2019

Unbridled Capital recently provided sell-side advisory to BBG Specialty Foods on the sale of 4 Taco Bell restaurants in Alabama. The restaurants were sold to Tacala, LLC, one of the country’s largest franchisees.

“We are very thankful to Unbridled Capital for representing us in the sale of our Taco Bell business. Their relationships, expertise, professionalism and constant availability were big difference makers in getting our business sold efficiently and for the best price. Not only do I trust them, but I would highly endorse their work to all of my colleagues, franchisees and friends,” said franchisee Charles Nailen.

“It is bittersweet to see the Nailen family leave Taco Bell after so many successful years. I’ll never forget their integrity, positive attitude, love of life and love for the Taco Bell brand. This was one of the fastest transactions we’ve completed, and I am thankful to Derek Ball and our entire team for paying attention to every detail in securing the best outcome for the Nailens in the shortest time. We wish Charles and Kay the very best as they exit the Taco Bell system, and we congratulate the entire Tacala organization on this acquisition,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Taco Bell Foundation. We want to give back to the employees who are so important to the success of the Taco Bell brand. We want to be a blessing because we’ve been blessed.

With several hundred restaurants under current M&A assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected]

Unbridled Capital recently provided sell-side advisory to Que Taco Enterprises and D&M Holdings on the sale of 11 Taco Bell restaurants in Colorado. The restaurants were sold to existing multi-unit franchisee Rob Alvarado of Alvarado Concepts.

“Unbridled did a first-class job in representing us in this sale. They were thorough, patient, trustworthy and intently focused on getting the deal closed, despite several delays. Not only was I impressed by their expertise, but they were always available, no matter what time of day. Their availability gave us a high amount of comfort that the outcome would be successfully achieved. The Unbridled Capital team would receive my very highest endorsement to any franchisee considering a sale of their business,” said franchisee Mike Hoffman.

“Unbridled has four cornerstone principles: being comprehensive, innovative, relatable and passionate. This transaction took longer than normal to complete, and I am proud of our team’s passionate execution and comprehensiveness throughout the process to champion our clients’ best interests. We wish Mike and Kim Hoffman the very best as they exit the Taco Bell system, and we congratulate the Alvarado family on yet another acquisition,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Taco Bell Foundation. We want to give back to the employees who are so important to the success of the Taco Bell brand. We want to be a blessing because we’ve been blessed.

With about 15 active and recent Taco Bell assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to Taco Bill and Tacos El Camino on the sale of 6 Taco Bell restaurants in California. The restaurants were sold to existing multi-unit franchisee Taylor Loesch of T & K, LP.

“Rick helped us in the sale of our Baltimore Taco Bell market several years ago. Since then, he has really built an excellent team at Unbridled – they are responsive, analytically-minded, detail-oriented, creative in finding solutions and possess strong critical-thinking skills. We really benefited from their dedication to getting this transaction closed as effectively as possible. Unbridled would receive our highest recommendation as a franchise M&A advisor,” said franchisee Chris Walsh.

“This is the second sell-side transaction I’ve been a part of on behalf of Bill and Chris’s Taco Bell businesses. They are gentlemen, and we are very thankful that they chose us to represent them in this sale. As longstanding franchisees, Bill and Chris will be missed in Taco Bell system. For Taylor, we congratulate his organization on their first acquisition since Taylor acquired the business from his father. We look forward to watching T & K continue to grow in the future. We wish all parties the best of success in their future endeavors,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Taco Bell Foundation. We want to give back to the employees who are so important to the success of the Taco Bell brand. We want to be a blessing because we’ve been blessed.

With about 15 active and recent Taco Bell assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected]

Unbridled Capital recently provided sell-side advisory to Bullock-Scott Restaurant Group LLC of TN, GA, AL and Carreca Enterprises, Inc. on the sale of 45 Pizza Hut restaurants in Tennessee, Georgia and Alabama. The restaurants were sold to new franchisee GPS Hospitality, one of the country’s largest restaurants operators with roughly $650MM in annual revenues and 388 Burger Kings & 19 Popeye’s.

“Rick and his team at Unbridled Capital did a superb job for our family. We knew we needed an advisor who had connections with family-offices and large franchisees outside of the Pizza Hut system, and Unbridled specializes in making a broader market beyond the existing franchise base to get higher prices with lower deal risk. Indeed, they brought several well-capitalized buyers to our business to make offers at record prices. Equally as important, they provided substantial help in finding solutions during due diligence, with lease assignment challenges and with asset allocations to positively impact our tax liability. We would wholeheartedly recommend them to anyone considering a sale of their franchise,” said Jeff Bullock.

