The Sydran Group was the third largest franchisee in the Burger King system with approximately 260 restaurants operating in eight states.

Transaction Testimonial

"We are very fortunate to have the opportunity to work with Trinity Capital and Kevin Burke. Trinity has done a remarkable job in helping us get through these very difficult times and was the major force behind the successful outcome of our restructuring. As a result Trinity’s involvement, the company is now positioned with the necessary capital to ensure its’s success. "

- Matthew Schoenberg, President, Sydran

The Sydran Group

has been acquired

Burger King Corp.

Burger King Corporation has restructured $2.5 billion in franchise obligations

Burger King Corp.

Transaction Overview

Trinity Capital met with the sponsor of the private equity buyout of Burger King Corp. from Diageo PLC in late 2002. Trinity Capital provided invaluable advice to the sponsors with regard to the acquisition, management and turnaround of this landmark transaction. One of Trinity Capital’s key contributions was the successful restructuring and turnaround of 275 Burger King franchisees throughout North America. This effort laid the ground-work for the successful IPO for Burger King Corp. in June 2006.

Transaction Testimonial

"Trinity Capital provided us unique advice around the clock for two difficult years during the Burger King turnaround. Trinity’s efforts in restructuring many key franchisees was a critical aspect of our success. "

- Andrew Bolson, Managing Director, Bain Capital

Burger King Corp.

has restructured $2.5 billion in franchisee obligations

Pacific Bells, Inc.

Pacific Bells, Inc. has completed a sale of assets to Trustreet Properties

Pacific Bells, Inc.

Transaction Overview

Trinity Capital was engaged by one the largest Taco Bell franchisees to execute a sale lease-back transaction for 36 fee properties. Trinity ran a highly structured process that resulted in a large number of competitive bids. Trinity worked with its client to choose the best offer based on total purchase price, cap rate, rental increases, and covenants. The deal was closed with Trustreet Properties, one of the largest restaurant real estate investment firms in the country.

Transaction Testimonial

"When we decided to explore strategic alternatives for our company, we turned to Trinity Capital. In a confidential and efficient process, Trinity’s expertise and commitment helped us complete a very important transaction. Trinity’s leadership in the restaurant industry in unrivaled and their intimate knowledge of the real players in our industry resulted in a highly successful transaction with an industry leading buyer. "

- Tom Cook, President, Pacific Bells, Inc.

Pacific Bells, Inc.

has completed a sale of assets to

Trustreet Properties

Buffalo Grill

Buffalo Grill has been acquired by Colony Capital, LLC

Buffalo Grill

Transaction Overview

Credit Agricole engaged Trinity Capital as its co-advisor in the sale of Buffalo Grill SPA, the largest casual dining chain in Europe. Trinity Capital's focus was directed at North American private equity investors. The transaction was successfully closed by the Paris office of Colony Capital, LLC, a Los Angeles based investor.

Buffalo Grill

Buffalo Grill has been acquired by Colony Capital, LLC

Colony Capital, LLC

Dunkin' Brands

Dunkin' Brands has been acquired by Bain Capital, the Carlyle Group & Thomas H. Lee Partners

Dunkin' Brands

Transaction Overview

Trinity was engaged by the sponsor group in connection with the acquisition of Dunkin’ Brands, Inc. from Alied Domecq in March of 2006. As part of Trinity’s engagement, we provided extensive transaction support to the sponsor in their pursuit of Dunkin’ by conducting an extensive analysis of the brand, state of the franchise community, four-wall economics and carious growth opportunities. Subsequently, the Company announced its intention to divest Togo’s and engaged Trinity to manage that process.

Dunkin' Brands

has been acquired by

Bain Capital, the Carlyle Group & Thomas H. Lee Partners

Farmland Industries, Inc.

$457,400,00 • Farmland Industries, Inc. has completed a sale to Smithfield Foods, Inc.

Farmland Industries, Inc.

Transaction Overview

Trinity Capital LLC served as co-financial advisor in the sale of Farmland Foods to Smithfield. Initially, the parent company hired Trinity as its exclusive advisor in connection with a re-capitalization of the Company’s protein assets (pork and beef) after the parent had commenced a voluntary chapter 11 proceeding. The prospect of the re-capitalization created the leverage necessary in the sale process to force a competitor to raise its bid by more than $100 million. Trinity’s innovative re-capitalization plan drove the broker process and, ultimately, generated proceeds for creditors significantly greater than anticipated.

Farmland Industries, Inc.

has completed a sale to

Smithfield Foods, Inc.

Paradigm Investment Group

Paradigm Investment Group has completed a sale of assets to Cardinal Capital Partners

Paradigm Investment Group

Transaction Overview

Trinity managed all aspects of the sale and financing of the majority of this Company’s assets. Trinity served as the exclusive financial advisor to Paradigm Investment Group in its sale of 41 fee properties to Cardinal Capital Partners. Trinity created a competitive process that yielded enough proceeds to the seller to complete a comprehensive restructuring of its balance sheet. This restructuring included significant discounts on pre-payment penalties and allowed Paradigm to resume growing the company.

Paradigm Investment Group

has completed a sale of assets to

Cardinal Capital Partners

Farmland Industries, Inc.

Farmland Industries, Inc has completed the sale of Farmland National Beef Packing Company, L.P. to U.S. Premium Beef Ltd.

Doux Frangosul

Doux Frangosul has completed the divestiture of their Brazilian swine division

Doux Frangosul

Transaction Overview

Trinity Capital LLC served as co-financial advisor to Doux Frangosul in the divestiture of their Brazillian swine division, an integrated pork production unit that included hog production and pork packing. Acquired by the Doux Group in October of 1998, Doux Frangosul was the third largest producer and exporter of chicken and turkey meat in Brazil at the time of the transaction.

Doux Frangosul

has completed the divestiture of their Brazilian swine division

Bruegger's Enterprises

Bruegger's Enterprises, an affiliate of Sun Capital Partners, Inc., has completed the placement of a Senior Secured Loan and Revolving Credit Facility

Bruegger's Enterprises

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor in the refinancing of Bruegger’s Enterprises, Inc., an affiliate of Sun Capital Partners, Inc. Trinity actively managed a highly competitive process yielding proceeds and terms that will enable Bruegger’s to continue its development as a leader in its segment.

Transaction Testimonial

"Trinity’s industry expertise was a great asset. Their commitment to the restaurant sector combined with a strong work ethic helped us exceed the expectations of our shareholders with this transaction. "

- Jim Greco, CEO, Bruegger’s Enterprises, Inc.

