Garnett Station Partners
also referred to as: gsp
27 statements across 1 episodes · 11 bullish · 5 bearish · 2 people on the record · first statement Apr 27, 2026 by Matt Perelman · said 40 times in 1 episodes since 2026 · across every show →
Mentions by year
brought up most by Ted Seides (24), Alex Sloane (10), Matt Perelman (6)
tap a year for its mentions
Everything said about Garnett Station Partners, oldest first
Apr 27, 2026
Apr 27, 2026 negative
Apr 27, 2026 negative
Sloane: PE DPI Slump Creates Succession Logjams and Withholds Carry
“One of the effects of the DPI problem in the broader industry is not just on LPs. It's also on investors, right? And you think about VP, principal, MD, even partner level investors who've been at firms for a while and haven't seen their carry paid out. There a…”
Apr 27, 2026 negative
Perelman: Investment Discussions with Universal Consensus Are the Most Dangerous
“That's a huge part of our process is you can get into a room, everyone nods their heads and says, yes, this is a great idea. Are we going to make three times or five times? Who knows, but it's going to be great. Let's think again there because some of those so…”
Apr 27, 2026
Apr 27, 2026 positive
Apr 27, 2026
Apr 27, 2026 positive
Apr 27, 2026
Apr 27, 2026 bullish
Sloane: Roughly $10T in Assets Will Change Hands Over Two Decades
“What we realized while building value in the Burger King business was that there was a massive opportunity to invest in fragmented markets, high quality businesses behind this baby boomer generational transition, 10 trillion of assets or so set to change hands…”
Apr 27, 2026 positive
Perelman: Tech tools boost portfolio organic growth by 200-300 bps
“We have found that through partnerships with our operating partners and management teams and founders with tech implementation, whether it's estimating software or labor management tools or site selection, we're able to increase that organic growth rate typica…”
Apr 27, 2026 positive
Sloane: GSP Scaled Burger King Franchise to 1,100 Units and $1B+ Exit
“We first invested in a 23 unit Burger King franchisee business that was based in the Garnett Street train station in Henderson, North Carolina. They gave us this shot. We were successful with that business that allowed us to grow. We ultimately got to 1100 fra…”
Apr 27, 2026 negative
Apr 27, 2026 neutral
Apr 27, 2026 positive
Sloane: GSP Lost Zero Portfolio Companies and Avoided Rescue Capital During COVID
“Surviving what was a very challenging period for our portfolio, getting through it, and not losing a company, not needing a dollar of rescue capital, growing equity value across the portfolio, and then Exiting those businesses proved to ourselves and proved to…”
Apr 27, 2026 positive
Sloane: GSP Treats Every Deal as the Enemy to Prevent Deal Inertia
“Every deal is the enemy is hung a sign in our office just to remind us on the one yard line, never get comfortable, never let inertia take you through a deal, never let Quote, unquote, pattern recognition allow you to invest money. Make sure you're thinking ag…”
Apr 27, 2026 positive
Perelman: Debt markets are far friendlier to $15M-$20M EBITDA consolidations
“Size and scale, we have found that the credit markets are far deeper Cheaper, more flexible, less covenant-laden, and friendlier to consolidations that are, let's call it, 15 to twenty million of EBITDA in size and scope versus something that's five. What does…”
Apr 27, 2026
Perelman: Multi-unit investments must hit 20% store margins and 3-year payback
“If you take multi-unit businesses, of which restaurants would certainly be one of them, they qualify for investment from us. Business has to have at least 20% store level margins. Business has to have new units that pay back in three years or less and has to h…”
Apr 27, 2026 positive
Perelman: Deborah Derby grew portfolio earnings from $60M to $150M before exit
“Fortunately, we were able to bring in a new CEO, Deborah Derby, who's now the CEO of one of our businesses. She took earnings in that business from a trough of sixty million a year at year-end, twenty-twenty-two, to when we sold the business a year and a half …”
Apr 27, 2026 bullish
Perelman: Authentic Restaurant Brands Grew From $20M Equity to Multi-Billion Valuation
“If you look at our largest investment to date, it's a consolidation called Authentic Restaurant Brands that we started four years ago with a twenty million dollar equity check. Today, it's a several billion dollar company across a number of different brands wi…”
Apr 27, 2026 neutral
Apr 27, 2026 neutral
Perelman: GSP only rolls up sectors that were previously consolidated
“Alex touched on it earlier, we're only doing roll-ups in categories and asset classes and businesses that have been consolidated before. The benefit to that is there is off the shelf Tech solutions that have been created to manage these businesses in a multi-u…”
Apr 27, 2026 neutral
Apr 27, 2026 bullish
Apr 27, 2026 bearish
Perelman: GSP avoids roll-up categories with bolt-on multiples above 8x cash flow
“We are actively avoiding categories where the bolt-ons are trading outside of our price range. There are categories today that people are having success rolling up, whether they be Resi HVAC or pest control, or in a prior cycle, perhaps VET, where the platform…”
Apr 27, 2026 neutral
Perelman: GSP's Burger King Reverse Merger Plunged to $0.98 During COVID
“When we took the business public, it was May of 19, and we reverse merged our 220 unit Burger King and Popeyes business into a larger Burger King business and became the largest shareholders of that company. The day we did the deal, we merged in at 8:35 a shar…”