“We are thankful to Jeff and the entire family for the opportunity to have represented them, and we wish them the very best in this new stage of their lives. Over the past 18 months, Unbridled has sold about a dozen Pizza Hut businesses, many of them to family-office buyers we’ve introduced to the Pizza Hut brand. In this case, we are super-excited to welcome GPS Hospitality to Pizza Hut. They are great people with a proven track record of world class operations and brand stewardship. Congratulations and warm wishes to Tom Garrett, Scott Jasinski, Chris Phillips and the entire GPS team,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Pizza Hut museum at Wichita State University. We want to show our respects to the fantastic legacy of the Pizza Hut brand. We want to be a blessing because we’ve been blessed.

With about 50 recent and active sell-side M&A assignments across a variety of brands, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to Bells and Birds, Inc. on the sale of 8 Taco Bell restaurants in Louisville, KY. The restaurants were sold to existing franchisees Judd and Erica Wishnow of ABTB Louisville LLC. Bells and Birds will continue operating as a large Taco Bell and KFC franchisee in Michigan, Indiana and Ohio.

“We are very thankful for Unbridled Capital’s expertise and support on this transaction. They have been a great partner for us over the past year. We value their integrity, relationships with franchisees and analytical expertise. We would highly recommend them to anyone looking to buy, sell or finance a franchise business,” said Rodney Walker, President of Bells and Birds, Inc.

“It was an honor to work with Rodney, Jim and their partners on this transaction. Several years ago, I helped them buy these restaurants, and they have operated successfully in this market ever since. The Unbridled team looks forward to continuing to be customers and supporters of these Taco Bell locations in our hometown of Louisville, KY. We wish Rodney and his team – as well as Judd & Erica – many blessings as they continue to grow their respective restaurant businesses throughout the region with such an awesome brand as Taco Bell,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Taco Bell Foundation. We want to give back to the employees who are so important to the success of the Taco Bell brand. We want to be a blessing because we’ve been blessed.

With about 15 active and recent Taco Bell assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to High Plains Pizza on the sale of 82 Pizza Hut restaurants in MT, WY, UT, CO, KS, OK and TX. The restaurants were sold to existing franchisee Grand Mere Capital, led by Mike Cherney.

In 1962, Bill Colvin decided to leave the oil industry and venture out into franchising with the Pizza Hut Brand. Bill and then partner Norman Blankenship opened their first location in Liberal, Kansas in 1962, and after their partnership split, Bill and his family grew to own and operate Pizza Hut restaurants throughout the country. Their focus was on quality, service and giving back to their communities. Not surprisingly, High Plains Pizza became known for its brand leadership and for having some of the best and highest volume dine-in restaurants in the entire Pizza Hut system. Bill had four sons who became involved in the business: Kent, Mike, Tracy and Greg. Kent became President of High Plains Pizza and shepherded its growth and vision. Kent’s imprint on the Pizza Hut brand will continue to be seen for many years to come.

“I have known and trusted Rick Ormsby for many years. When we came to the decision to sell our 56-year-old family business, there was no hesitation in turning to Unbridled Capital to represent High Plains Pizza. Unbridled played an instrumental role in helping us through this transition. We appreciate their relationships with buyers, their analytical expertise, their integrity, their persistency and their friendship. We would highly recommend Unbridled Capital to anyone looking to sell or finance their business,” said Kent Colvin.

“We feel honored to have represented High Plains Pizza in this transaction. It is humbling to work for such a successful and tenured franchisee of over 56 years. It is no exaggeration

to say that Kent Colvin, his family and staff are among the most honorable, professional and impressive clients we have had the privilege of representing. We wish them many blessings as they enter a new phase of their lives. We also congratulate Mike Cherney and Grand Mere Capital on our third acquisition together in the past 18 months. They have now grown to about 150 Pizza Huts, and we are certainly excited to watch them succeed and help change the culture and future of the Pizza Hut brand,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Pizza Hut museum at Wichita State University. We want to show our respects to the fantastic legacy of the Pizza Hut brand. We want to be a blessing because we’ve been blessed.

With about 15 active and recent Pizza Hut assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to Mass Burgers and related entities on the sale of 13 Five Guys restaurants around Boston, Massachusetts. The restaurants were sold to existing franchisee Jeff Howes of Mass 5G LLC.
“We would highly recommend the Unbridled Capital team. Their connections to buyers across the country, knowledge of franchise M&A, analytical expertise and persistence throughout the process were instrumental in completing this transaction successfully,” said Marc Magerman.

“The Five Guys brand has been a great growth story, and it was an honor to represent Mass Burgers in this transaction. Because this was a platform acquisition within the Five Guys brand, there was substantial interest and high valuations here. The buyer has restaurant holdings in various states – a growing trend as franchise consolidation increases. We congratulate both parties on a successful transaction,” said Rick Ormsby, Managing Director.

With over 40 active and recent M&A assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected]

Unbridled Capital recently provided sell-side advisory to Dan Lewis and his family on the sale of 3 Taco Bell restaurants in Lodi, California. The restaurants were sold to existing franchisees Dave Engen and Brent Flynn of Engen Ventures, Inc.