Bruegger's Enterprises

has completed refinancing

Anonymous

$150 million Anonymous Company successfully defended publicly-traded consumer products company from hostile takeover attempt

Anonymous

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor in the raid defense of a publicly traded Canadian Consumer Foods Company. The Company is a leading producer, marketer and distributor of specialty branded consumer food products, generating over $200 million in annual revenue. In 2003, the Company received an unsolicited purchase offer from a corporate raider and formed a Special Committee to evaluate the offer. Trinity Capital was hired by the Special Committee to provide an extensive array of alternatives available to the Committee to satisfy fiduciary duties. Trinity Capital ultimately advised the Special Committee that the combination of recent mad cow disease discoveries and the resulting depressed stock price had attracted an opportunistic bid and did not reflect full value. The Special Committee rejected the unsolicited offer as inadequate and the Company's operations were given time to improve. The stock price has since recovered from its lows, resulting in greater value for its stockholders.

Anonymous

successfully defended publicly-traded consumer products company from hostile takeover attempt

Creekstone Farm Brands, LLC

Sun Capital Partners, Inc in partnership with JDS Acquisition Co., LLC & Canyon Capital Advisors have acquired Creekstone Farm Brands, LLC

Creekstone Farm Brands, LLC

Transaction Overview

Trinity Capital led this management buyout and recapitalization which was funded by Sun Capital and Canyon Capital Partners. Creekstone is the nations largest 100% Black Angus beef brand.

Creekstone Farm Brands, LLC

has been acquired by Sun Capital Partners in partnership with JDS Acquisition Co., LLC & Canyon Capital Advisors

Sun Capital Partners

$25M Branded Consumer Company

A Branded Consumer Company established a through-put agreement which consisted of a senior, subordinate and sale and leaseback debt

Skybound, Inc.

Skybound, Inc. has completed a sale of assets to Corporate Partners Capital Group

Skybound, Inc.

Transaction Overview

Trinity Capital LLC was hired by one of the top ten Burger King Franchisees to execute a sale lease-back transaction for 20 fee properties. Trinity ran a highly structured process that resulted in several very competitive bids. Trinity worked with its client to choose the best offer based on total purchase price, cap, rate, rental increases, and covenants. The deal was closed with a private REIT and at a valuation that well exceeded the client’s expectations.

Skybound, Inc.

has completed a sale of assets to

Corporate Partners Capital Group

Farooqi Enterprises, Inc.

Farooqi Enterprises, Inc. has been acquired by Bama Star LLC, a Hardee's franchisee

Farooqi Enterprises, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Bama Star LLC (“Bama Star”) in its acquisition of Farooqi Enterprises, a 40-unit Hardee’s franchise in Alabama. In our role as exclusive financial advisor, Trinity initiated this transaction, assisted Bama Star in its negotiations with Hardee’s Corporate, and sourced the sale lease-back and other financing that was critical to closing the deal. Trinity used its extensive knowledge of the restaurant industry to assist the buyer in creating pro forma financial statements that exposed the hidden value in this transaction. Bama Star is an operations management company specializing in value opportunities in the QSR and casual dining segments of the restaurant industry.

Transaction Testimonial

"Trinity’s intimate knowledge of the restaurant industry and the capital markets allowed them to identify the value in this opportunity. Trinity was relentless in negotiating the transaction and also very creative in developing the appropriate capital structure. I was very impressed with Trinity’s overall performance in consummating this difficult transaction. "

- Frank Heath, CEO, Bama Star

Farooqi Enterprises, Inc.

has been acquired by

Bama Star LLC

Taco Bell Franchise

Bells & Whistles, LLC; Jaguar Bells, LLC; Bayou Bells, LLC; Border Bells, Inc. & Border Masters, Inc. has been acquired by Prometheus Partners on behalf of its affiliate Windward V

Taco Bell Franchise

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor in the sale of 54 Taco Bell restaurants and related real estate owned by Bell & Whistles, LLC; Jaguar Bells, LLC; Bayou Bells, LLC; Border Bells, Inc. and Border Masters, Inc. Trinity developed and managed a highly competitive process which resulted in the purchase of all outstanding assets by Prometheus Partners, L.P.

Transaction Testimonial

"Trinity’s team delivered. Their commitment, discipline and expertise helped us complete a complex transaction that exceeded all of our expectations. "

- David Paradise, Shareholder

Taco Bell Franchise

has been acquired by

Prometheus Partners

Swisshelm Group, Inc.

Swisshelm Group, Inc. has been acquired by Duke and King Acquisition Corp., a portfolio company of Kinderhook Industries.

Swisshelm Group, Inc.

Transaction Overview

Swisshelm Group, Inc. has been acquired by Duke and King Acquisition Corp., a portfolio company of Kinderhook Industries.

Swisshelm Group, Inc.

Swisshelm Group, Inc. has been acquired by Duke and King Acquisition Corp.

Kinderhook Industries

FoodBrand, LLC

FoodBrand, LLC has completed a sale of assets to HMSHost Corporation

FoodBrand, LLC

Transaction Overview

FoodBrand, LLC operates or subleases approximately 100 restaurants in 25 concepts in malls and airports across the country. When shareholders Panda Express, Inc. and The Mills Corporation made the strategic decision to exit the business, they engaged Trinity Capital to conduct a full auction process to achieve the highest value. Trinity sold the business to, the HMSHost Corporation, a wholly owned subsidiary of Autogrill S.P.A. of Milan Italy.

Transaction Testimonial

"The shareholders of FoodBrand retained Trinity Capital, LLC to market a complicated business transition. Thanks to the persistence and professionalism of the Trinity team, we achieved the best possible outcome. "

- Tom Davin, President & CEO, Panda Restaurant Group, Inc.

FoodBrand, LLC

has completed a sale of assets to

HMSHost Corporation

Ready Pac Foods, Inc.

Ready Pac Foods. Inc. has completed a new Senior Term Loan and Revolving Credit Facility with Wells Fargo Foothill

Ready Pac Foods, Inc.

Transaction Overview

Ready Pac Foods, Inc., with over $700 million of revenue and a leading marketer and distributor of pre-washed, fresh cut bagged salad, fruit and vegetables to both the retail and foodservice industries, interviewed 18 potential financial advisors and ultimately engaged Trinity Capital LLC. Trinity’s mandate included, among other services, the replacing of the Company’s senior term loan and revolving credit facility. Trinity prepared a comprehensive financial model and marketing materials and successfully initiated a $32 million transaction with Wells Fargo Foothill that satisfied the Company’s immediate financing objectives.

