Sell Side Advisor

Duff & Phelps Advised HRI, a Multi-Concept Restaurant Company, on its Sale to York Capital Management

Duff & Phelps is pleased to announce that HRI Holding Corp. (“HRI” or the “Company”), a portfolio company of Goldner Hawn Johnson & Morrison (“GHJ&M”) has completed its previously announced acquisition by York Capital Management (“York”), a global private investment firm. This marks the fourth middle market M&A transaction in the restaurant sector completed by Duff & Phelps in 2015.

Duff & Phelps acted as the exclusive financial advisor to GHJ&M and HRI working closely with the Company’s management team and its shareholders throughout the sale process, managing the marketing, negotiation and due diligence phases of the transaction.

About HRI

Founded in 1972 and located in Leawood, KS, HRI is a diversified restaurant holding company focused on polished casual and fine dining segments. The Company develops and owns several restaurant concepts comprising over 90 corporate and franchised locations across the United States. In the polished casual dining category, the Company operates restaurants under the Houlihan’s brand, which offers high quality, made from scratch food at a compelling value in a contemporary atmosphere. In the fine dining category, the Company operates restaurants under the J. Gilbert's Wood-Fired Steaks and Bristol/Devon Seafood Grill and Bar brands, which offer premium steak and seafood at an approachable value in an elegant yet unpretentious setting. Faegre Baker Daniels served as legal counsel to HRI.

About York Capital

York Capital Management is a global private investment firm that was established in 1991. The firm manages approximately $25 billion in assets across public and private investment strategies. York Capital employs approximately 60 investment professionals and over 200 total employees globally, located primarily in New York, London, and Hong Kong. Goodwin Procter served as legal counsel to York Capital.

About Goldner Hawn Johnson & Morrison

Founded in 1989, Minneapolis-based Goldner Hawn Johnson & Morrison is one of the longest standing private equity firms in the Midwest. The firm is actively investing its sixth investment fund with $250 million in committed capital. GHJ&M makes control equity investments in lower middle market companies with EBITDA in the range of $5 million to $15 million and enterprise values from $20 million to $150 million.

Financial Sponsors Group

Dedicated coverage and access to M&A deal-flow for financial sponsors.

Corporate Finance and Restructuring

M&A advisory, restructuring and insolvency, debt advisory, strategic alternatives, transaction diligence and independent financial opinions.

Consumer Investment Banking

Consumer, Retail, Food and Restaurant expertise for middle-market M&A transactions.

Transaction Advisory Services

Kroll’s Transaction Advisory Services platform offers corporate and financial investors with deep accounting and technical expertise, commercial knowledge, industry insight and seamless analytical services throughout the deal continuum.