Dan’s father Fred Lewis started in the retail business in Burbank, CA as a gas station owner, where he met Burt Baskin and Irv Robins. He quickly became a Baskin & Robins franchisee in San Bernardino 1956, where he opened the 30th store in the system. Mrs. Lewis loved Mexican food, and they would frequent one of Glenn Bell’s pre-Taco Bell Mexican restaurants in San Bernardino. They met Glenn at a 1965 Franchising Convention in the area and became Taco Bell franchisees in 1967. Dan joined the business in 1975, and by 1987, the Taco Bell in Lodi had the 2nd highest sales in the entire system. They opened two other stores in 1993 and 2000. In 2005, daughter Carrie came to work in the family business as an Above Store Leader. In 2013, son Mark began working for his father, serving as Director of Operations. In 2018, one of their Taco Bell locations was ranked #1 in the country in VOC scores.

“My experience with Rick Ormsby and his team at Unbridled was very pleasurable. I was impressed with their knowledge to walk me through this process, and the Unbridled team modeled integrity throughout the transaction. I would highly recommend them,” said Dan Lewis.

“It goes without saying that the Lewis family has had a tremendous legacy within the Taco Bell brand for 52 years. After working with hundreds of clients, I can honestly say that I have met very few people who I respect more than Dan Lewis. He is a successful

businessman who does it the right way – with humility, kindness and a genuine care for other people. It was an honor to help Dan and his family through this exciting and emotional time. We wish them many blessings as they enter a new phase of their lives, and we also congratulate Dave Engen, Brent Flynn and the entire Engen Ventures organization on a successful closing,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Taco Bell Foundation. We want to give back to the employees who are so important to the success of the Taco Bell brand. We want to be a blessing because we’ve been blessed.

With about 15 active and recent Taco Bell assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services.  For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

2018

Unbridled Capital recently provided sell-side advisory to Kenmar Ventures on the sale of its 5 Little Caesar’s restaurants in Tennessee. Kent Turtle and his family were successful Little Caesar’s franchisees for many years. The business was sold to Quantum Restaurants.

With over 20 active assignments and closings expected in the next few months, Unbridled Capital is continuing its unprecedented growth in the franchise investment banking community. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to Border Management Corporation on the sale of its 2 Taco Bell restaurants in Amarillo, TX. John Camp and his family have been successful Taco Bell and Pizza Hut franchisees for many years, and they will continue operating their remaining multi-unit restaurant business. These 2 Taco Bells were sold to Alvarado Concepts LLC.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Taco Bell Foundation. We want to give back to the employees that are so important to the success of the Taco Bell brand. We want to be a blessing because we’ve been blessed.

With 13 recent and active sell-side M&A assignments within the Taco Bell brand, Unbridled Capital provides the franchise community with unrivaled investment banking services.  For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to Chambers Enterprises LTD on the sale of its 6 KFC restaurants in Ohio and Kentucky.

Keith Chambers is one of the most recognizable and respected franchisees in the entire KFC system.  His KFC Journey started 43 years ago with franchisee Bob and Anne Bagshaw, who encouraged Keith and his wife Carol to become KFC franchisees 30 years ago. Keith is also a servant leader, having served as past AKFCF President, 12 years on the NAC/NCAC boards and 4 years as NAC Chair/NCAC Vice Chair. He presently serves on the RSCS-KFC Concept Board and as the AKFCF Archive Chair.

“It was a privilege to work with the Unbridled Capital professionals, particularly Rick Ormsby and Derek Ball, whose expertise and service-based attitude, sometimes 7 days a week, day and night, added tremendous value to our transaction…and KFC transition,” said Keith.

“We are very thankful to have helped Keith and his wife Carol in the sale of their life’s work. Keith is an honorable man, a well-respected franchisee and a friend. While this concludes a wonderful chapter in their journey, I am certain that Keith and Carol have a fantastic future ahead. I hope fellow franchisees take the opportunity to thank Keith for all he has done for the KFC brand. Finally, we congratulate KBP Foods on yet another acquisition,” said Rick Ormsby, Managing Director.

As a condition of this and one other closing, Unbridled Capital has made a charitable contribution of $20,000 to the KFC Foundation. Especially during the Christmas season, we want to give back to the employees that are so important to the success of the KFC brand. We want to be a blessing because we’ve been blessed.

With 10 active and recent KFC assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services.  For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to the Bagshaw family on the sale of 24 KFC and multi-brand restaurants in Ohio and Northern Kentucky. The restaurants were sold to KBP Foods.

In 1971, Bob and Anne Bagshaw started in the KFC business with then partner, Marvin Payne, in Jackson, Ohio. In May of 1972, the Bagshaw’s opened the Hillsboro, Ohio KFC and Payne kept the Jackson KFC. Over the years, the Team Bagshaw organization grew to become one of the most successful and well-known franchisees in the KFC system. Many franchisees will readily say that the Bagshaw family has had an enormous impact on their careers and livelihoods.