Ready Pac Foods, Inc.

has successfully secured $32 million in financing from

Wells Fargo Foothill

The Glazier Group

The Glazier Group, Inc. has completed a new Senior Term Loan with GE Commercial Finance

The Glazier Group

Transaction Overview

Trinity Capital LLC Served as the exclusive financial advisor to The Glazier Group for a debt recapitalization. The Glazier Group is using the proceeds to expand the Company and its signature steak house brand, Strip House. The Glazier Group operates multiple fine dining restaurants and private party facilities including Strip House, Michael Jordan’s The Steak House N.Y.C., Bridgewater’s, Twenty Four Fifth, Old Homestead, and Monkey Bar across the U.S. and Puerto Rico.

Transaction Testimonial

"Trinity Capital really knows the restaurant business. The negotiated a great deal with the ideal debt partner that allowed us to strengthen our balance sheet and to fund future growth. Trinity accomplished exactly what we asked them to and we could not be more pleased. "

- Peter Glazier, Chief Executive Officer, The Glazier Group, Inc.

The Glazier Group

has completed a new Senior Term Loan with

GE Commercial Finance

Batter Blaster LLC

Batter Blaster LLC has completed an initial round of equity capitalization

Batter Blaster LLC

Transaction Overview

Trinity was engaged by the founders and inventors of this start-up food product company to coordinate its initial round of financing. Trinity worked closely with the management team to refine their business plan and prepare a comprehensive financial model, investment memorandum and management presentation. Trinity also worked with the company’s counsel to prepare the necessary private placement documents. The company completed the financing and will be in the market with its innovative product in 2007.

Transaction Testimonial

"Trinity was absolutely essential to our completing a first round of financing. They educated and guided us through the entire fundraising process and helped us to best position our product for success. They prepared us for the road show and helped us address all the concerns of the investors. Now the company is ready to go to market with our exciting new food product and we’re very grateful to have been assisted by the talented team at Trinity Capital."

- Sean O’Connor, President, Batter Blaster

Batter Blaster LLC

has completed an initial round of equity capitalization

Ready Pac Foods, Inc.

$46,700,000 • Ready Pac Foods, Inc. has completed a recapitalization with Bayside Capital

Ready Pac Foods, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor in the recapitalization of Ready Pac Foods, Inc. The financing included the placement of a Senior Term Loan and Credit Facility by Wells Fargo Foothill and a recapitalization by Bayside Capital, an affiliate of H.I.G. Capital who has over $3 billion of committed equity capital under management. Ready Pac is an industry recognized innovator of fresh cut produce and fresh prepared foods with facilities located throughout the United States. Ready Pac has been delivering the highest quality packaged salad, fruits and vegetables for over 30 years.

Transaction Testimonial

"Trinity Capital provided exceptional service to Ready Pac. Trinity’s senior professional commitment with day-to-day involvement was very impressive. Trinity was extremely effective in generating interest among the investment community and our board was pleased with the outcome. Trinity’s counsel throughout this process was very valuable and, as a result of their effort, we are now poised to move forward with a capital partner that truly understands our Company and can help facilitate our continued growth and success that we have built over 38 years. "

- Dennis Gertmenian, Founder & CEO

Ready Pac Foods, Inc.

has completed a recapitalization with

Bayside Capital

WETCO Restaurant Group, LLC

WETCO Restaurant Group, LLC has completed a comprehensive financial restructuring

Togo's Eateries, Inc.

Togo's Eateries, Inc., a subsidiary of Dunkin' Brands, Inc., has been acquired by Mainsail Partners

Togo's Eateries, Inc.

Transaction Overview

Togo’s Eateries, Inc., a subsidiary of Dunkin’ Brands, Inc. is a franchisor or Togo’s sandwich shops with a significant presence in California and restaurant in five states. Trinity Capital, LLC was engaged by Dunkin’ Brands, Inc., a portfolio company of Bain Capital Partners, LLC, The Caryle Group and Thomas H. Lee Partners, L.P., to execute a divestitures of Togo’s Eateries, Inc. Trinity developed and managed a highly competitive process which resulted in a purchase by a partnership of Mainsail Partners, L.P. and Tony Gioia, a leading restaurant executive.

Transaction Testimonial

"Our team was extremely pleased with the efforts of Trinity Capital on the Togo’s Eateries, Inc. transaction. Their industry knowledge and experience helped us to complete a complex divestiture of a leading brand. Without their professionalism and work ethic, it would have been very difficult for us to achieve this successful exit for our shareholders. "

- Kate Lavelle, Chief Financial Officer, Dunkin’ Brands

Togo's Eateries, Inc.

has been acquired by

Mainsail Partners

Vienna Beef, Ltd.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to a major principal of Vienna Beef. Vienna Beef, a leading branded meat processor in the Midwest, manufactures and distributes a wide variety of foods form their flagship sausages and deli meats to soups, chilis, entrees, condiments, desserts and kosher specialities for both retail and foodservice customers. The Company generates over $100M in annual sales and is considered one of Chicago's most recognized brands.

Vienna Beef, Ltd.

Filet of Chicken

Filet of Chicken has been aquired by Creo Capital Partners

Filet of Chicken

Transaction Overview

Trinity Capital LLC was hired by Creo Capital Partners to assist in the acquisition of Filet of Chicken, a Georgia-based processor and distributor of chicken products. Trinity actively managed the process by interfacing with key industry contacts, third-party service providers, and financing sources. Based in part on Trinity’s assistance, Creo successfully completed the Filet of Chicken acquisition.

Transaction Testimonial

"Based on its expertise in the food and restaurant industry, Trinity was hired to provide buy-side services. Trinity played a critical role in the successful acquisition of Filet of Chicken and exhibited both professionalism and exception client service in every step of the process. "

- Rob Holland, Partner, Creo Capital Partners

Filet of Chicken

has been acquired by

Creo Capital Partners

Meyer Natural Foods, LLC

Meyer Natural Foods, LLC has acquired Laura's Lean Beef, LLC

Meyer Natural Foods, LLC

Transaction Overview

Trinity Capital LLC served as financial advisor to Meyer Natural Foods. Meyer Natural Foods, LLC, the parent company of Meyer Natural Angus, has acquired Laura’s Lean Beef in a transaction that brings together two of the most recognized brands in natural beef. Supported by two premier management teams, Meyer Natural Foods is well positioned to be the dominant player in the natural beef industry.

