Transaction Overview:
In December 2000 Trinity Capital was approached by Tricon and FRANMAC, the Taco Bell Corporation Franchisee 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
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