Wendy’s/Arby’s Group Inc. is exploring strategic alternatives for Arby’s Restaurant Group Inc. One option is the sale of Arby’s, a sandwich chain that has nearly 3,700 locations in the United States. UBS Investment Bank was brought in to help with the process. Said Wendy’s/Arby’s Chairman Nelson Peltz: “We believe the way to maximize shareholder value is to focus all of our management and financial resources on continuing to build the Wendy’s® brand.” Arby’s posted a 3.1 percent same-store sales increase at company-operated locations in the fourth quarter.
Integral Systems Inc. plans to evaluate possible acquisitions, mergers and the sale of the entire Columbia, Md.-based company, among other options. Satellite systems maker Integral Systems hired Stone Key Partners LLC as a financial adviser for the process. For the fiscal year ended Sept. 24, 2010, Integral Systems posted a loss of $1.08 million compared with net income of $1.11 million a year earlier. The company attributed its weaker financial results to higher-than-expected selling, general and administrative costs. Revenue rose to $177.9 million from $159.9 million.
ATS Corp. started the process to review strategic alternatives because its board does not believe the information technology company’s current market valuation reflects its underlying value and prospects. Meantime, Sidney E. Fuchs, who joined ATS as president and chief executive officer in 2010, has decided to leave the McLean, Va.-based company. CFO Pamela Little and Senior Vice President John Hassoun will serve as co-CEOs. Little will be primary responsibility for financial and administrative functions. Hassoun will focus on operational matters.
Nicholas Financial Inc. received an unsolicited indication of interest from a possible third-party acquirer. It hired Hyde Park Capital Advisors LLC to serve as an exclusive independent financial adviser to help its board examine strategic alternatives. The review will look at the possible sale of the Clearwater, Fla.-based company. Nicholas Financial will also consider the sale of certain assets, potential acquisitions and expansion opportunities. Debt or equity financing are other options on the table for the specialty consumer finance company.