As a company grows and achieves new milestones, it generates, stores, and shares more and more confidential information. Often, there are multiple projects happening simultaneously, where important business documents need to be shared quickly and securely with internal stakeholders or third parties.
This was the case for Franchise Group. Managing the numerous sensitive documents generated during various financial deals and transactions had become challenging for the executive team. They decided to look for a dedicated solution that was affordable, easy-to-use, and allowed them to manage multiple projects at the same time. That’s when they found SecureDocs virtual data room.
Franchise Group’s headquarters are in Delaware, Ohio. The company is an owner and operator of franchised and franchisable businesses. The business continually looks to grow its portfolio of brands while utilizing its operating and capital allocation philosophy to generate strong cash flow for its shareholders. Business lines of the Franchise Group include: Pet Supplies Plus, American Freight, The Vitamin Shoppe, and Buddy’s Home Furnishings. The Franchise Group currently has over 1,800 locations, predominantly in the United States, that are company-run or operated under franchising agreements.
Franchise Group knew they needed to find a virtual data room to help them streamline document heavy transactions such as mergers and acquisitions, and also to share data internally with their board of directors. They were looking for a long-term solution that was both easy to set-up and use, offered industry-leading security features, was cost-effective, and ultimately allowed them the flexibility to manage all of their projects from one system.
SecureDocs became their data room of choice because it offered the security and functionality they needed to manage all of their transactions from one data room at a price that was cost-effective for long-term use.
Using SecureDocs, Franchise Group took total control over their important corporate data quickly and easily. Using virtual folders, the executive team at Franchise Group keeps all their confidential information organized and ready to share.
They have used their SecureDocs virtual data room to complete several financial transactions, including:
- $1.3 billion in debt financing
- A $252 million divestiture
- A $112 million equity offering
- A $31.3 million preferred stock offering
The team at Franchise Group also uses SecureDocs as a corporate document repository to store important internal business documents, to share data with board members, and to evaluate M&A opportunities for their company. The system is so easy to use and cost-effective that they are considering purchasing another SecureDocs account for their internal audit group.
“SecureDocs was extremely easy to learn from an administrator and user perspective. We had secure control over our documents and were able to manage multiple projects simultaneously with one subscription. It was extremely time and cost-efficient.”
- Andrew Kaminsky, Executive Vice President and Chief Administrative Officer, Franchise Group
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