Grew EV 10x in 5 Years
Ben Rudman knew he wanted to work in food before he knew what investment banking was. His first independent sponsor deal, Western Smokehouse Partners, started with ~60 employees in 2018. By the time it sold 4.5 years later, it had almost 700 employees across 4 facilities and enterprise value had grown ~10x.
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Sequoya Borgman of Borgman Capital shares how retail fundraising, second-tier cities, and disciplined execution drove 10 platforms and 500+ LPs since 2017.
From Minority Stake to Double EBITDA in 2 Years
Neel Bhargava shares how a minority stake in a Crunch franchise grew from 10 to 74 gyms, driven by thematic focus, recapitalizations, and strong management.