Norm's Restaurants Sold To Outside Investors
Trinity Capital recently tapped into the favorable conditions for optimizing sales and financing to manage, negotiate, and close the sale of Norm’s Restaurants, a Southern California family-style dining chain with 18 locations.
Trinity, a Los Angeles-based boutique investment firm, served as the exclusive financial advisor to Norm’s Restaurants. It managed the sale process including the preparation of marketing materials, completion of a competitive auction, selection of the winning bidder, negotiation of the purchase price, and transaction closing.
“Norm’s was a family-owned business for 65 years, and the decision to sell the company was very difficult for our shareholders,” says Philip Singerman, president of Norm’s Restaurants. "We are pleased with the conclusion of this sale and look forward to the ongoing success of Norm’s Restaurants."
Norm’s Restaurants made its debut in 1949 with the opening of its first coffee shop in Hollywood.
“Restaurant valuations are flirting with all-time highs, driven by plentiful bank financing, low interest rates, and buyers with ample capital to close transactions,” says Robert Woolway, a managing director of Trinity Capital. “Now is a good time to sell, if that’s your exit strategy, and while valuations are still attractive.”