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Elephant & Castle Group Inc.

Elephant & Castle Group Inc.

BellMark Partners, LLC (“BellMark” ) is pleased to announce that it advised Elephant & Castle Group Inc. (“E&C”) under a Chapter 11 Section 363 sale of substantially all of its assets to Original Joe’s Acquisition Corporation, a Canadian-based restaurant operator and franchisor. The Company filed for Chapter 11 bankruptcy on June 28, 2011. E&C, based in Boston, MA is an operator and franchisor of 19 authentic, full-service British style restaurant pubs in the United States and Canada. E&C offers large portions of freshly prepared British pub dishes and North American fare, ranging from Fish’n Chips and Shepherd’s Pie to Cheddar Burgers and Chicken Caesar Salads. As a complement to its food menu, E&C offers an extensive selection of over 50 premium, “hard-to-find” beers, in addition to wine and spirits. E&C’s restaurants are located within downtown, metropolitan markets in close proximity to hotels, large office buildings, residential properties, and other commercial enterprises. BellMark is a boutique investment banking firm focused on providing advisory services to middle market and lower middle market companies in the consumer products, industrial, healthcare, and business services industries. BellMark provides advice to family businesses, entrepreneurial or closely-held companies, private equity-owned companies, and small-cap public companies. Services include: mergers and acquisitions, strategic alternatives reviews, restructurings, debt & equity capital raising, valuations & fairness opinions. Download as...

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BellMark Partners, LLC 4th Quarter M&A Update

M&A Market Update Despite a challenging environment toward the latter half of 2011 marked by a U.S. credit rating downgrade by S&P, prolonged weakness in the U.S. housing and employment markets, and European sovereign debt crisis, total U.S. M&A activity remained relatively stable after a strong 2010: Total deal volume increased approx. 6.0% to 8,551 deals for the twelve months ending December 31, 2011 from 8,065 deals during the comparable period in 2010 Total deal value was essentially flat, totaling approximately $645 billion in 2011 versus $647 billion in 2010 As experienced in fiscal 2010, several fundamental market dynamics supported sustained market activity in 2011. Well-Capitalized Corporations Seeking a Quicker Path Towards Growth According to the Federal Reserve, non-financial U.S. corporations have approximately $2 trillion in cash. Such capital can be deployed internally with new employee hires or plant expansions/improvements, or alternatively, through stock buybacks, dividend payouts, or acquisitions. With improved balance sheets and the headwinds of the global financial crisis largely behind them, corporations have increasingly turned to acquisitions as an avenue for accretive growth in a relatively anemic environment of annualized GDP growth of less than 1%. Such acquisitions have typically taken the form of smaller, tuck-in type deals as many corporations have been hesitant to pursue larger, riskier deals given the mixed economic news in the U.S. and abroad. Additionally, there has been a decline in larger public company deals, where stock (versus cash) represents a considerable percentage of total deal consideration, given the volatility in public stock market valuations. Many sellers have also emerged, bolstered by improved corporate earnings and market liquidity, as well as heightened anxiety about the potential for capital gains increases in 2013. Leveraged Buyout Firms Remain Active For the calendar year 2011, LBO activity declined (4.9%) from 1,828 deals in 2010 to 1,738 deals in 2011. While volume declined, overall LBO activity was still strong given the growth experienced in 2010. With record funds raised from 2006-2008, private equity firms are now sitting on approximately $425 billion in equity capital with many funds nearing their investment expiration dates [1]. Additionally, while retreating during the second half of 2011, the leveraged lending...

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Elephant & Castle Group Inc. Deal Announcement

BellMark Partners, LLC (“BellMark” ) is pleased to announce that it advised Elephant & Castle Group Inc. (“E&C”) under a Chapter 11 Section 363 sale of substantially all of its assets to Original Joe’s Acquisition Corporation, a Canadian-based restaurant operator and franchisor. The Company filed for Chapter 11 bankruptcy on June 28, 2011. E&C, based in Boston, MA is an operator and franchisor of 19 authentic, full-service British style restaurant pubs in the United States and Canada. E&C offers large portions of freshly prepared British pub dishes and North American fare, ranging from Fish’n Chips and Shepherd’s Pie to Cheddar Burgers and Chicken Caesar Salads. As a complement to its food menu, E&C offers an extensive selection of over 50 premium, “hard-to-find” beers, in addition to wine and spirits. E&C’s restaurants are located within downtown, metropolitan markets in close proximity to hotels, large office buildings, residential properties, and other commercial enterprises. BellMark is a boutique investment banking firm focused on providing advisory services to middle market and lower middle market companies in the consumer products, industrial, healthcare, and business services industries. BellMark provides advice to family businesses, entrepreneurial or closely-held companies, private equity-owned companies, and small-cap public companies. Services include: mergers and acquisitions, strategic alternatives reviews, restructurings, debt & equity capital raising, valuations & fairness opinions. Download as...

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