Garnett Station Partners is an investment firm that partners with founder-owned companies to accelerate growth through reinvesting in their core business, leading technology adoption, and instituting a capital allocation tool-kit tailored to each opportunity. The firm focuses on multi-unit, franchised, American core economy businesses across sectors such as food and beverage, health and wellness, and automotive.

Garnett Station Partners

The Carlyle Group Inc. is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES. The firm invests across four segments which include Corporate Private Equity, Real Assets, Global Market Strategies, and Solutions. The firm typically invests in industrial, agribusiness, ecological sector, fintech, airports, parking, Plastics, Rubber, diversified natural resources, minerals, farming, aerospace, defense, automotive, consumer, retail, industrial, infrastructure, energy, power, healthcare, software, software enabled services, semiconductors, communications infrastructure, financial technology, utilities, gaming, systems and related supply chain, electronic systems, systems, oil and gas, processing facilities, power generation assets, technology, systems, real estate, financial services, transportation, business services, telecommunications, media, and logistics sectors. Within the industrial sector, the firm invests in manufacturing, building products, packaging, chemicals, metals and mining, forestry and paper products, and industrial consumables and services. In consumer and retail sectors, it invests in food and beverage, retail, restaurants, consumer products, domestic consumption, consumer services, personal care products, direct marketing, and education. Within aerospace, defense, business services, and government services sectors, it seeks to invest in defense electronics, manufacturing and services, government contracting and services, information technology, distribution companies. In telecommunication and media sectors, it invests in cable TV, directories, publishing, entertainment and content delivery services, wireless infrastructure/services, fixed line networks, satellite services, broadband and Internet, and infrastructure. Within real estate, the firm invests in office, hotel, industrial, retail, for sale residential, student housing, hospitality, multifamily residential, homebuilding and building products, and senior living sectors. The firm seeks to make investments in growing business including those with overleveraged balance sheets. The firm seeks to hold its investments for four to six years. In the healthcare sector, it invests in healthcare services, outsourcing services, companies running clinical trials for pharmaceutical companies, managed care, pharmaceuticals, pharmaceutical related services, healthcare IT, medical, products, and devices. It seeks to invest in companies based in Sub-Saharan focusing on Ghana, Kenya, Mozambique, Botswana, Nigeria, Uganda, West Africa, North Africa and South Africa focusing on Tanzania and Zambia; Asia focusing on Pakistan, India, South East Asia, Indonesia, Philippines, Vietnam, Korea, and Japan; Australia; New Zealand; Europe focusing on France, Italy, Denmark, United Kingdom, Germany, Austria, Belgium, Finland, Iceland, Ireland, Netherlands, Norway, Portugal, Spain, Benelux , Sweden, Switzerland, Hungary, Poland, and Russia; Middle East focusing on Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Turkey, and UAE; North America focusing on United States which further invest in Southeastern United States, Texas, Boston, San Francisco Bay Area and Pacific Northwest; Asia Pacific; Soviet Union, Central-Eastern Europe, and Israel; Nordic region; and South America focusing on Mexico, Argentina, Brazil, Chile, and Peru. The firm seeks to invest in food, financial, and healthcare industries in Western China. In the real estate sector, the firm seeks to invest in various locations across Europe focusing on France and Central Europe, United States, Asia focusing on China, and Latin America. It typically invests between $1 million and $50 million for venture investments and between $50 million and $2 billion for buyouts in companies with enterprise value of between $31.57 million and $1000 million and sales value of $10 million and $500 million. It seeks to invest in companies with market capitalization greater than $50 million and EBITDA between $5 million to $25 million. It prefers to take a majority or a minority stake. It typically holds its investments for three to five years. Within automotive and transportation sectors, the firm seeks to hold its investments in for four to six years. While investing in Japan, it does not invest in companies with more than 1,000 employees and prefers companies' worth between $100 million and $150 million. The firm originates, structures, and acts as lead equity investor in the transactions. The Carlyle Group Inc. was founded in 1987 and is based in Washington, District of Columbia with additional offices in 21 countries across 5 continents (North America, South America, Asia, Australia and Europe).

William E. Conway

The Carlyle Group Inc.

CVC is a global investment firm with seven complementary strategies across private equity, secondaries, and credit. The company manages over €169 billion in assets and operates through a network of 29 offices worldwide. CVC focuses on building better businesses by partnering with management teams to drive operational efficiency and reinvest for growth, all while embedding environmental, social, and governance (ESG) principles in its investing and corporate DNA.

Jiri Zrust

Steve Koltes

Donald Mackenzie

Rolly van Rappard

EQT Ventures is a multi-stage venture capital firm that invests in companies with transformational potential. The firm leverages a unique blend of expert guidance, a global network, and proprietary technology to support its portfolio companies in scaling and achieving market leadership.

EQT Ventures

Garnett Station Partners | 4,066 followers on LinkedIn. Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane. GSP partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments.