Meyer Natural Foods, LLC

has acquired

Laura's Lean Beef, LLC

Tromble and Company, Inc.

Tromble and Company, Inc., Tromble and Company Operations, Inc., and Tromble and Company Eat, Inc.has been acquired by Prometheus Partners on behalf of its affiliate Coastal QSR, LLC

Tromble and Company, Inc.

Transaction Overview

Trinity Capital LLC served as the financial advisor to Tromble and Company, Inc. in its sale of 45 Taco Bell restaurants to Coastal QSR LLC, an affiliate of Prometheus Partners. Trinity managed a competitive process that included both financial and strategic buyers. Trinity worked with Tromble & Company to select Prometheus Partners as the buyer based on its strong operating knowledge of the brand.

Transaction Testimonial

"Trinity thoroughly understood the value of my company and was very diligent in ensuring that I closed the deal on my terms. They were outstanding in presenting my company to the market and ensuring that the buyers understood the value and the potential of my company. Trinity’s knowledge of the restaurant market and Trinity’s relationship with Taco Bell Corporate was critical to completing this deal. Trinity worked very hard to ensure that the partner I selected would close the deal under the terms we were promised. "

- Rick Tromble, Chief Executive Officer, Tromble & Company, Inc.

Tromble and Company, Inc.

have been acquired by

Prometheus Partners on behalf of its affiliate Coastal QSR, LLC

Goldco, Inc.

has been acquired by Equicorp Investment Partners, LLC

Goldco, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Goldco, Inc. in its sale of 59 Burger King restaurants to Equicorp Investment Partners LLC. Trinity worked with Goldco to select the byer that represented the optimal combination of price and ability to close. Trinity developed and managed a highly competitive process and leveraged its relationships within the Burger King organization to bring this deal to a successful conclusion.

Transaction Testimonial

"Trinity was instrumental in obtaining the highest possible value for my business. Their expertise in the restaurant industry and strong relationships with Burger King corporate, potential buyers, and lenders helped take this transaction to the finish line."

- Bryan Applefield, Chief Executive Officer, Goldco, Inc.

Goldco, Inc.

Goldcorp, Inc. has successfully sold 59 Burger Kings restaurants to Equicorp Investment Partners LLC

Equicorp Investment Partners LLC

Multi-Unit IHOP Franchisee

Multi-Unit IHOP Franchisee has been provided a formal opinion of valuation

Multi-Unit IHOP Franchisee

Transaction Overview

Trinity Capital recently provided a formal opinion of valuation to a private equity firm that was changing the legal structure of one of its portfolio companies. The portfolio company was a multi-unit franchisee of IHOP, a national family dining concept. Despite the lack of recent M&A activity involving franchisees in the family dining segment, Trinity was able to provide an opinion of value for the private equity firm that was used to satisfy tax requirements and facilitated a smooth transition to the new legal structure.

Multi-Unit IHOP Franchisee

Valuation Opinion

Sizzling Platter, LLC

Sizzling Platter, LLC a portfolio company of Valor Equity Partners has acquired Pizza Pizza Company, LTD.

Sizzling Platter, LLC

Transaction Overview

Trinity Capital served as a financial advisor in the sale of Pizza Pizza Company, LTD. to Sizzling Platter, LLC. Pizza Pizza is an operator of Little Caesars Pizza franchise locations, primarily in Texas. Sizzling Platter is a portfolio company of Valor Equity Partners and is a multi-concept restaurant operator. Trinity Capital initiated this transaction, introduced the parties and assisted in the negotiations and closing of the transaction.

Sizzling Platter, LLC

has acquired Pizza Pizza Company, LTD.

Pizza Pizza Company, LTD.

Saratoga Food Group, LLC

Saratoga Food Group, LLC has been sold to Duke and King Holdings

Saratoga Food Group, LLC

Transaction Overview

Trinity Capital served as financial advisor in the sale of Saratoga Food Group, LLC to Duke and King Holdings, an operator of 15 Popeye's Louisiana Kitchen franchise locations, primarily in Virginia Beach, Virginia. The company was sold subject to section 363 of the Bankruptcy Code. Trinity Capital marketed the restaurants and conducted the sale auction resulting in a successful outcome for both parties.

Transaction Testimonial

"...Trinity should be commended for their outstanding effort in this difficult process."

Frank J. Santoro, Bankruptcy Judge for the Eastern District of Virginia in Norfolk

Saratoga Food Group, LLC

has been sold to Duke and King Holdings

Duke and King Holdings

KFC Franchisee

KFC Franchisee has completed a comprehensive financial restructuring and re-image funding program

KFC Franchisee

Transaction Overview

Trinity Capital recently completed the successful execution of a comprehensive financial restructuring and re-image funding program for a significant franchisee of KFC restaurants. Before engaging Trinity, the client had experienced an extended period of same store sales declines and foresaw the inability to comply with the combination of re-image requirements, royalty obligations and lenders' debt service payments. Upon execution of the multi-party restructuring agreement, negotiated by Trinity, the company reduced principal balances, annual debt service requirements and franchisor payables as part of a 10-year solution based on conservative sales projections. In addition, Trinity's structured solution incorporated a means of funding not only past due but future re-image requirements throughout the 10-year plan.

Transaction Testimonial

"Trinity helped us to navigate all the dips, twists and sometimes frightful turns of a debt restructure and they did it with extreme professionalism and integrity."

Owner

KFC Franchisee

has completed a comprehensive financial restructuring and re-image funding program

Multi-Unit Operator

A Multi-Unit Operator has completed a sale of its Burger King restaurants and several owned real estate properties

Multi-Unit Operator

Transaction Overview

Trinity Capital LLC served as the financial advisor to a multi-unit operator in its sales of Burger King restaurants and several owned real estate properties. After approaching a number of prospective purchasers, Trinity worked with the operator to select the optimal buyer. Trinity developed and managed a competitive process and leveraged its relationships in the industry to achieve a successful conclusion.

Multi-Unit Operator

has completed a sale

Multi-Unit Franchisee

A Multi-Unit Franchisee has completed a sale of its Burger King Restaurants

Multi-Unit Franchisee

Transaction Overview

Trinity Capital LLC served as the financial advisor to a multi-unit franchisee in its sale of Burger King restaurants. After approaching a number of prospective purchasers, Trinity worked with the franchisee to select the buyer that offered the optimal combination of price, terms and ability to close. Trinity managed a competitive process and leveraged its knowledge and relationships in the industry and sale transaction expertise to achieve a successful conclusion.

