Triton Pacific Buys Dick’s Last Resort

Triton Pacific Capital Partners has acquired a majority interest in Dick’s Last Resort, a branded restaurant chain headquartered in Nashville, Tennessee. No financial terms were disclosed.

PRESS RELEASE

Triton Pacific Capital Partners, LLC, a well established private equity firm headquartered in Los Angeles, announced today that it made a majority investment in Dick’s Last Resort (DLR Restaurants, LLC), a well established, branded restaurant business that will be headquartered in Nashville, TN. With six company-owned locations and one licensing agreement, Dick’s Last Resort spans several major markets from San Diego, California to Boston, Massachusetts. This dining and entertainment concept is anchored by comfort food and festive beverages as well as live music and irreverent service. The Dick’s Last Resort experience is delivered to a broad spectrum of patrons with plenty of attitude and a healthy dose of good humor.

This latest acquisition reinforces the investment strategy Triton Pacific has carried out since its inception in 2001 of identifying and guiding successful entrepreneurial businesses to their full potential. With a combination of capital, strategic guidance and operational expertise, Triton Pacific seeks to effectively partner with entrepreneurial companies in order to enhance and maximize company value.

“DLR Restaurants represents a unique opportunity to expand our business philosophy of investing in ‘below the radar’ companies,” stated Managing Partner, Craig Faggen. “Coupled with its strong brand identity, and a highly seasoned and financially motivated management team with a compelling and differentiated business proposition, DLR Restaurants is an excellent diversification play for our Basic Industries Group.”

While much of the restaurant industry continues to experience a downward spiral in sales and earnings, DLR Restaurants is in the unique and enviable position of having been able to outperform its peers through multiple economic cycles. Despite the soft economy and widespread downturn within the restaurant industry, Dick’s performance in 2008 has compared favorably to 2007. In addition, a softer economy and the inability of some restaurants to weather the storm should provide access to prime locations at attractive rates for Dick’s expansion plans.

Targeting companies within basic industries, including healthcare services, software/IT, business services, consumer products, financial services, light manufacturing, logistics, and value-added distribution, Triton Pacific has established a set of well-honed business insights used to identify strong portfolio companies.

“We have been very impressed with the management and the underlying business model of the company,” noted Faggen. “There is a counter cyclical growth opportunity in casual dining to expand into leases vacated by weaker brands, and Dick’s unique model is well positioned to take advantage of such situations.”

About DLR Restaurants, LLC

From its new headquarters in Nashville, Tennessee, Dick’s Last Resort manages six restaurants across the United States and has one licensed location in Las Vegas, Nevada. With its geographically diverse footprint including locations in Boston‘s historic Faneuil Hall district, San Antonio‘s Riverwalk, and San Diego‘s Gaslamp District, Dick’s Last Resort has become an established food and beverage dining experience known for creating a memorable dining and entertainment experience.

About Triton Pacific

Founded in 2001, Triton Pacific Capital Partners, LLC, with headquarters in Los Angeles, California, is an established private equity firm that acquires controlling interests in profitable entrepreneurial companies. Triton Pacific was recently named to the 2008 Inc. 5000 as one of the fastest growing private companies in the U.S. Ranked as the 54th fastest growing financial services firm in the country, Triton Pacific has more than tripled its holdings over the past five years. The company seeks to partner with management of established, profitable companies that have compelling, differentiated business propositions. Through its Value Enhancement Program(SM), Triton Pacific employs its time-tested business model in conjunction with a well-developed arsenal of proprietary in-house resources. The firm is able to offer its portfolio companies growth capital, strategic guidance and operational expertise designed to enable companies to their businesses with the ultimate goal of accelerating growth and maximizing value. Today, Triton Pacific maintains a controlling investment in 16 private equity companies with an enterprise value in excess of $200 million. More information can be found at www.tritonpacific.com.