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Brunswick Group will handle the potential sale of the TGI Fridays restaurant chain, which owner Electra Private Equity investment firm put on the auction block today.
The potential divestment of the casual dining restaurant unit is part of London-based EPE's effort to maximize shareholder value, cash in on the strong equity market and simplify its corporate structure.
TGIF operates more than 900 restaurants in 60 countries. Its market valuation is in the $200M range.
EPE has retained Greenhill & Co. investment banker to shop TGIF and other investments including Hotter Shoes, Knight Square (property management) and Photobox (personalized products/gifts) operations.
The company stresses that it is not currently discussing the sale of any of its units, though it "has received expressions of interest from several parties."
Brunswick's Ammerance Ozioro represents EPE.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
C Street Advisory Group handles strategic communications duties for American Signature Inc. as the Columbus-based home furnishings retailer declares Chapter 11.
Collected Strategies handles Exact Sciences as the cancer screening leader is acquired by Abbott in a deal with an enterprise value of $23B.
Joele Frank represents Philadelphia-based Axalta Coating Systems as it agrees to merge with Amsterdam’s AkzoNobel in a deal valued in the $25B range.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
