© 2014 The Texas Lawbook.
By Natalie Posgate – (July 21) – Dallas attorneys at Locke Lord helped Minneapolis-based Carlson Restaurants close the sale this week of TGI Fridays Restaurants to Sentinel Capital Partners and TriArtisan Capital Partners.
A written statement by Locke Lord cited a May 20 Wall Street Journal article that estimated the value of the deal to be worth $800 million.
Partner J. Mitchell Bell and counsel Dovi Adlerstein led the Locke Lord team. Other attorneys involved included partners Christopher Schrauff, Geoffrey Polma, J. Dean Hinderliter, Kip Mendrygal, Edward Razim, Karin Torgerson and Paul Coggins and associates Amy Gremminger White, Kevin Satter, Marc Lipscomb, Mackenzie Horton, Matt Stockstill and Susan Fisher. Houston associate Laura Ferguson and attorneys from the firm’s London offices also worked on the deal.
Bell and Adlerstein previously represented Carlson on the sale of the Regent hotel brand. They also recently represented Carlson when it sold a company that owned a hotel property on the island of St. Martin.
New York and Los Angeles Kirkland & Ellis attorneys led the transaction for Sentinel, which will be Fridays’ majority shareholder. Over the years, Sentinel has acquired other franchisors and franchisees, including Checkers/Rally’s, Falcon Holdings (the largest franchisee of Church’s Chicken) and Massage Envy.
It is unknown who represented TriArtisan.
In Carlson’s original written statement announcing the deal, it said TGI Fridays will continue to be led by the same management team.
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