Second generation franchisees Jeanine Bagshaw and brother Bruce Bagshaw were 29-year franchisees. Like many, they grew up working in KFC restaurants and supporting the family business. Returning from college, they shared in growing Team Bagshaw from nine to the current twenty-four restaurants. Starting with Bob and Anne, the family was active and served in leadership positions in the Great Lakes and Southeast Regional franchise associations, a theme that continued through the third generation with Rob Holt, Jordan Anne Phillips and Blake Bagshaw.

“The decision to transition was a tough one, mainly due to the wonderful people we know and respect in the KFC Family. However, it was the right time for our family,” shares Jeanine. “Once we knew our direction, Rick and Derek were there to assist and made the transaction as seamless as possible. We appreciate their expertise and guidance, and highly recommend Unbridled Capital.”

“This assignment was a very, very special one for us. For years, I have had a profound respect and appreciation for Team Bagshaw. From their best-in-class restaurants, to their integrity, to their longevity, and to their love for the KFC brand, they are a model for what every franchisee should be. It has been an extreme honor to represent Jeanine, Bruce and the entire Team Bagshaw family. We are very thankful to have been a part of their story, and we wish them the best in the next phase of their lives,” said Rick Ormsby, Managing Director.

As a condition of this and one other closing, Unbridled Capital has made a charitable contribution of $20,000 to the KFC Foundation. Especially during the Christmas season, we want to give back to the employees who are so important to the success of the KFC brand. We want to be a blessing because we’ve been blessed.

With 10 active and recent KFC assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to PH Hospitality Group,
LLC on the sale of its 43 Pizza Huts in the Milwaukee area. Mark Dillon is a longterm franchisee, and he will continue operating a smaller Pizza Hut business in
Wisconsin. The restaurants were sold to EYM Pizza of Wisconsin, LLC.

“This is yet another transaction involving a growth-oriented buyer who is a
significant consolidator within multiple brands. EYM Restaurant Group is now
one of Pizza Hut’s largest franchisees. We congratulate both groups on a
successful closing,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable
contribution to the Pizza Hut museum at Wichita State University. We want to
show our respects to the fantastic legacy of the Pizza Hut brand. We want to be a
blessing because we’ve been blessed.

With about $500,000,000 in active and recent Yum assignments, Unbridled
Capital provides the franchise community with unrivaled investment banking
services. For more information, please contact Rick Ormsby at 502-252-6422 or
[email protected].

Unbridled Capital recently provided sell-side advisory to Silver Oak Management
Corporation on the sale of its 5 Taco Bell restaurants in Sacramento, CA. Walter
Plunkett is a long-term franchisee, and his family will continue operating a
smaller Taco Bell business in the area. The restaurants were sold to Pacific Bells,
LLC.

“With over $2MM AUVs in a very-tight geography, these 5 restaurants have been
a great business that will hopefully continue successfully for many years. We
congratulate Walter, Robin and Chris as well as the entire Pacific Bells team on
the acquisition,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable
contribution to the Taco Bell Foundation. We want to give back to the employees
that are so important to the success of the Taco Bell brand. We want to be a
blessing because we’ve been blessed.

With about $500,000,000 in active and recent Yum assignments, Unbridled
Capital provides the franchise community with unrivaled investment banking
services. For more information, please contact Rick Ormsby at 502-252-6422 or
[email protected].

Unbridled Capital donates $5,000 to the Taco Bell Foundation at FRANMAC to help fund college tuition for team members

Unbridled Capital recently provided sell-side advisory to William F. Alford Co. on the sale of its 14 KFC restaurants in the Southwest Michigan area. Rich Alford and Ashley Courtland were third-generation franchisees, and the Alford family spent over 50 years successfully operating from Niles, Michigan. The restaurants were sold to KBP Foods.

“For over 50 years, the Alford family has been one of the most tenured and respected franchisees in the KFC system. We are honored that they entrusted Unbridled Capital to handle the sale of their life’s work. This transaction represents a growing trend: that KFC franchisees are now realizing the complexity of today’s M&A transactions and are increasingly in need of the unique and sophisticated guidance that Unbridled offers. We wish many blessings to Rich and Ashley and congratulate KBP Foods on the acquisition,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the KFC Foundation. We want to give back to the employees that are so important to the success of the KFC brand. We want to be a blessing because we’ve been blessed.

With about $200,000,000 in recent KFC assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to Tennyson Enterprises (and related entities) on the sale of its 10 Pizza Huts in Iowa and Missouri.

The restaurants were sold to IMO Huts, Inc., led by Greg Shelton and Doug O’Connor. The Shelton family are Wichita-based franchisees with a rich history and legacy in the Pizza Hut system.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Yum Foundation. We want to give back to the employees that are so important to the success of these brands. We want to be a blessing because we’ve been blessed.

With dozens of recent assignments, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services.  For more information, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory services to Papa John’s International on the sale of its 30 locations in the Minneapolis area. The market was sold to existing franchisee Ricky Warman and related entity(s).

