A Hospitality Holding Company Est. 2025 · Newport Beach

Keep the soul.
Refine the system. Building a national platform of franchisors, legacy regional restaurant brands, and modern lounges.

Altera Brands acquires and stewards franchisors and regional concepts with established followings and strong brands — pairing patient capital with operational infrastructure built for the long term.

Warm hospitality interior
The plan

Where we are. Where we're headed.

A national platform of franchisors, regional restaurant brands, and lounges — built deliberately, brand by brand, with patient capital and an operating discipline measured in decades.

Target · By 2030
Brands
10
Franchisors, restaurant concepts, and lounge brands 
Locations
100+
Across all brands
Team members
5,000
Across the front of house, the back of house, and the support roles in between.
Annual revenue
$500M
System-wide revenue across the platform — generated by brands operated as themselves.
Criteria · 01

What we look for.

We pursue two kinds of opportunity. The thresholds below are where a conversation begins.

i.

Franchisors

  • $2M–$10M
    EBITDA
  • 15%+
    Minimum unit growth, per year
  • 20%+
    Store-level EBITDA margins
Valuation We pay up to 10× EBITDA
ii.

Regional Restaurant Brands

  • 7+
    Units in operation
  • $20M+
    System sales
  • 30+ yrs
    Established brand heritage
  • <50%
    Alcohol as a share of sales
FOR SELLERS · 02

A patient buyer for your next chapter.

Whether you are ready to retire, moving on to your next stage, or simply cashing out on an investment — we offer a clean exit that respects what you built. We're operators ourselves, not traditional private equity. People matter to us, and we honor and champion the brands we acquire — carrying yours into its next chapter long after the sale closes. 

  • Up to 100% cash acquisitions at close
  • A clean, full exit — we take operations from day one
  • No rebranding, no menu engineering, no cuts on day one
  • Decisions made by people who have run restaurants and led large operations teams
  • Competitive purchase valuations and terms
Start a conversation →
Altera operations
For Investors · 03

Patient capital, operated like an owner.

We acquire strong brands with stable top-line sales, then apply the systems, tools, and accountability strategies proven in franchising to optimize consistent, bottom-line results — deal by deal, across established, beloved hospitality brands in growing American markets.

  • Target: ten brands and $500M in revenue by 2030
  • Projected private equity–like returns on stabilized assets
  • Quarterly investor reporting, reviewed or audited annually
  • Minimum investment of $500K from accredited investors
  • Open to funds, family offices, and individual investors
Request investor materials →
Dining room at dusk

“We don't acquire brands to flip them. We acquire brands to inherit them, improve them, and operate them for the long-term.”

SETH SHANER Founding Partner
Leadership · 04

Operators first.

We have run dozens of restaurants, performed complex turnarounds, and endured the worst of the pandemic. The work is the resume.

Seth Shaner

Seth Shaner

Co-Founder & CEO

Seth's career spans strategy, investing, and operations — from management consulting at Monitor Group to venture capital at vSpring and private equity at Sorenson Capital. As President of a 127-location, 4,000-employee Denny's franchise group, Seth ran operations at scale through the COVID cycle and recovery — the hands-on operating discipline that anchors how Altera builds value from day one.

Liam Quigley

Liam Quigley

Co-Founder

Liam began in investment banking at Bank of America before moving into private equity at Platinum Equity — the operationally focused Beverly Hills buyout firm known for complex carveouts and corporate divestitures. M&A advisory, capital markets, and direct investing across multiple industries — and a working appreciation for the operational levers that move returns after a deal closes. Originated Altera's founding acquisition as a proprietary carveout.

Contact · 05

Let's talk.

For Operators

Thinking about selling?

We're operators ourselves, not traditional private equity. Before anything else, we want to understand what you want out of a sale — and how to carry your brand into its next chapter with the care it deserves.

Email Seth to start the conversation seth@alterabrands.com →
For Investors

Interested in investing?

Open to accredited individuals, family offices, and institutions, with a minimum investment of $500K. Email Liam to request materials and discuss access.

Email Liam if interested liam@alterabrands.com →