Naomi — Kainos Capital EBITDA Impact

Assumptions Trade spend = 15% of revenue Leakage rate = 8–12% of trade spend Recovery rate = 60–80% Exit multiple = 5×–7× EBITDA Revenue estimates from public sources¹

Portfolio trade spend & leakage by company

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Trade spend, % of revenue 15%

Leakage, % of trade spend 10%

Recovery rate 70%

Exit multiple 6.0×

Portfolio revenue

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Trade spend

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Leakage

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Recovered annually

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Enterprise value at exit

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Company	Category	Est. Revenue	Trade spend (15%)	Leakage (10%)	Recovery (70%)	EBITDA impact
good2grow	Kids beverages	$66M	—	—	—	—
Gehl Food & Beverage	Shelf-stable beverages	$137M	—	—	—	—
Kettle Cuisine	All-natural soups	$200M	—	—	—	—
Olde Thompson	Spices & seasonings	$75M	—	—	—	—
JTM Foods / JJ's Bakery	Snack pies & treats	$60M	—	—	—	—
Trilliant Food & Nutrition	Coffees & beverages	$80M	—	—	—	—
Colorado Premium	Premium proteins	$90M	—	—	—	—
CellCore Biosciences	Dietary supplements	$50M	—	—	—	—
Muenster	Freeze-dried pet food	$45M	—	—	—	—
SlimFast / Wellful	Weight mgmt / wellness	$150M	—	—	—	—

EBITDA impact scenarios — annual, portfolio-wide

Conservative

8% leakage · 60% recovery

$6.9M

recovered annually

At 5× exit multiple: +$34M enterprise value

Realistic

10% leakage · 70% recovery

$10.0M

recovered annually

At 6× exit multiple: +$60M enterprise value

Aggressive

12% leakage · 80% recovery

$13.7M

recovered annually

At 7× exit multiple: +$96M enterprise value

Why this goes directly to EBITDA

Trade promotion recovery is not new revenue — it is money that was already spent and already belongs to the portfolio company. It was simply lost through overclaims, unverified compliance, and accrual errors. Recovering it requires no new customers, no new products, and no incremental sales investment. It flows directly to the bottom line, making it one of the highest-ROI operational improvements a PE-backed company can make.

Kevin's pitch to Kainos

"At a realistic scenario, this platform recovers $10M annually across your portfolio — directly to EBITDA. At a 6× exit multiple, that's $60M in enterprise value you're leaving on the table every year you don't have an audit in place. The platform cost is a rounding error by comparison."

¹ Revenue estimates sourced from Datanyze, RocketReach, Growjo, and BevNET. These are estimates for private companies and should be treated as directional. Actual trade spend and leakage figures will vary. Platform fee not included in recovery calculations — ROI on platform cost is typically 10×–20× at these recovery rates.