Post-close · Multi-Unit Restaurants

Multi-Unit Restaurants Platform & Add-On Integration: An Independent Sponsor's Counsel

Independent sponsor counsel for multi-unit restaurants, focused on Platform & Add-On Integration and the deal mechanics that protect sponsor economics and LP alignment.

EV range $8M to $80M EV EBITDA $2M to $14M Audience Independent Sponsor
The deal context

Platform & Add-On Integration on multi-unit restaurants deals is one of those workstreams that looks routine on a checklist and decides outcomes in practice.

The typical multi-unit restaurants platform sits at $8M to $80M EV with EBITDA in the $2M to $14M range. The thesis runs on franchisee roll-up or regional concept acquisition. The franchisor consent letter is the deal. Get it lined up before you spend money on diligence.

The moves

How Platform & Add-On Integration actually gets structured.

  1. Plan integration sequencing in the 100-day plan, with clear go-live dates.

  2. Map customer contracts, vendor relationships, and employee benefits for transfer.

  3. Update the platform's operating agreement to reflect new add-on equity and governance.

  4. Coordinate insurance program consolidation across platform and add-on entities.

  5. In multi-unit restaurants, layer in franchisor LOI letter requested before market as part of the Platform & Add-On Integration workstream.

The common mistake

Leaving the add-on as a parallel entity. The synergies live in the integration, not the addition.

Jason's take
"Integration is when the multiple actually expands. Plan it as a deal, not an aftermath."
Jason Powell · Platform & Add-On Integration
Capital after close

The deal is one thing. The capital that opens up after close is another.

After close, the call list for refinancing, recapitalization, and growth equity gets short and known. Jason carries that list.

MONTH 18
Senior refi
MONTH 24
Dividend recap
MONTH 36
Growth equity
YEAR 4–5
Strategic exit
ENGAGE THE PRACTICE

Platform & Add-On Integration for Multi-Unit Restaurants, on independent sponsor terms.

Independent sponsor counsel that already speaks fluent deal-by-deal economics, structures clean LPAs, and travels with capital markets relationships for what comes after close.