Garnett Station Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Garnett Station Partners has acquired 2 companies. It has also invested in 2 others.

Garnett Station Partners’ most common sectors for investment arerestaurants (42%) and automotive (17%) . The Firm’s most common investment types include growth capital (59%) and recapitalization (17%). In total, Garnett Station Partners has invested in 11 US states. Its largest (disclosed) acquisition occurred in 2017 when it acquired Checkers Drive-In Restaurants for $525M.

The Firm’s most common exit type is trade sale (100%). Garnett Station Partners’ largest (disclosed) exit occurred in 2021 when it sold Twin Restaurant Franchise for $300M.

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M&A Summary

  • M&A Total Activity13
    • M&A Buy Activity12
    • M&A Sell Activity1
  • Total Sectors Invested 7
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 5
  • M&A Advisors 3

Garnett Station Partners

853 Broadway 16th Floor,
New York, New York 10003
United States
www.garnettstation.com
info@garnettstation.com

Garnett Station Partners provides growth capital and capital markets solutions to businesses led by experienced and entrepreneurial management teams. Areas of interest include food/beverage, health/wellness, automotive, and business services. Garnett Station Partners was formed in 2013 and is headquartered in New York City.


Investment Criteria

Sectors of Interest: Automotive, Beverages, Business Services, Consumer Services, Food, Healthcare Services, Restaurants, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (1.4/yr) # 5 3 2 2 - - 12
vol $525M $525M
Sell (0.2/yr) # - 1 - - - - 1
vol $300M $300M
  13

Most Recent M&A

Company Date Value Type
Firebirds International LLC 2023-03-27 - Recapitalization
Charlotte, North Carolina · www.firebirdsinternational.com
RVA Wash Holdings, Inc. 2023-01-11 - Recapitalization
Richmond, Virginia · www.flagstopcarwash.com
Woof Gang Bakery & Grooming 2022-06-16 - Growth Capital
Orlando, Florida · www.woofgangbakery.com
VIVE Collision 2022-01-20 - Growth Capital
New York, New York · www.vivecollision.com
Wow Carwash 2021-12-09 - Growth Capital
Las Vegas, Nevada · www.wowwash.com
Twin Restaurant Franchise, LLC 2021-09-01 300M USD Add-on Acquisition
Dallas, Texas · www.twinpeaksfranchise.com
Kneaders Bakery & Cafe 2021-05-07 - Growth Capital
American Fork, Utah · www.kneaders.com
Fat Tuesday 2021-04-01 - Buyout (LBO, MBO, MBI)
Mandeville, Louisiana · www.fattuesday.com
Afterburn Holdings LLC 2019-01-11 - Growth Capital
Houston, Texas
Kona Ice, Inc. 2019-01-01 - Growth Capital
Florence, Kentucky · www.kona-ice.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
RVA Wash Holdings, Inc. 2023-01-11 Hogwash Express Car Wash 2023-02-22 1
Richmond, Virginia · www.flagstopcarwash.com Richmond, Virginia · www.hogwashrva.com

M&A by Sector

Sector Current # Value All-time # Value
Restaurants 5 (42%) 525M (100%) 5 (42%) 525M (100%)
Automotive 2 (17%) - 2 (17%) -
Beverages 1 (8%) - 1 (8%) -
Business Services 1 (8%) - 1 (8%) -
Consumer Services 1 (8%) - 1 (8%) -
Food 1 (8%) - 1 (8%) -
Retail 1 (8%) - 1 (8%) -
Total 12 $525M 12 $525M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (100%) 525M (100%) 12 (100%) 525M (100%)
  Florida 2 (17%) 525M (100%) 2 (17%) 525M (100%)
  Virginia 1 (8%) - 1 (8%) -
  Utah 1 (8%) - 1 (8%) -
  Texas 1 (8%) - 1 (8%) -
  Pennsylvania 1 (8%) - 1 (8%) -
  North Carolina 1 (8%) - 1 (8%) -
  New York 1 (8%) - 1 (8%) -
  Nevada 1 (8%) - 1 (8%) -
  Louisiana 1 (8%) - 1 (8%) -
  Kentucky 1 (8%) - 1 (8%) -
  California 1 (8%) - 1 (8%) -
Total 12 $525M 12 $525M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 7 (58%) - 7 (58%) -
Buyout (LBO, MBO, MBI) 2 (17%) - 2 (17%) -
Recapitalization 2 (17%) - 2 (17%) -
Secondary Buyout 1 (8%) 525M (100%) 1 (8%) 525M (100%)
Total 12 $525M 12 $525M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 1 (100%) 300M (100%)
Total 1 $300M

Top M&A Advisors

Financial Deals
Cowen Group, Inc.
 1
Duff & Phelps Corp.
 1
Legal Deals
Kirkland & Ellis
 2

Deal Values

buy # Total
$100M to $1B 1 $525M
TOTAL $525M
Largest Checkers Drive-In Restaurants, Inc.
$525M (2017-03-23)
sell # Total
$100M to $1B 1 $300M
TOTAL $300M
Largest Twin Restaurant Franchise, LLC
$300M (2021-09-01)

M&A Connections

Deals
Acquired from
Investor(s)
17%
2 (17%)
Exited to
Strategic(s)
100%
1 (100%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Small

Established

2013

Specialist/Generalist

Generalist

Leadership

Alex Sloane

Managing Partner & Co-Founder

Matt Perelman

Managing Partner & Co-Founder

Jordan Garay

Managing Director

Richard Reuter

Managing Director

Yasir Bari

Managing Director

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