Ari Levy
speaker
238 appearances
1 recordings
1 series
first heard Feb 2026
last heard 12 Feb
Ari Levy’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Feb 2026 with 1.
Appearances
But if you're five or 10 year, 15 year IRR as a public company is really subpar, you have more vulnerability.
There's an annual meeting and an election in those companies.
Ultimately, shareholders have certain rights.
You got to look at the bylaws of the companies.
We haven't
We've typically settled with companies and gotten board members that way.
And when you have board members, you have more influence.
When I was on the board at Del Taco, because we were trading a big discount to private market value, we got a number of different inbound bids, typically from private equity, some from large known quantities and some from funds that we never heard of that you kind of get to see how well funded are they, are they for real?
Well,
First, there's that arb of just if you take away public company costs, and also you're not focused on the next quarter, which public companies are too focused on versus the next five years or whatever.
I saw it firsthand.
Their LBO math suggested that they were going to be able to pay a big premium to public market value, take it private, and still make a good IRR.
That's them levering up typically and taking a lot of risk.
In the case of Del Taco, we sold it to Jack in the Box.
The best buyer typically is a strategic because they're synergies versus private equity.
Jack in the Box is its own public company.
We sold to them in 2022.
I believe the enterprise value on the deal was $600 or $700 billion.
They just sold it for the low $100s.
There's been a whole bunch of things negatively affecting the restaurant industry, fast food, GLP-1s, and things I could go on and on about.
Showing 141–160 of 238 · page 8 of 12
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