Triton North LLC ("the Sponsor") is offering up to $2,760,000 in limited partnership equity interests (the "Interests") in connection with the acquisition of a full-service irrigation company ("the Company") located in Lake Worth, Palm Beach County, Florida. The offering is being made pursuant to an exemption from registration under Rule 506(b) of Regulation D promulgated under the Securities Act of 1933, as amended.

The total project cost is $5,400,000, consisting of $2,200,000 in senior debt (7% interest rate, two-year interest-only period, 50% loan-to-value), $2,760,000 in LP equity (this offering), and $440,000 in seller equity rollover representing 10% of the purchase price.

Investors will receive an 8% per annum preferred return on unreturned capital contributions, accruing from the date of investment and payable before any distributions to the Sponsor. Following payment of the preferred return, remaining distributions will follow the waterfall structure set forth in the Operating Agreement.

The Company is a full-service irrigation business with over 30 years of operating history in South Florida. The Company serves residential and commercial customers throughout Palm Beach County, providing a comprehensive range of services including custom irrigation system design and installation, sprinkler system repairs and maintenance, landscape lighting, pump services and shallow well solutions, and certified backflow prevention testing.

The Company employs more than 20 field-service professionals and has established deep relationships with residential homeowners, commercial property managers, HOA management companies, and general contractors throughout the region. The Company's revenue base is characterized by a high proportion of recurring service work, providing predictable and stable cash flows.

For the fiscal year ended December 31, 2025, the Company generated revenues of approximately $3.4 million and adjusted EBITDA of approximately $1.1M, reflecting a margin of approximately 30%. Revenue has grown at a compound annual rate of approximately 12.8% over the four years preceding the acquisition, reflecting a combination of organic growth and expanded service offerings.

Business Acquisition: $4,400,000 of the total project cost will be allocated to the purchase of the Company, representing a purchase price multiple of approximately 4.0x trailing twelve-month EBITDA.

Working Capital and Reserves: $435,200 will be reserved for working capital and operational contingencies during the transition period immediately following acquisition.

Acquisition Fee: $350,000 will be paid to the Sponsor as an acquisition and structuring fee in connection with sourcing, underwriting, and closing the transaction.

Closing Costs: $132,000 is estimated for legal, accounting, due diligence, and other transaction-related expenses.

Triton North's leadership team combines extensive institutional experience across real estate development, private equity, asset management, and capital structuring.

Antonio Ortiz — Partner, COO. Oversees operations, capital markets, and deal execution across all Triton North divisions.

Luis C. Quintero — Partner. Leads private equity deal sourcing, underwriting, and portfolio company management.

Ricardo Ciliberto — Partner. Manages strategic LP relationships, partner introductions, and deal origination.

Alberto Cantor — Partner. Green industry operating partner leading post-acquisition management and operational integration for the Florida Irrigation Platform.

The Triton North team has collectively managed portfolios with an aggregate value exceeding $750 million, directed over $100 million in ground-up development projects, and currently oversees assets in excess of $300 million across real estate, private equity, and lending.

Operating Business Risk. The Company operates in the service industry and is subject to competition, employee retention risk, customer concentration risk, equipment failure, and general business risks inherent to owner-operated service businesses.

Transition Risk. The founding owners' retirement and transition from day-to-day operations may disrupt customer relationships, employee morale, and vendor terms. The Sponsor has structured the transaction to include a seller equity rollover of 10% of the purchase price, ensuring the sellers remain aligned as equity partners post-closing. In addition, a formal post-close advisory commitment has been structured with the founding owners to support continuity of customer relationships and operational knowledge transfer.

Interest Rate and Financing Risk. The acquisition is partially financed with senior debt at a fixed rate. At refinancing, market conditions may result in higher borrowing costs.

Market and Economic Risk. While irrigation services have historically demonstrated resilience across economic cycles, an extended economic contraction could reduce new installation revenue and lead some customers to defer non-critical maintenance.

