Garnett Station Partners: Buy Box & Recent Acquisitions

At a glance

Latest fund	GSP Fund 5.0, $1.2B (Mar 2025) S4
EBITDA range	$3M to $50M S2
Check size	$25M to $200M S2
Deal types	Platform, Add-on, Minority, Growth S2
Geography	North America S2
Sectors	Consumer & Food, Auto Services & Collision, Roofing, HVAC, Plumbing & Electrical, Environmental & Waste, Healthcare Services

What Garnett Station Partners buys

Garnett Station Partners is a New York firm whose founders started out in 2013 running a group of Burger King restaurants before building the investment firm. It invests in multi-unit, franchised and services businesses across six areas: food and beverage, auto services such as car washes and fleet repair, consumer services, commercial services, health and wellness, and pet services. Its criteria call for $3 million to $50 million of EBITDA and equity checks of $25 million to $200 million, and it will do majority deals, minority deals, structured equity and capital markets solutions. It says it wants to be the first institutional money in the companies it backs.

The firm closed GSP Fund 5.0 at $1.2 billion in March 2025. Since then it has launched new buy-and-build platforms in commercial roofing, commercial mechanical, electrical and plumbing work, and commercial fleet maintenance, each built by partnering with founder-owned operators. A smaller company is most likely to meet Garnett as one of the businesses joining those platforms.

Recent deals

Announced in the 24 months before October 19, 2026.

Date	Company	Type	Sector	Source
Nov 2025	True North Fleet ServicesNew commercial fleet maintenance and repair platform based in Glen Mills, Pennsylvania	Platform	Auto Services & Collision	Source
Jun 2025	Skybound Service PartnersNew commercial roofing platform based in Carmel, Indiana	Platform	Roofing	Source
May 2025	Grizzly MEPNew commercial mechanical, electrical and plumbing services platform based in Sandy Springs, Georgia	Platform	HVAC, Plumbing & Electrical	Source
May 2025	Moving MountainsVacation rental brand added to StayTerra	Add-on		Source
Mar 2025	GSP Fund 5.0Fifth fund closed with $1.2 billion of commitments	Fund close		Source
Mar 2025	Tavern in the SquareNew England restaurant and bar chain added to Authentic Restaurant Brands	Add-on	Consumer & Food	Source
2025	Honey Baked HamSpecialty food franchisor with more than 500 locations, held in GSP 5.0	Platform	Consumer & Food	Source
2025	Sarku JapanJapanese quick-service restaurant brand with more than 200 locations, held in GSP 5.0	Platform	Consumer & Food	Source
Nov 2024	Bristol EnvironmentalGrowth investment in a Bristol, Pennsylvania indoor remediation company, now part of the Redwood Environmental platform	Growth	Environmental & Waste	Source

Portfolio by sector

From the firm's portfolio page S3.

Commercial Services

Grizzly MEP
Redwood Environmental
Skybound Service Partners
True North Fleet Services

Consumer Services

Accident Care Alliance
Authentic Restaurant Brands
Checkers
Fat Tuesday
Firebirds Wood Fired Grill
FirstRidge Service Partners
Flagstop Carwash
Honey Baked Ham
Kona Ice
Mambo Seafood
Mountainside Fitness
Out West Restaurant Group
P.J. Whelihan's
Pet Supplies Plus
Pollo Tropical
Primanti Bros.
Sarku Japan
StayTerra
Tavern in the Square
Woof Gang Bakery & Grooming
WOW Carwash

Greymont’s take

How Garnett Station Partners fits a seller

Garnett fits founders of multi-location consumer brands, and owners of roofing, commercial MEP, environmental remediation or fleet repair businesses, who want a buyer with hands-on operating experience. Its newer platforms (Skybound, Grizzly MEP and True North) present themselves as partnerships that keep each company's culture and legacy, which usually means the founder stays on and rolls some equity into the larger group. Rollover equity is a central part of the firm's pitch on its philosophy page.

Because Garnett also makes credit investments, an owner should confirm whether an offer is for control, a minority stake or a loan. Owners joining a platform should also ask how many companies it plans to add and how rolled equity is treated when the platform is sold; Garnett exited VIVE Collision through a Greenbriar recapitalization in November 2023.

Questions owners ask

What size companies does Garnett Station Partners invest in?

Its published criteria cover companies with $3 million to $50 million of EBITDA, with equity investments of $25 million to $200 million. Smaller operators can join one of its buy-and-build platforms, such as Skybound Service Partners or Grizzly MEP, as partner companies.

Does Garnett Station invest in auto services businesses?

Yes. Auto services is one of its six focus sectors. It currently owns Flagstop Carwash and WOW Carwash, and in November 2025 it launched True North Fleet Services, a commercial fleet maintenance and repair platform. It previously owned VIVE Collision and Goodturn Tire and Auto.

Will Garnett Station take a minority stake?

Yes. Its criteria list majority investments, minority investments, structured equity and capital markets solutions. It also makes credit investments: Checkers, Out West Restaurant Group and Pet Supplies Plus are listed on its site as credit holdings.

Sources

S1Garnett Station Partners home page Accessed October 19, 2026
S2Garnett Station Partners: Investment Criteria Accessed October 19, 2026
S3Garnett Station Partners: Partnerships (portfolio, with fund, status, sector and type filters) Accessed October 19, 2026
S4Garnett Station Partners: Press Accessed October 19, 2026
S5Garnett Station Partners: Contact Accessed October 19, 2026
S6Garnett Station Partners: Our Story Accessed October 19, 2026
S7Garnett Station Partners: Philosophy Accessed October 19, 2026
S8Redwood Environmental home page (Garnett portfolio company) Accessed October 19, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Garnett Station Partners. Figures are as reported on the dates shown and may have changed. Request a correction