Unbridled Capital acted as refranchising agent for Papa John’s in this transaction. For more information on acquiring larger Papa John’s markets, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to RCGF, LLC on the sale of its 6 Taco Bell locations in South Texas. RCGF was led by Bob Kusenberger, and the restaurants were sold to Emerge! Properties, LLC, led by Kamal Singh.

“This transaction represents a growing trend of aggressive, millennial buyers who are looking to enter new brands and develop a strategy of consolidation and significant near-term growth. In this case, Kamal is a large existing KFC and Sonic franchisee, and this acquisition positions him to grow into a third brand in Taco Bell that has an impressive track record and growth trajectory,” reports Rick Ormsby, Managing Director at Unbridled Capital.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Taco Bell Foundation. Unbridled seeks to give back to the employees that are so important to the success of these brands. “We want to be a blessing because we’ve been blessed,” states Ormsby.

With approximately 20 current sell-side M&A engagements nationwide, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected]

Unbridled Capital recently provided sell-side advisory to Papa Murphy’s International on the sale of its 18 locations in the Denver and Colorado Springs areas.

Papa Murphy’s sold to Fresh Take LLC, led by Ryan McCallister, Tyler Ross and Brad Seymore. At closing, the trio now operates 28 total stores in Colorado.

Unbridled Capital acted as refranchising agent for Papa Murphy’s. For more information on the brand, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to WKRP Management LLC (and related entities) on the sale of its 39 Pizza Huts in Colorado, Kansas and Missouri. Terry Ruder, Steve Patton and Nestor Weigand were legacy franchisees with an outstanding business and long history of excellence in the Pizza Hut system.

WKRP sold to new franchisee, Grand Mere Capital, led by Mike Cherney. This is the second Pizza Hut acquisition for Grand Mere in the past 8 months. Unbridled sold 23 Pizza Huts to them last year. As of the close of this transaction, Grand Mere now owns 62 Pizza Huts.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Yum Foundation. We want to give back to the employees that are so important to the success of these brands. We want to be a blessing because we’ve been blessed.

With approximately 250 Pizza Huts for sale nationwide, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services.  For more information, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to The Matlock Restaurant Group on the sale of its 3 Taco Bell and KFC locations in Tennessee and Kentucky. Owners Johnny and Pam Matlock sold to Charter Foods LLC, led by Bob Jenkins.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Taco Bell Foundation. We want to give back to the employees that are so important to the success of these brands. We want to be a blessing because we’ve been blessed.

With approximately 20 current sell-side M&A engagements nationwide, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services. For more information, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected]

In our industry, sometimes it is easy to get focused on transactions, interest rates and EBITDA and forget the bigger and more important part of this business – the employees who are so critical to its success.

Over the years, we have all been touched to hear of so many stories of changed lives that started as an hourly worker in a restaurant. Here are a few themes: Broken families brought together. Achievement and advancement. Confidence and self-esteem. College graduations. Training that lasts a lifetime. Relationships and friendships in difficult times.

At Unbridled Capital, we want to show our appreciation for the hard-working employees who run these businesses. Going forward, Unbridled will make a charitable donation to a Restaurant Foundation for deals we close – and within each particular brand when possible.

“As a business owner, I know that the front-line employees make all the difference, yet they are often underrecognized and underappreciated in our narrow world of M&A and financing. At Unbridled, we want to be different. We want to financially contribute to the Foundations that support the employees within the brands we serve. Our goal is to raise thousands of dollars each year. We want to be a blessing because we have been blessed,” says Rick Ormsby, Managing Director.

For more information on Unbridled Capital, please feel free to visit www.unbridledcapital.com or each Rick Ormsby directly at 502-252-6422 and [email protected]

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, provided sell-side advisory to La Raza Pizza, Inc. on the sale of its 43 Pizza Huts in Indianapolis. The selling franchisee, Gene Camarena, is a legacy franchisee with a long history of excellence in the Pizza Hut system. Gene and his family sold the Indianapolis market to new and growing franchisee, Quality Huts, a portfolio company of GenRock Capital Management.

With approximately 500 restaurants for sale across numerous brands, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services.  For more information on Unbridled Capital, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, provided sell-side advisory to Wheeler Enterprises, Inc. on the sale of their 15 restaurants (12 KFCs and 3 KLs) in Ohio, West Virginia and Pennsylvania. Larry and Mrs. Wheeler, and their sons Chad, Brandon, and Brian, have been successful and respected KFC franchisees for many decades, dating back to when Larry opened their first restaurant in the 1970’s. The Wheelers divested their restaurants to KBP Foods, KFC’s largest franchisee with almost 600 restaurants.

