June 18, 2012

Akerman Senterfitt recently represented Carrols Restaurant Group Inc., a public company and the largest Burger King franchisee, in the acquisition of 278 of Burger King Corporation (BKC) company-owned restaurants in Ohio, Indiana, Kentucky, Pennsylvania, North Carolina, South Carolina, and Virginia and related financing transactions.

The financing transactions consisted of a Rule 144A offering and sale of $150 million of senior secured second lien notes and a $20 million senior secured revolving credit facility. As a part of the transaction, BKC acquired a 28.9 percent equity interest in Carrols Restaurant Group. (subject to certain limitations), and total cash consideration was approximately $16.2 million.

Shareholder Wayne Wald and National Corporate Practice Group Chair Mary Carroll were the lead lawyers on the acquisition. They were assisted by of counsel Palash Pandya, shareholders Sue Zabloudil, Rich Bezold, Sarah Campbell Smith, Jonathan Awner, Esther Moreno, Frank Cordero, Peter Salomon, and Jennifer Williams;  associates Shannon Sullivan and Allison Glickman; and, a team of real estate and corporate associates across the firm’s New York and Florida offices.

Wald and Pandya were the lead lawyers on the financing transactions. They were assisted by shareholders Gregory Limoncelli and Frank Cordero, and associates John Lee, Dalia DeLeon, and Alex Goone in both the firm's New York and Florida offices.

Akerman is recognized by U.S. News - Best Lawyers as a leading U.S. law firm for Corporate, M&A, Private Equity, Securities/Capital Markets, and Securities Regulation Law. In addition, Akerman's Corporate Practice Group is recognized by The Legal 500 within the National Firms - Middle Market category and is ranked #1 by Chambers USA for Corporate/M&A & Private Equity in Florida. Akerman's Corporate Practice Group advises public and private companies, including private equity funds, in mergers & acquisitions, securities offerings, financings and other transactional matters, with a strong focus on the middle market.

About Akerman Senterfitt
Akerman is a leading transactions and trial law firm known for its core strengths in middle market M&A, within the financial services and real estate industries, and for a diverse Latin America practice. With more than 500 lawyers and government affairs professionals and a network of 19 offices, it is ranked among the top 100 law firms in the U.S. by The National Law Journal NLJ 250 (2012). Akerman also is ranked among the top 100 law firms for diversity by MultiCultural Law magazine (2011) and recognized as the Law Firm of the Year for Diversity – South by Benchmark Litigation (2012). More information can be found at akerman.com or twitter.com/akerman_law.