Multi-Unit Franchisee

has completed a sale

Breads of the World, LLC

Breads of the World, LLC one of the largest Panera Bread franchisees in the system, has completed a sale of 20 restaurants

Breads of the World, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Breads of the World, LLC one of the largest Panera Bread franchisees in the system, in its sale of 20 Panera Bread bakery-cafes to Covelli Enterprises, Inc. Trinity developed and managed a highly competitive process that included both financial and strategic buyers and worked with Breads of the World to select the buyer that represented the optimal combination of price and ability to close.

Transaction Testimonial

"Our partners are extremely pleased with the outcome of Trinity's efforts. They ran a very thorough marketing process that provided us several viable options. Trinity was able to negotiate what we feel is the best outcome in realizing our investment. Trinity clearly has a command of all the issues we needed to consider in a sale transaction, and they guided us every step of the way with very sound advice. I felt they held our interests in the highest regards, and I certainly would feel confident in recommending Trinity to any owner considering such an important decision."

Ken Rosenthal, Chairman

Breads of the World, LLC

has completed a sale of 20 restaurants

Covelli Enterprises, Inc

Brodersen Management Corp

Brodersen Management Corp has completed a $32 million credit facility with Wells Fargo Restaurant Finance and RBS Citizens

Brodersen Management Corp

Transaction Overview

Trinity Capital served as the exclusive financial advisor to Brodersen Management Corp., a large Popeye's franchisee with restaurants in five states and a significant real estate portfolio, in its securing of a $27 million term loan and $5 million revolving credit facility. Trinity worked with Brodersen Management Corp. to appropriately capitalize the company by selecting the best lending partner, and structuring the transaction.

Transaction Testimonial

"Trinity's expertise in the restaurant industry and strong relationships with lenders helped make this transaction possible. As a result of this financing, we have the utmost confidence that our company is appropriately capitalized and positioned for growth."

John Brodersen, President and CEO, Brodersen Management Corp.

Brodersen Management Corp

has completed a $32 million credit facility

Wells Fargo Restaurant Finance and RBS Citizens

Multi-Unit Franchisee

Multi-Unit Franchisee has been provided a valuation analysis of the business

20 Unit Franchisee in the Southwest U.S.

20 Unit Franchisee in the Southwest U.S. has completed a recapitalization of the Company and arranged for a new Senior Term Loan and Development Line with GE Capital

20 Unit Franchisee in the Southwest U.S.

Transaction Overview

20 Unit Franchisee in the Southwest U.S.

has completed a recapitalization

GE Capital

Buffalo's Franchise Concepts, Inc.

Buffalo's Franchise Concepts, Inc. has been acquired by Fog Cutter Capital Group Inc.

Buffalo's Franchise Concepts, Inc.

Transaction Overview

Trinity represented the seller in identifying and soliciting several interested buyers and assisted with negotiations to achieve a successful closing of the transaction.

Buffalo's Franchise Concepts, Inc.

has been acquired by Fog Cutter Capital Group Inc.

Fog Cutter Capital Group Inc.

FRANMAC

FRANMAC has been provided system-wide consulting services

FRANMAC

Transaction Overview

Trinity Capital was engaged by FRANMAC, the Taco Bell Franchise Management Advisory Council to provide data and analyses on system wide economics in order to assess a system wide reimaging program. This program involved sampling P&L's and working with operators to establish system wide benchmarks.

FRANMAC

has been provided system-wide consulting services

Greenleaf Inc.

Greenleaf Inc. has been acquired by Oakville Produce Partners

Greenleaf Inc.

Transaction Overview

Oakville Produce Partners, an investment group led by Jeff Gargiulo and Paul Fleming, hired Trinity Capital LLC as its exclusive financial advisor in the acquisition of Greenleaf Inc. Current Greenleaf owner and president Bill Wilkinson retains a major interest and will continue as president. Greenleaf is the leading distributor of high-end organic, and locally grown produce in Northern California, serving more than 600 hotels, restaurants and caterers from Monterey to Sacramento. The Company’s outstanding reputation and management team, combined with the resources of Oakville’s unique and talented investor group, position Greenleaf for continued growth and success. Trinity provided comprehensive buy-side services to the buyer including arranging the third party debt financing through Rabobank International.

Transaction Testimonial

"Trinity’s support was instrumental in Oakville’s acquisition of Greenleaf, keeping all parties on track despite a lengthy process and complex transaction. Trinity provided exceptional client service every step of the way."

- Jeff Gargiulo, Partner, Oakville Produce Partners

Greenleaf Inc.

has been acquired by

Oakville Produce Partners

Eddy Packing Company, Inc.

Eddy Packing Company, Inc., a premier sausage and protein further processor, has been acquired by Mason Wells

Eddy Packing Company, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor in the sale of Eddy Packing Company, Inc., a leading protein further processor, to Mason Wells. Trinity developed and managed a highly competitive process that included both financial and strategic buyers, and worked with the Company to select the buyer that represented the optimal combination of price, terms and ability to close.

Transaction Testimonial

"Trinity expertly managed a thorough marketing process that ensured the best valuation for my business. I relied on Trinity to guide me through the daunting process of selling my family-owned business, and their team consistently reaffirmed my confidence that they had my best interests in mind. I would not hesitate to recommend Trinity to anyone seeking a knowledgeable and trustworthy advisor to depend on during such an important decision."

- Ronald Beeman, President

Eddy Packing Company, Inc.

has been acquired by

Mason Wells

FPL Food LLC

FPL Food, LLC has completed a recapitalization including the issuance of senior term debt and the establishment of a revolving credit facility

FPL Food LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor in the recapitalization of FPL Food, LLC. The financing included the placement of a Senior Term Loan by PMC Financial Services Group and Credit Facility by First Capital. FPL Food is the largest privately owned, fully integrated cow processing facility in the Southeast and one of the largest in the U.S. Located in Augusta, Georgia, the Com pany sells traditional and specialty beef products to well-known national retailers and foodservice providers. FPL’s dedication to customer satisfaction, advanced food safety systems, and environmental management has earned it a reputation for producing superior products at exceptional value.

Transaction Testimonial

"Notwithstanding extremely difficult industry issues and chaotic financial markets, Trinity was able to create capital solutions for my Company that otherwise may not have been possible. They worked with us always with the long-term relationship and my business as their priority: their work ethic and dedication is something rarely seen among investment banking firms these days. Trinity produced results that will allow me to achieve the goals I have set for my business."

