Business case
Our client, a private equity fund, sought to acquire a fast-food chain from a major player in the industry and engaged us to provide buy-side assistance.
During our engagement, we focused on challenging the historical and forecast development of revenue and EBITDA, assessing for each restaurant the impact of restaurant openings, renovations, conversion to home delivery and conversion to Halal.
We primarily focused on analysing carved-out accounts prepared by the seller as well as the impact of Management’s decisions on revenue, EBITDA and capex.