Reformation Partners is an early growth equity firm that invests in and accelerates the best businesses.

Reformation Partners

Apollo Global Management, Inc. is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions. The firm provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients. It also manages real estate funds and private equity funds for its clients. The firm invests in the fixed income and alternative investment markets across the globe. Its fixed income investments include income-oriented senior loans, bonds, collateralized loan obligations, structured credit, opportunistic credit, non-performing loans, distressed debt, mezzanine debt, and value oriented fixed income securities. The firm seeks to invest in chemicals, commodities, consumer and retail, oil and gas, metals, mining, agriculture, commodities, distribution and transportation, financial and business services, manufacturing and industrial, media distribution, cable, entertainment and leisure, telecom, technology, natural resources, energy, packaging and materials, and satellite and wireless industries. It seeks to invest in companies based in across Africa, North America with a focus on United States, and Europe. The firm also makes investments outside North America, primarily in Western Europe and Asia. It employs a combination of contrarian, value, and distressed strategies to make its investments. The firm seeks to make investments in the range of $10 million and $1500 million. The firm seeks to invest in companies with Enterprise value between $750 million to $2500 million. The firm conducts an in-house research to create its investment portfolio. It seeks to acquire minority and majority positions in its portfolio companies. Apollo Global Management, Inc. was founded in 1990 and is headquartered in New York, New York with additional offices in North America, Asia and Europe.

Leon Black

Marc Rowan

Josh Harris

Apollo Global Management, Inc.

Bain Capital is a leading private investment firm with approximately $180 billion in assets under management. Founded in 1984, the firm has pioneered a consulting-based approach to private equity investing, partnering closely with management teams to challenge conventional thinking, build great businesses, and improve operations. Bain Capital has expanded its approach across asset classes to build one of the strongest alternative asset platforms in the world, creating lasting impact for investors, teams, businesses, and communities.

Eric Kriss

Mitt Romney

Coleman Mark

Bain Capital

Blackstone Inc. is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia. The firm's corporate private equity business pursues transactions throughout the world across a variety of transaction types, including large buyouts,special situations, distressed mortgage loans, mid-cap buyouts, buy and build platforms, which involves multiple acquisitions behind a single management team and platform, and growth equity/development projects involving significant majority stakes in portfolio companies and minority investments in operating companies, shipping, real estate, corporate or consumer loans, and alternative energy greenfield development projects in energy and power, property, dislocated markets, shipping opportunities, financial institution breakups, re-insurance, and improving freight mobility, financial services, healthcare, life sciences, enterprise tech and consumer, as well as consumer technologies. The firm considers investment in Asia and Latin America. It has a three year investment period. Its hedge fund business manages a broad range of commingled and customized fund solutions and its credit business focuses on loans, and securities of non-investment grade companies spread across the capital structure including senior debt, subordinated debt, preferred stock and common equity. Blackstone Inc. was founded in 1985 and is headquartered in New York, New York with additional offices across Asia, Europe and North America.

Peter G. Peterson

Stephen Schwarzman

Blackstone Inc.

Reformation Partners | 1,122 followers on LinkedIn. Reformation Partners is an early growth equity firm that invests in the best capital efficient businesses. | Reformation Partners (www.reformation.vc) is an early growth equity firm. The firm invests in the best capital efficient enterprise and consumer companies at their point of breakout and supports their growth through profitability, future growth financing, and exit.

Managing Partner at Reformation Partners

Andrew Oved

Jim Hao

Early Growth Equity Investor at Reformation Partners

Jessica Valencia

Gabriel Hassan

In our latest interview for Reformers, the Founder & CEO of Create Music Group (#2 on the 2020 Inc. 5000 list) shares his thoughts on: - avoiding risk aversion - why passion trumps experience - what he thinks about the NFT craze - how a very nonlinear path led him to founding one of the fastest-growing businesses in the country Check out the full interview with Jonathan Strauss ! https://lnkd.in/dEPVe_qt

"We spoke with a variety of leaders in the construction industry, ranging from developers to subcontractors to GC site safety managers, and the message was clear: there is a real need for a worker-first solution like Corfix in the US market."

