Significant headwinds caused by COVID-19 drove the Company to change its initially contemplated footprint. Despite this, the stakeholders and advisors closed the transaction in record time, saving jobs, cost, and preserving a going-concern sale of the business.
Configure Partners Announces Sale of Large-Scale Dining Concept to Fortress Investment Group
Atlanta, GA — Configure Partners, LLC (“Configure”), a leading middle-market investment bank, is pleased to announce the successful execution of the sale of the assets of CraftWorks Holdings, Inc. (“CraftWorks” or the “Company”), a leading operator of multiple large-scale casual dining concepts, to funds managed by affiliates of Fortress Investment Group LLC (“Fortress”). Configure worked with the Company to finalize the sale transaction amidst the ongoing COVID-19 pandemic, which resulted in temporary closures of the Company’s entire restaurant footprint and furloughing the majority of its employee base.
Configure acted as the exclusive investment banking advisor to CraftWorks in connection with the sale of substantially of all the Company’s assets to Fortress.
Vin Batra, a Managing Director at Configure said, “Significant headwinds caused by COVID-19 drove the Company to change its initially contemplated footprint. Despite this, the stakeholders and advisors closed the transaction in record time, saving jobs, cost, and preserving a going-concern sale of the business.”
About —Configure Partners is a preeminent credit-oriented middle market advisory boutique with offices in Atlanta and New York City. The firm provides investment banking and financial advisory services surrounding credit and creditor’s rights, providing actionable advice and results-oriented execution. Configure’s Debt Placement practice designs bespoke financing solutions for borrowers to support leveraged buyouts, acquisitions, and dividend recaps, among other strategic objectives. The firm’s Credit Resolutions practice is the trusted advisor to lenders and their borrowers when confronting business, liquidity, or capital structure challenges.