Garnett Station Partners Recapitalizes Mambo Seafood, Providing Growth Capital for Further Texas Expansion

NEW YORK--(BUSINESS WIRE)--Garnett Station Partners, LLC (“Garnett Station”), a New York-based principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages approximately $1 billion of assets, today announced it has partnered with founder Michael Ho, CEO Robert McKinley and the management team to recapitalize and provide growth capital for Mambo Seafood (“Mambo” or the “Company”), the fast-growing Houston-based Hispanic restaurant brand. Financial terms of the deal were not disclosed.

Mambo Seafood was founded in 1996 by Michael Ho. Over the last two decades, Mambo has become an iconic local brand known for fresh, high-quality seafood, exemplary service and value by its loyal customer base. The Company operates 11 locations across the greater Houston area with growth plans throughout the Southwest.

“Mambo is an extraordinary brand with industry-leading Net Promoter Scores that drive best-in-class unit economics. The Company is growing both its on- and off-premise businesses at the fastest rate we’ve seen in the industry,” said Alex Sloane, Co-Founder and Managing Partner of Garnett Station. “We couldn’t be more excited to partner with CEO Robert McKinley and his team to further accelerate that growth.”

Founder Mike Ho added, "Garnett Station is an ideal partner for Mambo, given their many years of success within the restaurant industry. Alex, Matt and the entire GSP team have been highly collaborative and have executed on every commitment they made during this process. Mambo is in the right hands and I’m excited for this next chapter for the brand."

Mastodon Ventures, Inc. represented Mambo Seafood as sell-side Investment Banker, the Dallas office of Munsch Hardt Kopf & Harr acted as legal advisor to Mambo.

About Mambo Seafood

Mambo Seafood was founded by Mike Ho in 1996. Over the past 25 years, the company has grown to 10 company-owned locations and one franchised unit. Mambo's high-volume restaurants combine the best elements of traditional and innovative American, Latin, and Pacific seafood cuisines to create cuisine that is Mambonifico®.

About Garnett Station Partners

Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages approximately $1 billion of assets. Garnett Station partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments. Core sectors include food & beverage, health & wellness, automotive and business services. Garnett Station's culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability. For more information, please visit www.garnettstation.com.