MasterClassTM

Capital Roundtable

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The Deal
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Third Annual MasterClass™ on
Private Equity Investing In

Middle-Market Restaurant Companies --
Sponsors Show Renewed Appetites
As Valuations Come Back to Earth

Attendance for This Program is Limited--
Register Now

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FULL-DAY MASTERCLASS
Wednesday, January 23, 2008
8:00 am - 5:00 pm

New York City


HALF-DAY PRE-MASTERCLASS WORKSHOP (Optional)
Fundamentals of Doing Middle-Market Restaurant Deals
Tuesday, January 22, 2008

2:00 pm - 5:00 pm

New York City

Designed to Meet the Needs of GPs & LPs of Buyout, Venture Capital,

& Hedge Funds, as Well as Executives of Portfolio Companies, 

& the Bankers, Lenders, Lawyers, & Other Advisors Who Support Them

Faculty | Schedule | Registration | Location | Sponsorship | Audio Package|

Over the past three years, private equity’s hunger has been fed by a spate of restaurant deals – Bojangles, Wetzel's Pretzels, and Peter Piper Pizza, to name a recent few. But now the restaurant industry is feeling the indigestion from the highly levered deals of the past couple years .

Many restaurant companies are faced with both the inability to reinvest in their businesses and to meet short-term liquidity requirements. Belt-tightening by consumers isn’t helping matters. As a result, more and more bankruptcy situations are cropping up, and many other companies are teetering on the edge.

However, a silver lining of this shaky situation is that valuations are coming back down to earth.  So now there’s a good chance to pick up some solid deals at 5.5-6.5 times ebitda, down from the 7.0 -11.0 levels of a year ago.  Ironically, buying opportunities over the next 24 months may be better than over the past two years!

So, we invite you to The Capital Roundtable’s Third Annual MasterClass on P.E. Investing in Middle-Market Restaurant Companies, which will address the many issues that have arisen since the credit crunch unearthed some of the sins of the past.

Chairing the program will be Joel Holsinger, managing director at Atalaya Capital Management LP and a veteran of over ten years dealing with restaurants in all capacities – investor, lender, advisor, and even operator.

We’ve put together an illustrious panel of experts from all areas of the industry who will talk trends and opportunities, providing fresh insight.

You’ll see why some of the best buying prospects will likely be on three fronts:

  • distressed M&A
  • regional operators
  • and large, tier one franchisees

The classic mantra of good company, bad balance sheet will play out over the next couple years where there will be opportunities to step in or buyout companies inside and outside of bankruptcy at attractive valuations.  In the regional brands, opportunities exist to buy players with solid cash-on-cash growth in their core markets and are a few of the last bastions in the industry of strong sales to investment ratios.

Likewise is the chance to pick up large high-quality name-brand franchises at multiples of 4.5 or 5.5 times ebitda – lower than they’ve been in more than two years.

At the end of this full-day program, you’ll take away an in-depth understanding of the topportunities and threats in the restaurant industry.  You’ll learn how to look for opportunity and where to find value.  Plus, you’ll get the chance to meet and network with many seasoned players in the sector.

Sign up for this MasterClass now and get a special early-bird rate.

And while you’re at it, consider enrolling in our special half-day workshop the day before (Tuesday, January 22), focusing on the “Fundamentals of Doing Middle-Market Restaurant Company Deals.”


Attend this full-day MasterClass, and you will --

  • Learn why the past 24 months were a good time to be selling restaurants, and why the next 24 months will be a good time to buy
  • Find out why the casual dining sector has been hardest hit despite the move to raise prices to offset escalating costs
  • Identify characteristics inherent to the cyclical restaurant industry, as well as pitfalls and how to avoid them
  • Learn how the recent reversal of the trend to eat at home has hit restaurants and will continue to play a significant role
  • Understand how the tough decision of whether to invest capital into the business or use it to pay off debt has comprised many restaurants
  • Learn where to look for distressed M&A opportunities

  • Identify attractive characteristics of certain regional players – one niche where growth is still strong

You absolutely should not miss this MasterClass if you are a --

  • GP or LP considering potential portfolio companies in the restaurant industry
  • Private equity sponsor with restaurant portfolio companies
  • Experienced investor in one restaurant subsector and seeking broader knowledge
  • Hedge fund manager or venture capitalist who is considering investments in restaurants
  • Lender wishing to back restaurant transactions
  • Attorney who advises on M&A deals in the restaurant industry
  • Investment banker who actively pursues deals in the restaurant industry
  • Executive search professional recruiting for the restaurant industry

 

For more information, please feel free to speak with Heather Sote at 212/832-7333 ext. 111 or hsote@capitalroundtable.com.

This program is being produced by The Capital Roundtable™, the country's sole educational conference organization focused exclusively on the private-equity community.