With over 500 restaurants for sale across numerous brands, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services.  For more information on Unbridled Capital, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital Sponsors Taco Bell Foundation Cornhole Tournament at the Franchise Forum and Wins 1st Place

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, closed the following transaction in December: Cecil Eiserer and SEC Restaurants sold their 17 Pizza Hut restaurants, including the underlying real estate, to existing Pizza Hut franchisee Legacy Pizza. These restaurants are located throughout Alabama. Unbridled provided sell-side M&A advisory to SEC Restaurants. “The buyer in this transaction represents a progressive trend in the business, which is an influx of 30- to 40-year-old operators who are backed by investors and family offices. And we’re seeing this within the legacy brands,” said Rick Ormsby, managing director of Unbridled Capital. “Private equity is more an option for companies with $8 million to $10 million in EBITDA or more. For companies with $2 million to $5 million in EBITDA, private equity just isn’t interested, but it is a good play for a smaller family office. And, they don’t have the timeline that PE usually does, which is an exit anywhere from five to seven years.” Unbridled Capital decided to focus on family offices as a source of M&A and equity financing for their multiunit restaurant clients—those deals that represent 20 to 70 units. “While we will do larger deals and have established relationships with private equity, that segment is underserved,” said Ormsby. For more information on Unbridled Capital, Rick Ormsby, at 502-252-6422, or [email protected].

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, provided buy-side advisory to KC Bell in the Corporate divestiture of 6 Taco Bell restaurants in the the Southern Kentucky and Northern Tennessee areas.

With over 500 restaurants for sale across numerous brands, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services.  For more information on Unbridled Capital, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

2017

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, provided sell-side advisory to KC Bell on their sale of 39 Taco Bells in the Kansas City area in November. KC Bell, a franchise for more than 20 years, sold the restaurants to Royal Bell, Inc., an affliate of A&C Ventures. A&C Ventures, led by David Grieve, will operate 189 Taco Bell locations. KC Bell, Inc., led by Paul Hoover, remains a Taco Bell franchisee in several other markets nationwide. With almost 500 franchise restaurants currently for sale in large groups across several brands, Unbridled Capital expects a very active 2018. For more information on Unbridled Capital, contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, closed the following transaction in October: Sell-Side M&A Advisory:Dave Curnutt and related entities, franchisees for five decades, have sold 23 of their Pizza Hut restaurants, including the underlying real estate, to new Pizza Hut franchisee Grand Mere Capital, led by Mike Cherney. These restaurants are located in the Kansas City area, as well as around Columbia, Mo. For more information on Unbridled Capital, contact Managing Director Rick Ormsby at 502-252-6422 or [email protected] unbridledcapital.com.

Unbridled Capital, an advisory firm focused primarily on the restaurant industry, closed the following transaction in a sell-side M&A advisory role: A franchisee for four decades, Bill Cutrer has sold his four KFCs to Overland Park, Kansas-based KBP Foods, including one underlying parcel of real estate. The four restaurants are located in the Topeka, Kan. area. Unbridled Capital provides investment banking services such as M&A advisory and capital raising for multi-unit restaurant businesses. For more information, contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital, an advisory firm focused primarily on the restaurant industry, closed the following transaction in a buy-side M&A advisory role: KFC newcomer, Lonnie Noble and Noble Pursuit, LLC, recently purchased six KFC restaurants from franchisee, Brent Ross, of Lenella and Tarapa Corporations. The underlying real estate was sold to BayHill Realty Capital. The restaurants are in Southern California and Arizona. At the close of the transaction, Noble Pursuits owns seven KFC restaurants with the intent to continue its growth in the coming years. For more information, contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital, an advisory firm focused primarily on the restaurant industry, closed the following transaction in a sell-side M&A advisory role: Dave Curnutt and related entities, franchisees for five decades, have sold nine Pizza Hut restaurants, including the underlying real estate, to multigeneration franchisees, Dave and Jason Staab. These are rural Red Roof restaurants located in Kansas and Missouri and were split between Dave and Jason’s companies. For more information, contact Rick Ormsby at 502-252-6422 or [email protected].

2016

16 December 2016 – Ormsby Launches New Firm: Unbridled Capital – Restaurant Monitor, Volume 27, Number 12

Unbridled Capital donates $5,000 to the Taco Bell Foundation at FRANMAC to help fund college tuition for team members

Unbridled Capital recently provided sell-side advisory to William F. Alford Co. on the sale of its 14 KFC restaurants in the Southwest Michigan area. Rich Alford and Ashley Courtland were third-generation franchisees, and the Alford family spent over 50 years successfully operating from Niles, Michigan. The restaurants were sold to KBP Foods.

“For over 50 years, the Alford family has been one of the most tenured and respected franchisees in the KFC system. We are honored that they entrusted Unbridled Capital to handle the sale of their life’s work. This transaction represents a growing trend: that KFC franchisees are now realizing the complexity of today’s M&A transactions and are increasingly in need of the unique and sophisticated guidance that Unbridled offers. We wish many blessings to Rich and Ashley and congratulate KBP Foods on the acquisition,” said Rick Ormsby, Managing Director.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the KFC Foundation. We want to give back to the employees that are so important to the success of the KFC brand. We want to be a blessing because we’ve been blessed.

