- The Smith & Wollensky Restaurant Group, Inc. (NASDAQ: SWRG) develops and operates high-end, high-volume restaurants in major cities across the United States
- The Special Committee of the Board of Directors of Smith & Wollensky retained TM Capital Corp. as financial advisor to evaluate an unsolicited takeover proposal and consider alternatives
- TM Capital negotiated the sale of SWRG to Project Grill, LLC, a consortium formed by Bunker Hill Capital, L.P. and certain principals of Patina Restaurant Group for a cash merger price of $11.00/share
- The acquisition price of $11.00 in cash per share, $98 million in aggregate, provides a premium of approximately 118% over Smith & Wollensky’s stock price before the unsolicited proposal
- TM Capital acted as financial advisor and issued related fairness opinions to the Special Committee of the Board of Directors of Smith & Wollensky
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“We retained TM Capital as financial advisor because of their deep experience in contested public transactions and in our industry. TM's expertise was critical as they helped Smith & Wollensky pursue alternatives to a hostile offer, resulting in the sale of the company to an attractive party at a premium value. The TM Capital team was focused and committed to Smith & Wollensky throughout this unusually complex process, with senior attention devoted to negotiating the best possible outcome. I would highly recommend the firm to others facing similar challenges.””Richard Mandell, Chairman, Special Committee of the Board of Directors, Smith & Wollensky Restaurant Group, Inc.