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Faculty

Chaired By

  • Joel A. Holsinger, Managing Director, Atalaya Capital Management LP

Hosted By

  • Burt Alimansky, Managing Partner, Alimansky & Bethell Group, and Chairman, The Capital Roundtable

Speakers

  • Douglas N. Benham, President & CEO, DNB Advisors LLC
  • Kevin A. Blackwell, Chairman & CEO, Kahala Corp.
  • Benjamin F. Cary, Senior Vice President, Trinity Capital LLC (workshop)
  • Toby Chambers, Managing Director, Roark Capital Group Inc.
  • E. Stockton Croft, Director, Arcapita Inc.
  • Seth D. Fink, Senior Vice President, Ableco Financial LLC
  • Rodney L. Guinn, S.V.P. & Managing Director, Wells Fargo Foothill Inc.
  • Robert Hersch, President, Mastodon Ventures Inc.
  • C. Wilson House, Senior Vice President, Morgan Keegan & Co. Inc.
  • Allan Hickok, Managing Director, Houlihan Lokey Howard & Zukin Inc.
  • Daniel Jinich, Managing Partner, Acon Investments LLC
  • Michael J. Lang, Managing Director, CTS Capital Advisors
  • Steven R. London, Partner, Pepper Hamilton LLP (masterclass and workshop)
  • Matthew L. Nelson, Managing Director, Wells Fargo Foothill (workshop)
  • James A. Peko, Principal, Grant Thornton LLP
  • Michael K. Press, S.V.P. & Managing Director, Realty Income Corp.
  • Cameron P. Reilly, Principal, Black Canyon Capital LLC
  • Thomas Sandeman, Chief Financial Officer, Piccadilly Restaurants LLC
  • Enrique Silva, President & CEO, Checkers Drive-In Restaurants Inc.
  • Robert M. Vincent, Chief Financial Officer, Uno Restaurant Holdings Corp. (workshop)
  • Chuck Winship, Chief Executive Officer, Beef O' Brady's Inc.


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Schedule

MasterClass
07:30 - 08:30
08:30 - 09:00
09:00 - 09:45
09:45 - 10:30
10:30 - 11:00
11:00 - 12:00



12:00 - 01:00
01:00 - 02:00


02:00 - 02:45
02:45 - 03:15
03:15 - 04:15

04:15 - 05:15
             

              05:15
Workshop

01:30 - 02:00
02:00 - 05:00

  

Wednesday, January 23, 2008
Registration, Networking, & Continental Breakfast
Welcoming Remarks & Audience Introductions
First Keynote -- High Level Trends & Forecasts
Second Keynote -- View from the Investment Trenches
Coffee & Networking Break
First Panel -- From the Trenches – Why P.E. Investors Find Restaurant Deals Attractive & How They’ve Evolved Their Investing Norms & Styles

(This panel features 4 private equity investors that do different sizes and types of deals.)
Luncheon & Networking

Second Panel -- Deal Flow & Structuring – View of the Market’s Changing Conditions & Deal Points (This panel features 4 speakers – a sale leaseback person, a senior lender, a lawyer, and an investment banker.)
Afternoon Keynote
Coffee & Networking Break

Third Panel -- War Stories – Restaurant Buyouts—Perspectives From CEOs & CFOs (This panel features 4 CEOs and/or CFOs )

Fourth Panel -- Turnarounds, Workouts, and Restructuring in the Restaurant Industry (This panel features a lawyer, a private equity investor, a distressed expert, turnaround expert and an accountant.)
Adjournment & Networking
Pre-MasterClass Workshop (optional) Tuesday, January 22
Registration & Networking
Workshop --
Workshop: Fundamentals of Doing Middle-Market Restaurant Company Deals

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Registration

  • The regular registration fee is $1895 for the MasterClass -- or $2295 for both the MasterClass and Workshop.
  • At the door, if space is available, the fee is $2095 for the MasterClass -- or $2495 for both the MasterClass and Workshop .
  • Special group rates -- The Capital Roundtable offers a special rate for 3 or more people from your firm.  For more info, please contact Amy Geiger at ag@capitalroundtable.com or 212/832-7333 ext 106.

 

Click Here to Register >>     Purchase Audio Package >>


You can pay by credit card (using the links above) or by check. Mail your check and business card to: New York Business Roundtable Inc., 12 East 44 Street, Penthouse, New York, NY 10017.

If the program is oversubscribed, we will notify you immediately and not charge your credit card.  (If you need to cancel, please do so by Wednesday, Jan 16, at 5:00pm, and we will credit you for a future meeting.)


From time to time, for reasons beyond Capital Roundtable's control, program schedules and speakers become subject to change.  We make every effort to announce substantive changes by email to registrants at least 48 hours in advance.

Have a special question?  Please contact Heather Sote at 212/832-7333 ext. 111 or by email at hsote@capitalroundtable.com.

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Location

Midtown Manhattan location in an exclusive private club.

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Audio Package

Can't attend but want to hear the program? You can buy the audio package along with the handouts. Purchase the audio package online now.

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Sponsorship

The Capital Roundtable offers excellent sponsorship opportunities to reach the middle-market private-equity community. For more details contact Amber Mahood at 212/832-7333 ext. 103 or by email at amahood@capitalroundtable.com.

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