|Date||Status||Stake Acquired||Deal Types||Currencies Used|
|June 2005||Completed||100%||Acquisition, Leveraged Buyout (LBO)||Cash|
|Financials for Target: Apple American Group LLC||Transaction Multiples||Transaction Multiples w/ Max. Contingency|
|Total Assets||N/A||EV / A||EV / A|
|Stockholder's Equity||N/A||EV / SE||EV / SE|
|Revenues 2005||$316,500,000||EV / R||EV / R|
|Net Income (Loss)||N/A||EV / E||EV / E|
|Cash Flow||N/A||EV / CF||EV / CF|
|EBITDA||N/A||EV / EBITDA||EV / EBITDA|
|Operating Income (Loss)||N/A||EV / OI||EV / OI|
|Has Contingency Payment?||No|
|Has Termination Fee?||No|
|Business Description for Target: Apple American Group LLC|
Apple American Group LLC is a privately-held company based in Independence, Ohio. Founded in 1998 by Gregory G. Flynn (Greg Flynn), Apple American Group LLC is the largest franchisee of the Applebee's chain of restaurants that operates hundreds of Neighborhood Grill and Bar restaurants in Ohio, Indiana, New Jersey, Delaware, Minnesota, Wisconsin, Pennsylvania, West Virginia, Washington State, California, Nevada and other states. Apple American Group's Applebee's casual dining chain offers full-service menu of beef, chicken, and seafood entrees, along with a wide selection of appetizers. Apple American Group added 63 more Applebee's restaurants in 2010 when it purchased 63 restaurants corporate-owned by Applebee's directly from Applebee's parent company DineEquity (see PrivCo M&A Table for Apple American Group LLC for acquisition details.) Apple American Group LLC is controlled by Weston Presidio Service, a private equity firm based in Boston following a 2006 leveraged buyout (LBO).
|Business Description for Buyer: Weston Presidio Capital|
Weston Presidio Capital is a Boston, Massachusetts-based venture capital firm. Founded in 1991, Weston Presidio Capital considers seed, middle stage, late stage and mezzanine investments as well as buyouts, acquisitions, restructurings and special situations.
|Business Description for Seller: The Goldman Sachs Group|
The Goldman Sachs Group is an Investment Bank based in New York City, New York. The Goldman Sachs Group considers late stage and mid stage investments. The Goldman Sachs Group has invested in LinkedIn Corporation.