- Francios Leger, Owner & CEO, FPL Foods, LLC

FPL Food LLC

has completed a recapitalization including the issuance of senior term debt and the establishment of a revolving credit facility

First Capital

L&L Foods, Inc.

L&L Foods, Inc. has completed a successful recapitalization with CIC Partners, LP

L&L Foods, Inc.

Transaction Overview

Trinity Capital LLC served as exclusive financial advisor to L&L Foods, Inc. on its successful recapitalization with CIC Partners, LP. As part of our engagement, Trinity developed and executed a competitive process to identify the ideal partner for L&L Foods. This recapitalization will better enable L&L Foods to pursue its key growth initiatives, including (i) further penetration of existing customers with new products, (ii) expansion of its production capabilities across the U.S. and (iii) broadening its customer base and markets served. L&L Foods, headquartered in Anaheim, California, is a leading provider of niche food packaging solutions with strong expertise in portion control. The Company’s unique capabilities allow it to serve as a value-added service provider in the formulation, sourcing and packaging of retail and foodservice packaged food products. The Company’s primary packaged products include salad kits; dried products such as croutons, nuts and seeds; dried fruit and spice packets. L&L Foods has demonstrated rapid growth of sales since inception, which has been facilitated by a disciplined commitment to provide its customers with a “one-stop” solution for consumer food products while operating an efficient, low-cost operation.

Transaction Testimonial

"Trinity Capital provided exceptional advice and service throughout our recapitalization process. Their guidance and responsiveness was world class at every step. Trinity took charge from the beginning, kept all parties on track and managed the engagement with authority and attention to detail. It is clear that the Company benefited tremendously from their years of experience, significant sophistication on all deal points and dedicated commitment to their clients. The senior professional attention provided on a day-to-day basis was very impressive. We are very pleased to move forward with CIC Partners, a knowledgeable and well-connected capital partner that can help facilitate our continued growth and success."

- John Pooley, Chief Executive Officer & Scott Lebda, President of L&L Foods

L&L Foods, Inc.

has completed a recapitalization with

CIC Partners, LP

Retention Education, Inc.

Retention Education, Inc. has completed a Series B equity financing with a group of institutional investors

Retention Education, Inc.

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor in the capital raise for Retention Education, Inc. Trinity actively managed a highly competitive process yielding proceeds and terms that will enable Retention Education to continue its development as a leader in its segment.

Transaction Testimonial

"Trinity Capital was an invaluable and trusted advisor in this financing process. We were extremely pleased with their market insight, professionalism and work ethic. Through Trinity's efforts, we have added an ideal partner that shares our vision and brings extraordinary experience to help us drive future growth."

- Bill Groux CEO, Retention Education, Inc.

Retention Education, Inc.

has completed a Series B equity financing with a group of institutional investors

Green Earth Fuels, LLC

Green Earth Fuels has secured significant equity commitments.

Green Earth Fuels, LLC

Transaction Overview

Trinity Capital served as Green Earth Fuels’ exclusive financial advisor in securing significant equity commitments required to construct biodiesel production facilities and develop the Company’s business plan. Trinity introduced several world class equity sources and managed a highly competitive process for Green Earth Fuels and its management team.

Transaction Testimonial

"Trinity accomplished everything they promised us, and more. Their work ethic, execution abilities and good judgment created an extremely smooth and efficient transaction. Trinity helped us transform our idea into one of the largest and most prestigious partnerships in the industry."

- Greg Bafalis, CEO, Green Earth Fuels, LLC

Green Earth Fuels, LLC

has secured significant equity commitments

Prometheus Partners

Prometheus Partners has completed the successful acquisition of a multi-unit Pizza Hut operator

Prometheus Partners

Transaction Overview

Trinity Capital LLC provided the financial due diligence to Prometheus Partners, a private equity fund established to invest in smaller middle market nationally-franchised restaurant businesses, in its acquisitions of a multi-unit Pizza Hut operator. Trinity worked with Prometheus Partners to provide a due diligence package that independently verified the financial results of the Pizza Hut operator.

Prometheus Partners

Prometheus Partners has completed the successful acquisition of a multi-unit Pizza Hut operator.

Quiznos Restaurants

Quiznos Restaurants has completed a franchisee restructuring and assistance program

Quiznos Restaurants

Transaction Overview

Trinity Capital was engaged by Quiznos to provide financial advisory and restructuring services to its franchisees. These services included providing financial analysis and negotiating with various creditors and landlords on behalf of the Quiznos franchisees. The program resulted in many Quiznos franchisees maintaining and strengthening their businesses despite the difficult economy.

Quiznos Restaurants

Quiznos Restaurants has completed a franchisee restructuring and assistance program

El Pollo Loco Franchisee

An El Pollo Loco franchisee has completed a comprehensive financial restructuring of the company

El Pollo Loco Franchisee

Transaction Overview

Trinity Capital LLC recently completed the successful execution of a comprehensive financial restructuring for a multi-unit franchisee of El Pollo Loco. Until 2009, the franchisee had grown by 5-20% every year of operation since inception. However, the combination of significant development projects and the unexpected impact of the economic recession resulted in the Company’s inability to meet financial obligations and meet remodel requirements. Trinity was engaged to work with the Company’s creditors and equity partners toward a solution which not only facilitated economic solvency in the future but also allowed retention of equity by the owners. Upon execution of the multi-party restructuring agreement, crafted and negotiated by Trinity, the Company was able to meet modified debt service requirements along with its franchisor obligations, as part of a comprehensive 10-year solution. In addition, Trinity’s plan ensured a means of funding both past and future re-image requirements to protect the brand’s image.

Transaction Testimonial

"We were faced with the dilemma of potentially loosing what we considered to be a fantastic operation of a great brand in one the Country’s best regions. When the economy turned on us, we faced an incredibly complicated balance sheet with various equity partners and large debt obligations from multiple providers, whose collateral was intertwined among all of our operations. We were amazed at how quickly Trinity was able to accurately analyze our complicated situation and explain it in constructive was to the contingencies involved. Trinity worked with us to develop a sound plan, present it to all of our financial partners and convince them to implement. We feel fortunate to have made the decision to hire this talented group of professionals; they leveraged a tremendous amount of experience to our benefit, and achieved a highly successful outcome. They did a remarkable job and I’m excited that I can finally get back to running my company. "

- Owner

El Pollo Loco Franchisee

has completed a comprehensive financial restructuring of the company

Realty Resources Hospitality, LLC

Reality Resources Hospitality, LLC has successfully completed a restructuring of their debt

Realty Resources Hospitality, LLC

Transaction Overview

Trinity Capital LLC successfully completed a comprehensive financial restructuring for Realty Resources Hospitality, LLC, a top 20 franchisee of Denny’s. Trinity conceived a solution and negotiated a multi-creditor agreement that favorably restructured the Company’s balance sheet, significantly modified the Company’s debt service requirements, and preserved the owner’s equity. In addition, Trinity’s plan ensured a means of funding both past sue and future re-image requirements to protect the brand’s image.

