Matt Perelman

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Matt Perelman, mentioned 20 times across podcast episodes and expert conversations analyzed by Sonic.

What Matt Perelman has said

Through a roll-up strategy, a customer concentration of 25% for a single business can be reduced to 2% for the consolidated enterprise.

bullish·Matt Perelman

In 2014, a typical Burger King unit had approximately $1.1 million in sales and an 11% store-level margin.

neutral·Matt Perelman

Garnett Station Partners aims to increase the organic growth rate of its portfolio companies by 200 to 300 basis points through technology implementation.

bullish·Matt Perelman

Through a roll-up strategy, a customer concentration of 25% for a single business can be reduced to 2% for the consolidated enterprise.

Expert perspectiveMatt PerelmanApr 27

In 2014, a typical Burger King unit had approximately $1.1 million in sales and an 11% store-level margin.

Expert perspectiveMatt PerelmanApr 27

Garnett Station Partners aims to increase the organic growth rate of its portfolio companies by 200 to 300 basis points through technology implementation.

Expert perspectiveMatt PerelmanApr 27

Royce Yudkoff, a professor at Harvard Business School and co-founder of Abri, was a key mentor who helped Garnett Station Partners institutionalize their firm.

Expert perspectiveMatt PerelmanApr 27

In Garnett Station Partners' deals, founders typically roll over 20% to 50% of their equity into the new entity.

Expert perspectiveMatt PerelmanApr 27

The youngest business Garnett Station Partners has ever invested in was 17 years old, and the oldest was 90 years old.

Expert perspectiveMatt PerelmanApr 27

Garnett Station Partners avoids categories like residential HVAC and pest control where bolt-on acquisitions trade at 8 to 11 times cash flow.

Expert perspectiveMatt PerelmanApr 27

Garnett Station Partners' largest investment, Authentic Restaurant Brands, started with a $20 million equity check four years ago and is now a multi-billion dollar company.

Expert perspectiveMatt PerelmanApr 27

Garnett Station Partners uses "super options" to provide additional incentives to management teams for outcomes that exceed a 3x or 4x return multiple.

Expert perspectiveMatt PerelmanApr 27

Garnett Station Partners prefers end markets where bolt-on acquisitions trade at 5 to 8 times cash flow, while the consolidated platforms trade at 12 to 15 times.

Expert perspectiveMatt PerelmanApr 27

In May 2019, Garnett Station Partners' 220-unit Burger King and Popeyes business was merged into a larger public company at a share price of $8.35.

Expert perspectiveMatt PerelmanApr 27

Garnett Station Partners' goal is to return $3 for every $1 invested, targeting a gross IRR of approximately 25%.

Expert perspectiveMatt PerelmanApr 27

A tire and auto services consolidation in Garnett Station Partners' portfolio has grown from under $5 million of EBITDA to $25 million of EBITDA in three years.

Expert perspectiveMatt PerelmanApr 27

Matt Perelman believes that leverage and lack of integration are the two primary factors that cause roll-up strategies to fail.

Expert perspectiveMatt PerelmanApr 27

CEO Deborah Derby increased the earnings of the public Burger King business from a trough of $60 million a year at year-end 2022 to $150 million a year and a half later.

Expert perspectiveMatt PerelmanApr 27

Garnett Station Partners estimates its total addressable market (TAM) to be approximately $1.2 trillion within the broader $10 trillion market of baby boomer-owned assets set to change hands.

Expert perspectiveMatt PerelmanApr 27

Garnett Station Partners' investment criteria for multi-unit businesses require at least 20% store-level margins, new units that pay back in three years or less, and the number one average unit volume...

Expert perspectiveMatt PerelmanApr 27

By implementing food cost software, Garnett Station Partners increased store-level margins in its Burger King business from 11% to between 15% and 16%.

Expert perspectiveMatt PerelmanApr 27

Eight months after its public market debut, the stock of Garnett Station Partners' Burger King business fell to 98 cents per share due to the COVID-19 pandemic and operational missteps.

Expert perspectiveMatt PerelmanApr 27

Due to inflation, the beef costs for Garnett Station Partners' Burger King business doubled from $2 a pound to $4 a pound, causing the stock to fall back to $1 per share.

Expert perspectiveMatt PerelmanApr 27

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