With about $200,000,000 in recent KFC assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to Tennyson Enterprises (and related entities) on the sale of its 10 Pizza Huts in Iowa and Missouri.

The restaurants were sold to IMO Huts, Inc., led by Greg Shelton and Doug O’Connor. The Shelton family are Wichita-based franchisees with a rich history and legacy in the Pizza Hut system.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Yum Foundation. We want to give back to the employees that are so important to the success of these brands. We want to be a blessing because we’ve been blessed.

With dozens of recent assignments, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services.  For more information, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory services to Papa John’s International on the sale of its 30 locations in the Minneapolis area. The market was sold to existing franchisee Ricky Warman and related entity(s).

Unbridled Capital acted as refranchising agent for Papa John’s in this transaction. For more information on acquiring larger Papa John’s markets, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to RCGF, LLC on the sale of its 6 Taco Bell locations in South Texas. RCGF was led by Bob Kusenberger, and the restaurants were sold to Emerge! Properties, LLC, led by Kamal Singh.

“This transaction represents a growing trend of aggressive, millennial buyers who are looking to enter new brands and develop a strategy of consolidation and significant near-term growth. In this case, Kamal is a large existing KFC and Sonic franchisee, and this acquisition positions him to grow into a third brand in Taco Bell that has an impressive track record and growth trajectory,” reports Rick Ormsby, Managing Director at Unbridled Capital.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Taco Bell Foundation. Unbridled seeks to give back to the employees that are so important to the success of these brands. “We want to be a blessing because we’ve been blessed,” states Ormsby.

With approximately 20 current sell-side M&A engagements nationwide, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected]

Unbridled Capital recently provided sell-side advisory to Papa Murphy’s International on the sale of its 18 locations in the Denver and Colorado Springs areas.

Papa Murphy’s sold to Fresh Take LLC, led by Ryan McCallister, Tyler Ross and Brad Seymore. At closing, the trio now operates 28 total stores in Colorado.

Unbridled Capital acted as refranchising agent for Papa Murphy’s. For more information on the brand, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to WKRP Management LLC (and related entities) on the sale of its 39 Pizza Huts in Colorado, Kansas and Missouri. Terry Ruder, Steve Patton and Nestor Weigand were legacy franchisees with an outstanding business and long history of excellence in the Pizza Hut system.

WKRP sold to new franchisee, Grand Mere Capital, led by Mike Cherney. This is the second Pizza Hut acquisition for Grand Mere in the past 8 months. Unbridled sold 23 Pizza Huts to them last year. As of the close of this transaction, Grand Mere now owns 62 Pizza Huts.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Yum Foundation. We want to give back to the employees that are so important to the success of these brands. We want to be a blessing because we’ve been blessed.

With approximately 250 Pizza Huts for sale nationwide, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services.  For more information, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital recently provided sell-side advisory to The Matlock Restaurant Group on the sale of its 3 Taco Bell and KFC locations in Tennessee and Kentucky. Owners Johnny and Pam Matlock sold to Charter Foods LLC, led by Bob Jenkins.

As a condition of this closing, Unbridled Capital will make a charitable contribution to the Taco Bell Foundation. We want to give back to the employees that are so important to the success of these brands. We want to be a blessing because we’ve been blessed.

With approximately 20 current sell-side M&A engagements nationwide, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services. For more information, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected]

In our industry, sometimes it is easy to get focused on transactions, interest rates and EBITDA and forget the bigger and more important part of this business – the employees who are so critical to its success.

Over the years, we have all been touched to hear of so many stories of changed lives that started as an hourly worker in a restaurant. Here are a few themes: Broken families brought together. Achievement and advancement. Confidence and self-esteem. College graduations. Training that lasts a lifetime. Relationships and friendships in difficult times.

At Unbridled Capital, we want to show our appreciation for the hard-working employees who run these businesses. Going forward, Unbridled will make a charitable donation to a Restaurant Foundation for deals we close – and within each particular brand when possible.

“As a business owner, I know that the front-line employees make all the difference, yet they are often underrecognized and underappreciated in our narrow world of M&A and financing. At Unbridled, we want to be different. We want to financially contribute to the Foundations that support the employees within the brands we serve. Our goal is to raise thousands of dollars each year. We want to be a blessing because we have been blessed,” says Rick Ormsby, Managing Director.

For more information on Unbridled Capital, please feel free to visit www.unbridledcapital.com or each Rick Ormsby directly at 502-252-6422 and [email protected]

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, provided sell-side advisory to La Raza Pizza, Inc. on the sale of its 43 Pizza Huts in Indianapolis. The selling franchisee, Gene Camarena, is a legacy franchisee with a long history of excellence in the Pizza Hut system. Gene and his family sold the Indianapolis market to new and growing franchisee, Quality Huts, a portfolio company of GenRock Capital Management.

