New World Coffee – Manhattan Bagel, Inc.

Client Profile
New World Coffee – Manhattan Bagel, Inc. (NASDAQ: NWCI) is a vertically integrated franchisor of coffee bars and bagel bakeries.
Situation
Earlier in the year, SSG raised $10 million of equity on behalf of New World to fund the purchase of the convertible subordinated bonds of a competitor, Einstein/Noah Bagel Corporation, that had filed for protection under Chapter 11 of the U.S. Bankruptcy Code.
Solution
Subsequently, SSG raised an additional $12.5 million to consummate the acquisition of Einstein/Noah by New World for a total purchase price of $190 million.