Transaction Testimonial

"We found ourselves in a hole that seemed like an endless struggle to overcome. With the economy hindering any recovery, our balance sheet just complicated matters. We had to come up with a plan to satisfy our lender and capital partner, but the process became stagnant and the fear of not getting anywhere was growing. We were thankful to have been introduced to Trinity. Trinity quickly inserted a short-term and long term agenda, while exploring every conceivable avenue as a possible solution. We felt they instilled confidence to our financial partners and, through their process, afforded us the opportunity to simultaneously explore several alternatives and bring forth a resolution. Trinity came up with a plan and executed it like clockwork. They truly provided a solution that was the best outcome for all parties involved. They did a remarkable job, and I’m excited that I can finally get back to running my company. "

- Joseph Cloutier (Owner)

Realty Resources Hospitality, LLC

has successfully completed a restructuring of their debt

4sunkids Holdings LLC

4sunkids Holdings LLC, a multi-unit franchisee of Pinkberry, has completed a recapitalization including debt and equity financing

4sunkids Holdings LLC

Transaction Overview

Trinity Capital was engaged by the Company to identify and introduce appropriate capital sources to recapitalize the Company. Trinity introduced and leading niche provider of debt and equity capital to the restaurant industry and the parties worked quickly to complete a successful transaction.

4sunkids Holdings LLC

a multi-unit franchisee of Pinkberry, has completed a recapitalization including debt and equity financing

TEAM Schostak Family Restaurants

TEAM Schostak Family Restaurants has successfully purchased 65 corporate owned Michigan Applebee's Restaurants

TEAM Schostak Family Restaurants

Transaction Overview

Trinity initiated the transaction by introducing TEAM Schostak Family Restaurants (“TSFR” or the “Buyer”) as a qualified and attractive re-franchising candidate to Applebee’s Restaurants Inc. Subsequent to the introduction, Trinity acted as the exclusive financial advisor to the buyer in the acquisition of the entire portfolio of 65 corporate-owned locations throughout Michigan. As part of the engagement, Trinity developed a highly competitive process among numerous senior and junior capital sources to design and facilitate the most advantageous capital structure for the Buyer. Through Trinity, TSFR was able to negotiate an exceptional outcome which included a highly attractive, multi-party capital structure that not only captured peak market terms, but also closed on-time and according to seller requirements. The capital structure included a consortium of senior debt providers agented by GE Capital, Franchise Finance, a preferred equity investment by an industry focused institutional investor and a common equity investment by certain members of the Schotak family.

Transaction Testimonial

"Trinity was much more to us in this transaction than a typical investment broker. They introduced the opportunity, structured creative deal terms, navigated multiple parties’ agendas into one a cooperative effort and all the while passionately protected out interests until finally achieving a fantastic outcome for my family and organization. Trinity never missed a deadline, and they ran a process which ensured that the ultimate transaction closed on time. These guys are true experts in the restaurant space . . . we couldn’t have closed the transaction so painlessly or reached such attractive deal terms without Trinity representing us. I will definitely work with them again. "

- Mark Schostak, Executive Chairman of TEAM Schostak Family Restaurants

TEAM Schostak Family Restaurants

has successfully purchased 65 corporate owned Michigan Applebee's Restaurants

DWO, LLC

DWO, LLC has successfully completed the sale of 18 Denny's restaurants to Washington, LLC

DWO, LLC

Transaction Overview

Trinity Capital was chosen as the executive financial advisor to DWO, LLC in its asset sale of 18 Denny’s restaurants located in the greater Seattle area to Washington, LLC. DWO, LLC is an affiliate of Friendly Franchisees Corporation which through its affiliates has been a multi-concept restaurant franchisee of Carl’s Jr., Green Burrito and Papa John’s Pizza. DWO, LLC was the largest franchisee of Denny’s in the Northwest. As part of the engagement, Trinity developed a highly competitive process among numerous strategic and private equity transaction services, introduced the parties and assisted in the negotiations and closing of the transaction.

Transaction Testimonial

"Several unexpected and complicated issues emerged throughout this transaction. While these surprises jeopardize the negotiations, Trinity Capital was instrumental in identifying solutions that kept the parties engaged and on track to consummate the sale. We are grateful with the results and thankful to have chosen Trinity to lead this sale process on our behalf. "

- Harshad Dharod (Owner)

DWO, LLC

has successfully completed the sale of 18 Denny's restaurants to

Washington, LLC

Southern Bells, Inc.

Southern Bells, Inc. has completed the sale of 76 restaurants to Bell American Group, LLC, a subsidiary of Flynn Restaurant Group, LLC, which also owns Apple American Group LLC

Southern Bells, Inc.

Transaction Overview

Trinity Capital, LLC served as the exclusive advisors to Southern Bells, Inc., one of the largest Taco Bell franchisees in the system, in its sale of 76 Taco Bell, KFC and Pizza Hut restaurants to Bell American Group LLC, a subsidiary of Flynn Restaurant Group LLC., which also owns Apple American group LLC. Trinity developed and managed a highly competitive process that included both financial and strategic buyers, and worked with Southern Bells, Inc. to select the buyer that represented the optimal combination of price and ability to close.

Transaction Testimonial

"“Trinity Capital ran a very thorough process that provided us several strong buyers. Trinity’s strong relationship with Taco Bell was critical in closing this transaction in a timely manner. We are very pleased with the outcome and would recommend Trinity Capital to others who are considering selling or recapitalizing their business."

- Craig Fenneman, President and CEO, Southern Bells, Inc.

Southern Bells, Inc.

has completed the sale of 76 restaurants to

Bell American Group, LLC

Treadwell Enterprises, Inc.

Treadwell Enterprises, Inc. has completed the recapitalization of 94 KFC, Taco Bell and LJS restaurants with an approximate $30 million loan from Fifth Third Bank

Treadwell Enterprises, Inc.

