$7.5M EBITDA Quick Serve Restaurant Chain / Franchisor Opportunity

Clay Path Partners recently signed an exclusive LOI to acquire a multi-concept restaurant company in the Northeast that my partner and I would help operate. It is a value situation with a strong foundation and clear, executable growth opportunities. We're in the process of completing the remaining capital raise to support the deal. ◆ Scaled, High-Quality Store Base with Strong Unit Economics: Two well-known regional restaurant brands with loyal customers, consistent demand, and solid cash flow, supported by an experienced leadership team and established operating systems, including a central commissary and digital ordering. > $20+ million in store-level EBITDA and approximately $7.5 million in company EBITDA More than 115 corporate-owned locations across two brands with approximately $140 million in projected 2025 revenue > Consistently profitable stores with healthy margins Small, established franchise system comprising 20+ units with some franchisees having tenures of more than 30 years > Company-owned commissary with capacity to support more than 400 stores without material incremental capex ◆ Strong Combined Leadership: Current leadership will remain in place and together we will form a highly complementary operating group focused on disciplined execution and growth. > Existing team has a strong industry reputation and deep brand knowledge > We will join and, as appropriate, bring additional highly-skilled leaders ◆ Clearly Defined and Quantified Growth Levers: The strategy emphasizes franchising-led growth and capital-efficient corporate development. > Opportunity to shift and grow higher-margin franchise royalties while leveraging the existing infrastructure > Dual-brand format already deployed in nearly 20% of the system generating meaningful sales and EBITDA uplift with attractive cash-on-cash returns and reasonable payback periods > Identified near-term EBITDA upside from analytics-based initiatives already underway across labor efficiency, food cost optimization, and operational improvements ◆ Attractive Entry into Scaled Platform: We are seeking the remaining capital to acquire the business at an attractive valuation with a stable operating base and strong unit-level economics. > Total capital raise of $35-45 million reflecting a###-###-#### 7x company EBITDA multiple, and deal fees along with remodel and working capital dollars > Open and flexible approach to the capital stack, including equity and debt with one or multiple participants