Operating Partner - Youth Enrichment / Board Member

Justin Nihiser

Partner, Garnett Station Partners

Dan Lee

Chief Operating Officer, Garnett Station Partners

William Gadsden

Operating Executive at Garnett Station Partners

Matt Williamson, CFA

Thank you Patrick O'Shaughnessy, CFA for the interview with our Co-founders and Managing Partners Matthew Perelman and Alex Sloane . It was an honor to be part of the “Invest Like The Best” podcast and share a bit of our history, philosophy and (not so) secret sauce. Check out “The Art of Franchise Investing” episode here: https://lnkd.in/e5_VgjGe #franchising #investing #privateequity #middlemarket

Garnett Station Partners is excited to announce that Christopher Kozina has been elevated to Head of our Value Creation Team ("VCT"). With decades of leadership experience, Chris will play a crucial role in further developing the VCT and enhancing operational performance across our portfolio. We’ve worked with Chris for many years and thrilled to formalize our partnership. Welcome Chris! https://lnkd.in/gHceDT9T

We are thrilled to welcome Dan Lee as a Partner at Garnett Station Partners. With over 20 years of experience, including 13 years at Comvest where he co-headed Consumer & Retail, Dan has excelled in sourcing, structuring, and managing investments in founder-owned businesses. His expertise and strong network align perfectly with GSP’s mission, and we’re excited to see the impact he will make as we continue to grow. Welcome, Dan! https://lnkd.in/edj-aQqN

We are pleased to announce the promotion of Joe S. to Managing Director at Garnett Station Partners. Since joining our firm in 2022, Joe has been instrumental in GSP's continued investment in its sourcing capabilities and thesis development efforts. We are excited about his ongoing dedication and the positive impact he will continue to have on GSP and our partner companies. https://lnkd.in/g6Wdci85

We are thrilled to announce the promotion of Jordan Garay to Partner at Garnett Station Partners. Since joining our firm in 2016, Jordan has demonstrated exceptional leadership, dedication, and strategic acumen, significantly contributing to our growth and success. We look forward to his continued impact at GSP and our partner companies. https://lnkd.in/emd69hn7

Proud to announce the formation of our newest platform, Accident Care Alliance! https://lnkd.in/e_jNyNM2

Another exciting acquisition by our team at Flagstop Car Wash ! https://lnkd.in/gsg4ZgMi

Excited to have Heath Pomerantz join the WOW Carwash team! https://lnkd.in/e5HjiGr8

2023 was a big year for Garnett Station thanks to our investors, partners, founders and advisors. At GSP, we’re just getting started

Thrilled to welcome Justin Nihiser to the Garnett Station team as an Operating Partner! https://lnkd.in/eftxijrF #privateequity #earlychildhoodeducation #middlemarket #youthenrichment

Metric
Company Name	Garnett Station Partners	The Carlyle Group Inc.	CVC	EQT Ventures
Symbol		CG
MSH ID	COM:GARNETTSTATION	COM:CARLYLE	COM:CVC	COM:EQTVENTURES
Market	PRIVATE	STOCKS	PRIVATE	PRIVATE
Sector	Commercial & Professional Services	Financial Services	Financial Services & Finance	Financial Services & Finance
Industry	Investment Management	Asset Management	Investment Management	Venture Capital & Private Equity
Country	US	US	LU	SE
Stage
Employee Count		2.20K	1.09K	61
Website	garnettstation.com	carlyle.com	cvc.com	eqtventures.com
LinkedIn	garnett-station-partners	the-carlyle-group	cvc-capital-partners	eqt-ventures
Founders

Metric
Market Cap	14.94B	15.68B
Enterprise Value
Monthly Web Traffic			4.78K
Web Traffic Growth			0.18
Valuation
Raised Capital

Metric
Revenue		2.64B
Revenue (LTM)
Revenue (NTM)
Gross Profit		939.70M
EBITDA		-282.70M
Operating Income		-463.30M
Net Income		-608.40M
EPS		-1.68
Diluted EPS		-1.68
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin		0.31
Operating Profit Margin		-0.11
EBITDA Margin		-0.11
Net Profit Margin		-0.12
Return on Equity		-0.07
Return on Assets		-0.02
Return on Capital Employed		-0.02

GARN

COM:GARNETTSTATION

Garnett Station Partners

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio		69.01
P/B Ratio		2.46
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio		6.82
EV Multiple		-7.72

Metric
Days Sales Outstanding		116.43
Days Payables Outstanding		14.39
Days Inventory Outstanding
Operating Cycle		898.51
Cash Conversion Cycle		898.51
Asset Turnover		0.15

Metric
Operating Cash Flow		941.60M
Free Cash Flow		875.00M
Cash Flow to Debt		0.15
Operating Cash Flow/Sales		0.45
Free Cash Flow Yield		-0.02

Metric
Cash & Equivalents		1.79B
Accounts Receivable		-63.50M
Inventory
Goodwill		104M
Debt to Capitalization		0.67
Debt to Assets		0.44
Current Ratio		4.73
Quick Ratio		19.15

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue		0.03
R&D to Revenue
SG&A to Revenue		0.26