Liquidity Risk. Interests in this offering are illiquid. There is no established trading market for the Interests, and investors should expect to hold their investment for the full projected hold period of approximately five years.

Projection Uncertainty. All projected returns are based on assumptions that may not be realized. Actual results may differ materially from projections.

The following projections are based on Triton North's internal underwriting model and reflect management's current estimates. These projections are forward-looking statements subject to risks and uncertainties. Actual results may differ materially.

Revenue: Year 1 $3,581,348 / Year 2 $3,939,483 / Year 3 $4,333,432 / Year 4 $4,766,775 / Year 5 $5,243,452

Adjusted EBITDA: Year 1 $800,020 / Year 2 $970,676 / Year 3 $1,161,118 / Year 4 $1,373,406 / Year 5 $1,609,808

Projected LP IRR: 21.8% over 5-year hold period. LP Equity Multiple: 2.32x. LP Equity: $2,760,000. Total Project Cost: $5,400,000. Preferred Return: 8% per annum on unreturned capital. Average Annual LP Cash on Cash: approximately 16.3%.

Detailed financial model available upon request to qualified investors.

The investment will be structured through a limited liability company (the "LLC") organized under the laws of the State of Florida. Investors will receive membership interests in the LLC, which will hold the operating business either directly or through one or more subsidiary entities.

The LLC will be managed by Triton North or its designated affiliate as the managing member. Limited members will not participate in day-to-day management decisions. Investors' rights to distributions, information, and capital account treatment will be governed by the Operating Agreement.

The minimum investment amount will be confirmed prior to the final offering. Subscriptions will be accepted at the discretion of the Sponsor. Interests are being offered pursuant to Rule 506(b) of Regulation D to accredited investors and up to 35 sophisticated non-accredited investors.

Information Rights. Investors will receive quarterly financial reports and an annual audited financial statement within 90 days of fiscal year-end.

Voting Rights. Investors will have limited voting rights as set forth in the Operating Agreement. Major decisions including sale of all or substantially all assets, dissolution of the LLC, and amendment of the Operating Agreement will require approval of a specified majority of members.

Transfer Restrictions. Interests are subject to transfer restrictions as set forth in the Operating Agreement. Any transfer is subject to Sponsor consent and compliance with applicable securities laws.

Exit Rights. Upon a liquidity event (sale, merger, or recapitalization), investors will receive distributions in accordance with the waterfall provisions of the Operating Agreement, after repayment of all debt obligations and senior fees.

The LLC is intended to be treated as a partnership for U.S. federal income tax purposes. Investors will generally be allocated their pro-rata share of taxable income, loss, and credits from the LLC, which will be reported on Schedule K-1.

Investors may be subject to passive activity loss limitations, unrelated business taxable income rules (for tax-exempt investors), and state and local tax obligations in Florida and potentially other jurisdictions. Investors are strongly encouraged to consult their own tax advisors regarding the tax consequences of an investment in the LLC.

This summary is not intended to constitute tax advice. The LLC has not obtained a tax opinion regarding the characterization of this investment.

This Private Placement Memorandum Summary is provided for informational purposes only and does not constitute, and should not be construed as, an offer to sell, or a solicitation of an offer to buy, any security. Any such offer will be made only by means of a formal private placement memorandum and operating agreement, which investors should read carefully before investing.

This document contains forward-looking statements and financial projections that are based on assumptions and estimates. These statements are not guarantees of future performance and are subject to significant risks and uncertainties. Actual results may differ materially from projections.

None of the information contained herein has been filed with the U.S. Securities and Exchange Commission, any securities administrator under any state securities laws, or any other governmental authority. No governmental authority has passed on the merits of any offering or the adequacy of the information contained herein. Any representation to the contrary is unlawful.

These materials are being provided on a confidential basis solely to accredited investors as defined under Rule 501(a) of Regulation D. These materials may not be copied, reproduced, republished, or distributed without the prior written consent of Triton North LLC.

TRITON NORTH LLC | All rights reserved 2026