Strong experienced people are the underpinnings of a company. The people are the starting point right out of the gate. We founded Reconstruction Partners based on the skills and experience of its principals: Steve Lynn, Wallace Hite, Allen Barnes, Lee Cohn and

OUR FOCUS IS:

Emerging Brands and Troubled CompaniesFranchisors

Private Equity Companies Senior Lenders

The principals have 100+ years combined C-level experience within companies ranging in value from $25,000,000 to $3,000,000,000. The companies are within multiple industries both public and private.

Given the rather uncertain times, we see a need for our skills and experiences. The uncertainty of the time is an opportunity for those who are ready and able. Let us help your company prosper.

Observations:

Our Solutions

We provide a level of functional due diligence

that Accountants or Attorneys cannot

provide

We become the liaison between the

Board/Owner and the CEO. We are a floor and an insurance policy for

their investment

We are counselors and Advisors to the CEO as

He/She moves the Brand forward. We enable the best performance of the

Brand

Reconstruction – Refranchising – Restructuring

People

STRATEGY

MERGERS & ACQUISITIONS

INTERIM TURNAROUNDMANAGEMENT

RESTRUCTURING

SERVICES 

 

We believe that strategy drives actions and actions produce results measured by financial performance.

If the financial performance is “underperformance” then there is a strategy problem.

Strategy takes into consideration not only the direction, but also the assets (both human and financial) available to translate the strategy into actions.

We evaluate the current strategy measured against resources and results and determine the best “path”.

STRATEGY

SERVICES

  

RESTRUCTURING

Often there are assets that can be re-franchised which we see as

part of restructuring.

The organization must be comprised of the right people with the right skill

set in the right place. We can address organizational issues by

supplying interim management and/or guiding the recruiting process as well

as developing a strong functioning organizational structure

If there is a debt problem, we can

work with existing lenders or source new

lenders.

The financial component

either limits or empowers a company to

execute its plan. If there is a

liquidity problem, we can source equity or assist in utilizing

assets for liquidity.

SERVICES

  

Interim-Turnaround Management

We can provide C-Level interim management for QSR, Casual Dining, and

Fine Dining segments. When a key executive leaves and there is no one in the organization to step up in

the short term, our interim management services are a perfect solution.

When a fresh perspective is needed or the Brand is in trouble, experienced

seasoned eyes can stabilize and redirect the Brand in short order. We have as an affiliate company, New

Century Dynamics, a leader in Executive Search for the Hospitality industry. We can provide a long and illustrious list of

executive talent on an interim basis.

SERVICES

  

Mergers & Acquisitions

• We can prepare a valuation of the company and marshal it through from sourcing the buyer to closing

• There is a time when founders need to turn over the reins of their company so it can not only survive but also reach its potential

• Often an acquisition can wash the declining value of a company and the two are stronger than one company

• We provide due diligence services from a operational and financial perspective

PRINCIPALSSTEVE LYNN – CHAIRMAN

WALLACE HITE – CEO

ALLEN BARNES – PRINCIPAL

LEE COHN – PRINCIPAL

CRAIG WEICHMANN – PRINCIPAL 

 

STEVE LYNN-BIOReconstruction Partners, LLC – Chairman

Back Yard Burgers, Inc. - Chief Executive OfficerLynn led a group of investors in acquiring Back Yard Burgers at the end of 2007. BYBI operates and franchises approximately 180 restaurants throughout the south and Midwest. Since completing the acquisition the corporate headquarters has been relocated to Nashville.Cummings Incorporated – Chairman and Majority StockholderAt over 60 years old, the company is the oldest national sign company in the USA, with customers including Chevron, Chrysler, KFC, Holiday Inn, Taco Bell, Church’s, Wells Fargo Bank, Bank of America, Pizza Hut, Fleet Bank, CVS, Long John Silver’s, and A&W and with Sales in the $65,000,000 range.

Shoney’s, Inc - Chairman and CEOIn April 1995, Lynn was named of Chairman and CEO. Shoney’s was the owner and franchisor of more than 1,500 Shoney’s, Captain D’s, Pargo’s and Fifth Quarter Steakhouses. Sonic Corporation - Chairman and CEOLynn spent 12 years as Chairman and CEO. He built the top-notch management team, which transformed a struggling company into the nation’s largest chain of drive-in restaurants and the ‘number two’ hamburger chair in the Southwest, with over $3 billion in system-wide sales. Lynn acquired the company in a leveraged buyout in 1986 and Sonic experienced unprecedented same store sales growth with an average increase of eight percent per year over his tenure. A key factor in the establishment of Sonic’s success was an “ownership” culture where unit managers own part of their restaurants. Lynn built Sonic from a Market Cap of $10 Million to over 2.5 Billion during his tenure. International Franchise Association – Past Chairman