Transaction Overview

Trinity Capital, LLC acted as the exclusive advisors to Treadwell Enterprises, Inc., and its related restaurant operating companies in the refinancing of Treadwell’s KFC and Taco Bell businesses. Treadwell Enterprises, Inc., a 94 unit operator, based out of Springfield, Missouri, engaged Trinity to identify inefficiencies in Treadwell’s existing financing structure and locate new financial parties to help the Company better position itself for the future.

Transaction Testimonial

"“I am highly impressed with how Trinity Capital was able to find us the best financial partner to meet our needs, as well as bring credibility to this process and also helping us accomplish other initiatives as part of our refinancing. I am extraordinarily pleased with the Trinity team’s ability in accomplishing our goals and would not hesitate to recommend them to others. We will use them in the future."

- Mike Treadwell, President and CEO of Treadwell Enterprises

Treadwell Enterprises, Inc.

Fifth Third Bank

Tacala, LLC and Boom Foods, LLC

Tacala, LLC and Boom Foods, LLC have completed the sale of 162 Yum! Brands and 66 Sonic America's Drive-In restaurants to Altamont Capital Partners

Tacala, LLC and Boom Foods, LLC

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Tacala, LLC, one of the nation’s largest Taco Bell franchisees, in its sale of 160 Taco Bell and Taco Bell/KFC restaurants and a related company, Boom Foods, LLC, a 66 unit Sonic America’s Drive-in franchise to Altamont Capital Partners. Trinity developed and managed a highly competive process and worked with the company, the buyer and Taco Bell corporate to ensure a successful closing.

Transaction Testimonial

"Trinity Capital was instrumental in managing a complex transaction that resulted in an exceptional outcome for the shareholders. We selected Trinity based on its merits as an industry-acknowledged expert in the restaurant sector and its relationship with executives at Taco Bell corporate. Trintiy’s expertise in navigating the franchisor approval process was a distinct advantage and critical to ensure a successful transaction. I could not e more pleased with Trinity’s performance and would not hesitate to recommend Trinity to anyone looking for a high-caliber investment banking firm."

- Don Ghareeb, CEO

Tacala, LLC and Boom Foods, LLC

have completed the sale of 162 Yum! Brands and 66 Sonic America's Drive-In restaurants to

Altamont Capital Partners

G.F. Enterprises LLC

G.F. Enterprise, LLC has acquired 16 Taco Bell Restaurants from YUM! Brands

G.F. Enterprises LLC

Transaction Overview

Trinity acted as the exclusive financial advisor to the Buyer in the acquisition of 16 corporate-owned locations in Springfield, MA and Hartford, CT. As a part of the engagement, Trinity developed a comprehensive financial model to determine the most advantageous capital structure for the Buyer. Trinity was able to negotiate an exceptional outcome which included a highly attractive capital structure that not only captured peak market terms, but also closed on-time and according to seller requirements. The capital structure included senior debt provided by GE Capital, Franchise Finance, a preferred and common equity investments by the Buyer.

Transaction Testimonial

"Trinity handled all of the aspects of my deal professionally, never missing a deadline and keeping everyone involved focused on closing. All of the materials prepared by Trinity were critical in being awarded stores and securing attractive financing that was necessary to close on the acquisition. I look forward to working with the Trinity team in the future as I grow my business."

- George Fellows, CEO G.F. Enterprise LLC

G.F. Enterprises LLC

has acquired 16 Taco Bell Restaurants from

YUM! Brands

Flynn Olympic Restaurants

Flynn Olympic Restaurants LLC has sold 37 of its Burger King restaurants to its management team

Flynn Olympic Restaurants

Transaction Overview

Trinity Capital LLC served as the exclusive financial advisor to Flynn Olympic Restaurants LLC in its sale of 37 Burger Kings to the management team. Trinity helped the Seller achieve a high watermark for the sale of Burger King assets. Trinity also assisted in the negotiation of the purchase agreement and in obtaining Burger King’s approval of the sale on a timely basis.

Flynn Olympic Restaurants

successfully sold 37 of its Burger King restaurants to its' management team

Orlos and Company, Inc.

Orlos and Company, Inc. has sold its Taco Bell restaurants located in central and south Florida to Luihn Food Systems

Orlos and Company, Inc.

Transaction Overview

Trinity Capital was chosen as the exclusive financial advisor to Orlos and Company, Inc. in its asset sale of its Taco Bell, restaurants located in central and south Florida to Luihn Food Systems. Orlos and Company, Inc. has been a franchisee of Taco Bell for over 20 years. Trinity worked closely with the owner to develop a specific strategy to realize the value of the restaurant operations in order to retire. Our advisory services provided the owner an opportunity to protect a significant portion of new worth by converting the proceeds to be used in a diversified investment strategy going forward. Trinity assisted the seller to structure, negotiate and close the transaction with a highly successful result.

Transaction Testimonial

"Having worked with the guys at Trinity before, it was not even a question for me as to who else I would turn to in order to help me with this life-changing event. I entrusted them entirely to ensure I had the best outcome. I could not be any more pleased with how Trinity helped me with the sale of my company."

- Dennis Orlos, Owner

Orlos and Company, Inc.

successfully sold its Taco Bell restaurants located in central and south Florida to

Luihn Food Systems

Luihn Food Systems, Inc.

Luihn Food Systems has successfully completed the sale of 22 restaurants and one convenience store to KBP

Luihn Food Systems, Inc.

Transaction Overview

Trinity Capital was engaged as the exclusive financial advisor to Luihn Food Systems in order to assist in the divestiture of its central North Carolina KFC restaurants. In this transaction, Trinity bifurcated the real estate from the business enterprise and separately sold these entities to different buyers to maximize proceeds and capitalize on 2012 capital gains tax treatment. KBP, a nationally prominent KFC operator was winning bidder of the auction of the business enterprise assets and closed the transaction in February of 2013. This transaction accomplished the strategic, trust & estate and tax objectives of the Luihn family, which continues to be one of the most successful Yum! Brands operators in the United States.

Transaction Testimonial

"I have always been impressed with Trinity’s industry and transaction expertise. This sale was no exception. Trinity diligently navigated us through all the intricacies of the process, surpassing our expectations and realizing the best possible outcome for our stakeholders. We would not hesitate to consult with Trinity for any future transactions. "

- Jody Luihn. CEO, Luihn Food Systems, Inc.

Luihn Food Systems, Inc.

has successfully completed the sale of 22 restaurants and one convenience store to