With approximately 500 restaurants for sale across numerous brands, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services.  For more information on Unbridled Capital, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, provided sell-side advisory to Wheeler Enterprises, Inc. on the sale of their 15 restaurants (12 KFCs and 3 KLs) in Ohio, West Virginia and Pennsylvania. Larry and Mrs. Wheeler, and their sons Chad, Brandon, and Brian, have been successful and respected KFC franchisees for many decades, dating back to when Larry opened their first restaurant in the 1970’s. The Wheelers divested their restaurants to KBP Foods, KFC’s largest franchisee with almost 600 restaurants.

With over 500 restaurants for sale across numerous brands, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services.  For more information on Unbridled Capital, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital Sponsors Taco Bell Foundation Cornhole Tournament at the Franchise Forum and Wins 1st Place

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, closed the following transaction in December: Cecil Eiserer and SEC Restaurants sold their 17 Pizza Hut restaurants, including the underlying real estate, to existing Pizza Hut franchisee Legacy Pizza. These restaurants are located throughout Alabama. Unbridled provided sell-side M&A advisory to SEC Restaurants. “The buyer in this transaction represents a progressive trend in the business, which is an influx of 30- to 40-year-old operators who are backed by investors and family offices. And we’re seeing this within the legacy brands,” said Rick Ormsby, managing director of Unbridled Capital. “Private equity is more an option for companies with $8 million to $10 million in EBITDA or more. For companies with $2 million to $5 million in EBITDA, private equity just isn’t interested, but it is a good play for a smaller family office. And, they don’t have the timeline that PE usually does, which is an exit anywhere from five to seven years.” Unbridled Capital decided to focus on family offices as a source of M&A and equity financing for their multiunit restaurant clients—those deals that represent 20 to 70 units. “While we will do larger deals and have established relationships with private equity, that segment is underserved,” said Ormsby. For more information on Unbridled Capital, Rick Ormsby, at 502-252-6422, or [email protected].

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, provided buy-side advisory to KC Bell in the Corporate divestiture of 6 Taco Bell restaurants in the the Southern Kentucky and Northern Tennessee areas.

With over 500 restaurants for sale across numerous brands, Unbridled Capital aims to provide the franchise community with unrivaled investment banking services.  For more information on Unbridled Capital, please contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, provided sell-side advisory to KC Bell on their sale of 39 Taco Bells in the Kansas City area in November. KC Bell, a franchise for more than 20 years, sold the restaurants to Royal Bell, Inc., an affliate of A&C Ventures. A&C Ventures, led by David Grieve, will operate 189 Taco Bell locations. KC Bell, Inc., led by Paul Hoover, remains a Taco Bell franchisee in several other markets nationwide. With almost 500 franchise restaurants currently for sale in large groups across several brands, Unbridled Capital expects a very active 2018. For more information on Unbridled Capital, contact Managing Director Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital, a franchise advisory firm focused primarily on the restaurant industry, closed the following transaction in October: Sell-Side M&A Advisory:Dave Curnutt and related entities, franchisees for five decades, have sold 23 of their Pizza Hut restaurants, including the underlying real estate, to new Pizza Hut franchisee Grand Mere Capital, led by Mike Cherney. These restaurants are located in the Kansas City area, as well as around Columbia, Mo. For more information on Unbridled Capital, contact Managing Director Rick Ormsby at 502-252-6422 or [email protected] unbridledcapital.com.

Unbridled Capital, an advisory firm focused primarily on the restaurant industry, closed the following transaction in a sell-side M&A advisory role: A franchisee for four decades, Bill Cutrer has sold his four KFCs to Overland Park, Kansas-based KBP Foods, including one underlying parcel of real estate. The four restaurants are located in the Topeka, Kan. area. Unbridled Capital provides investment banking services such as M&A advisory and capital raising for multi-unit restaurant businesses. For more information, contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital, an advisory firm focused primarily on the restaurant industry, closed the following transaction in a buy-side M&A advisory role: KFC newcomer, Lonnie Noble and Noble Pursuit, LLC, recently purchased six KFC restaurants from franchisee, Brent Ross, of Lenella and Tarapa Corporations. The underlying real estate was sold to BayHill Realty Capital. The restaurants are in Southern California and Arizona. At the close of the transaction, Noble Pursuits owns seven KFC restaurants with the intent to continue its growth in the coming years. For more information, contact Rick Ormsby at 502-252-6422 or [email protected].

Unbridled Capital, an advisory firm focused primarily on the restaurant industry, closed the following transaction in a sell-side M&A advisory role: Dave Curnutt and related entities, franchisees for five decades, have sold nine Pizza Hut restaurants, including the underlying real estate, to multigeneration franchisees, Dave and Jason Staab. These are rural Red Roof restaurants located in Kansas and Missouri and were split between Dave and Jason’s companies. For more information, contact Rick Ormsby at 502-252-6422 or [email protected].

16 December 2016 – Ormsby Launches New Firm: Unbridled Capital – Restaurant Monitor, Volume 27, Number 12