WALLACE HITE-BIOReconstruction Partners, LLC –Co-Founder & CEOHite formed Reconstruction Partners with Steve Lynn and Allen Barnes to offer Strategy, Restructuring, Re-Franchising and Interim Management Services to Chain Restaurant companies.Back Yard Burgers, Inc. – Chief Operating officer & Chief Reconstruction OfficerMr. Hite acted in an advisory role during the acquisition of Back Yard Burgers and provided strategic guidance on an interim basis as the Chief Reconstruction Officer & Chief Operating Officer of Back Yard Burgers responsible for refranchising, International development & operations, mergers and acquisitions, operations, purchasing, marketing and restaurant benchmarkingStrategic Advisory Partners, LLC -Founder & CEOStrategic Advisory Partners acquired Weichmann-Hite Partners in June of 2005. The firm’s primary focuses is working with emerging brands in three related areas, Strategic Planning, Financial Advisory, and Mergers & Acquisitions. Since its inception, SAP has completed 20 transactions and opened three regional offices.Weichmann-Hite partners - Co-Founder & Managing Partner Weichmann-Hite Partners is a boutique M&A firm specializing in emerging brands within the restaurant & retail sectors. Our practice extends into financial advisory and strategic planning which comprises a fair percentage of our business. Weichmann Hite completed over 57 transactions in three years.IMAG – President & Managing Partner IMAG is a professional consulting firm with five offices across the United States specializing in franchise development both domestically and internationally. Al Homaizi International Management – Group Director of DevelopmentAl Homaizi is a management company with multiple franchise brand restaurants and retail operations throughout the Middle East. The brands included Brands include Applebee’s, Popeye’s, Wolfgang Puck Café’s, Il Fornaio Bakeries, Marche Restaurants, Al Rifai and Arby’s.Sonic Corp. Executive Vice PresidentSonic Industries was the franchisor of Sonic Drive-In Restaurants. A partner in the LBO, a going private transaction and in the IPO.

ALLEN BARNES-BIOReconstruction Partners - Principal

The Vista Group – PresidentBarnes formed The Vista Group in 2001 to provide management consulting and M&A services for middle market companies. The Vista Group has been successful in achieving client objectives in numerous sell-side/buy-side M&A assignments, distressed company management and asset disposition situations, and specific consulting initiatives. Resource Label Group, LLC – President and CEOBarnes was selected by private equity group in 2005 to improve performance of this multi-site manufacturing company. He held full P&L responsibility and was a member of the Board of Directors. Accomplishments include: defined and implemented strategic plan to stop sales slide and improve shareholder value; accelerated sales growth; improved efficiencies in all areas of the organization; created effective business management systems; and changed equipment configuration to reflect current needs of the end-user market. Packaging Acquisition Corporation – President and CEOIn 1997, Barnes was retained by investment group to manage this multi-site manufacturing enterprise. Barnes held full P&L responsibility for four manufacturing facilities and over 400 employees in finance, operations, sales/marketing and customer service. Barnes managed the integration of four acquisitions and the divestiture of a division. Barnes and his team designed and executed a strategic sales and marketing plan targeting customer segments that offered higher margins due to their heavy service component and quality needs.Polyflex Film and Converting, Inc. – President and CEO

LEE COHN-BIOReconstruction Partners – Principal

Lee Cohn co-founded Big 4 Restaurants Inc. in 1973. He is the creative talent behind Big 4’s distinctive concepts. A nationally recognized leader in the restaurant business, Cohn has graced the covers of and has been featured in virtually all of the restaurant industry’s major trade journals including Nations Restaurant News, Restaurants and Institutions, Food Service Marketing and Western Foodservice among others. Major features on subjects ranging from employee motivation to concept development and quality assurance have appeared in major publications. Cohn has been featured on several National Restaurant Association panels and speaker symposiums. A graduate of Arizona State University College of Business, Cohn’s credits include co-development of Ed Debevics with Rich Melman of Lettuce Entertain You, consultation assignments in the US and Asia. He was awarded the first Entrepreneur of the Year Award from Arizona State University in 1984. Active in the local community Cohn has served on the Boards of the Valley Big Brothers and Sisters, The Phoenix Thunderbirds, Boys Hope –Girls Hope, the Phoenix Ballet, The Fiesta Bowl and the Young Presidents Organization. Currently Cohn serves on the Board of Directors of Morton’s Restaurant Group, Marie Callender’s, and Luther’s BBQ. His recent consulting projects include an evaluation of the viability of a $300,000,000 restaurant chain on behalf of the Bondholders, creating foodservice facilities for a Casino in Louisiana, creating a restaurant concept for a group of investors in Hong Kong (Dan Ryan’s Windy City Grill).

CRAIG WEICHMANN-BIOReconstruction Partners – Principal

Mr. Weichmann was a Managing Director with the Investment Banking Department of First Tennessee Securities Corporation, a division of First Tennessee Bank, from 1999-2001. Prior to this position, Mr. Weichmann was with the Investment Banking Division of Morgan Keegan in 1999. Mr. Weichmann spent 21 years at Morgan Keegan primarily as the Senior Consumer Analyst (Restaurants and Retailers) from 1979-1999. Mr. Weichmann's initial positions were in the finance department of Holiday Inns, Inc., the dominant lodging chain in the U.S. from 1975-1979. Mr. Weichmann started his career at Eppler, Guerin & Turner, A Dallas based regional Investment Banking firm from 1972-1973. Mr. Weichmann has worked on numerous transactions, which includes 30 IPO's and secondary offerings in the last seven years at Morgan Keegan. Since then he has broadened his scope to include Fairness Opinions relating to sale transactions, sell-side engagements for public companies, strategic evaluations, business and valuation reviews for several loan proposals and private placements. While serving as an analyst, Mr. Weichmann distinguished himself by being ranked three times by the Wall Street Journal (1993, 1998, and 1999) as a top analyst. In addition, Institutional Investor magazine rated Mr. Weichmann as the number one stock picker in the nation in their Home Run Hitter edition in 1989. Mr. Weichmann has made frequent appearances at industry conferences and has been regularly quoted in numerous publications and trade journals. Mr. Weichmann received his CFA designation in 1982. Mr. Weichmann received his B.A. degree in Economics with Departmental Distinction from Southern Methodist University and his M. B. A. degree in finance from the Darden Graduate School of Business Administration at the University of Virginia.

CONTACT INFORMATIONReconstruction Partners

18 Annandale

Nashville, TN 37215

Telephone: 615-377-1120

Steve@reconstructionpartners.com

Wallace@reconstructionpartners.com