The South Florida tech and investor ecosystem continues to grow rapidly. Join us, our co-hosts, and the broader community for breakfast on 10/1:

Endear continues to solidify itself as the best-in-class CRM and Clienteling platform for the world's most forward-thinking retail brands including Gorjana, Glossier, Reformation, Rebag, Todd Snyder, and many more.

Titan Casket is bringing new life into deathcare and transforming an extremely important-yet-taboo topic into one that is more approachable (and affordable) for all. It's great to see collaborations with firms like Maximum Effort (Ryan Reynolds' and George Dewey's team behind Aviation Gin, Mint Mobile, and Wrexham AFC) are helping to drive the mass awareness that this brand and company deserve https://lnkd.in/dAT6Ud-e

On a recent episode of The All In Podcast, one of the hosts recently predicted that vertical software companies would be the worst-performing asset of 2024. The rationale was that AI has enabled companies to build, with no-to-low code, their own internal software solutions at a much lower cost than the price of purchasing comparable software from a 3rd-party. Reformation is firmly on the opposite end of this “short" and we explain our rationale in this post.

"What is Ideal Buyer Persona (IBP)? If ICP (Ideal Customer Profile) is focused on company-level characteristics, then IBP is focused on purchaser-level characteristics: it’s a grounded-in-reality representation of your ideal customer within your ICP based on market research, customer (and prospective customer) feedback, and sales funnel + product engagement data. The IBP is not only a “who”, but also a “why” and a “how”: who is buying your product within an organization, why are they buying your solution, and how are they using your product internally (or, in some cases, externally). Knowing and articulating each of these IBP elements, alongside defining your ICP, provides a much more granular understanding of your customer and will be of significant value to your business."

Metric
Company Name	Reformation Partners	Apollo Global Management, Inc.	Bain Capital	Blackstone Inc.
Symbol		APO		BX
MSH ID	VC:REFORMATION	COM:APOLLO	COM:BAINCAPITAL	COM:BLACKSTONE
Market	PRIVATE	STOCKS	PRIVATE	STOCKS
Sector	Financial Services & Finance	Financial Services	Financial Services & Finance	Financial Services
Industry	Venture Capital	Asset Management - Global	Financial Services & Finance	Asset Management
Country	US	US		US
Stage		Post-IPO Debt
Employee Count		4.95K	1.00K	4.74K
Website	reformation.vc	apollo.com	baincapital.com	blackstone.com
LinkedIn	reformation-partners	apollo-global-management-inc		blackstonegroup
Founders

Metric
Market Cap	67.83B		150.24B
Enterprise Value
Monthly Web Traffic	206.45K	119.78K
Web Traffic Growth	0.03	0.02
Valuation
Raised Capital	495M

Metric
Revenue		33.21B
Revenue (LTM)
Revenue (NTM)
Gross Profit		32.30B
EBITDA		9.12B
Operating Income		8.32B
Net Income		5.05B
EPS		8.32
Diluted EPS		8.21
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		0.98
Operating Profit Margin		0.56
EBITDA Margin		0.27
Net Profit Margin		0.25
Return on Equity		0.54
Return on Assets		0.02
Return on Capital Employed		0.18

REFO

VC:REFORMATION

Reformation 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		34.70
P/B Ratio		7.07
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio		3.10
EV Multiple		19.74

Metric
Days Sales Outstanding		10.18
Days Payables Outstanding		851.98
Days Inventory Outstanding
Operating Cycle		111.59
Cash Conversion Cycle		90.64
Asset Turnover		0.10

Metric
Operating Cash Flow		6.60B
Free Cash Flow		-17.80B
Cash Flow to Debt		0.69
Operating Cash Flow/Sales		0.20
Free Cash Flow Yield		0.10

Metric
Cash & Equivalents		17.69B
Accounts Receivable
Inventory
Goodwill		4.33B
Debt to Capitalization		0.42
Debt to Assets		0.02
Current Ratio		0.75
Quick Ratio		9.37

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue		0.03
R&D to Revenue
SG&A to Revenue		0.07