Williston Holding Company, Inc.: Acquisition of MRI and Continued Growth
Williston Holding Company, Inc. (WHC) is an infrastructure development company formed in March 2012 for the purpose of developing, owning, operating, and/or investing in various infrastructure-related projects in the greater Bakken region of North Dakota. Since the company's inception, Maslon has had an active role in raising both equity and debt, assisting in business acquisitions, and assisting in a reverse merger with a public shell company.
It seemed like a natural fit, then, for Maslon to assist in WHC’s acquisition of Mexican Restaurants, Inc. (MRI), owner and operator of Mexican-themed restaurants in the Houston, Texas, area. MRI owned and operated 46 full-service Mexican-themed restaurants and franchises 11, primarily in the greater Houston metropolitan area, under the following brands: Casa Ole®; Crazy Jose's®; Monterey's Little Mexico®; and Tortuga Mexican Kitchen®. MRI also operated a fast casual concept restaurant under the name Mission Burrito®. WHC believed that their seasoned and experienced management team could help grow MRI substantially over the next few years.
The Maslon team, led by Doug Holod and including Alan Gilbert and Shauro Bagchi, assisted WHC in the process of acquiring MRI, beginning with acquiring 80% of its stock. The final 20% was acquired through a merger of MRI and CASA Acquisition Corp., a Nevada-based subsidiary of WHC. Since completion of the acquisition in early 2014, Mexican Restaurants, Inc. has grown to operating or franchising 73 restaurants across its five brands, and Maslon continues to serve as outside General Counsel for both Williston Holding Company, Inc. and Mexican Restaurants, Inc.