Using an existing business to fund the turnaround
Savneet explains why PAR kept its government business while rebuilding software products, then redeployed the sale proceeds into an acquisition.
Summary ·Watch at 06:48
Founder conversationUnicorn $50m+
$200M Turnaround: Savneet Singh of PAR Technologies
Savneet Singh · PAR Technology Corp.
Published September 6, 2024About this resource
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What you’ll learn
Savneet explains why PAR kept its government business while rebuilding software products, then redeployed the sale proceeds into an acquisition. Savneet discusses the economics of large enterprise contracts and the challenge of selling to different buyer personas through the same team.
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Selling multiple products through one sales organization
Savneet discusses the economics of large enterprise contracts and the challenge of selling to different buyer personas through the same team.
Summary ·Watch at 10:20
Giving product leaders ownership of their P&L
Savneet describes PAR’s decentralized structure, where general managers own business results and decisions for their product lines.
Summary ·Watch at 12:14
Looking at recurring revenue per share
Savneet explains why he tracks recurring revenue relative to share count when assessing how growth and fundraising affect shareholder value.
Summary ·Watch at 17:07
Turnaround agenda
“Over the next 20 minutes… You’ll learn OPERATIONS $200m Turnaround story Vision/People Training next layer of management PRODUCT Where to expand 1st, 2nd, 3rd Product Buckets Ecosystem Map Open Commerce M&A STRATEGY Deal 1: Buying $40m ARR Deal 2: 12x EBITDA Next Deal”
Hardware-to-SaaS shift
“NYSE: PAR Revenue Growth Hardware to SaaS Product mix 2024”
TASK acquisition
“NYSE: PAR Revenue Growth Paid $206m for TASK ($40m ARR, $6m EBITDA) How did you get to the 5x ARR multiple, 34x EBITDA multiple? 2024”
Stuzo acquisition
“NYSE: PAR Revenue Growth Paid $170m Cash for Stuzo ($40m ARR, $14m EBITDA) How did negotiate the 12x EBITDA multiple (4.5x ARR) 2024”
Build, partner, or buy
“NYSE: PAR Revenue Growth Which boxes do you Build, Partner, Buy? Would you acquire in “Marketing Automation” bucket? 2024”
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$200M Turnaround: Savneet Singh of PAR Technologies - Slide Deck
Savneet Singh is an award-winning software / SaaS CEO with deep expertise across the retail, fintech and payments industries. Savneet is currently CEO of PAR Technology Corporation (NYSE:PAR), a provider of point of sale software to the retail industry. Under his tenure, the Company has transformed from a distressed provider of hardware to a fast-growing SaaS business. This work has included two significant capital raises, two large acquisitions and a dramatic change in workplace culture. Prior to PAR, Savneet has extensive experience as both an investor and Board Member, having served on a number of both public and private Boards, including a listed SPAC.
- Company revenue
- $123M
- Team size
- 1541
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Slide text
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18 passages
PAR turnaround context
SaaSOpen, September 2024 $200M Turnaround Story: 39 Year Old CEO Transforms NYSE: PAR into $400m SaaS Savneet Singh CEO of NYSE: PAR
NYSE: PAR Revenue Growth
NYSE: PAR Revenue Growth Savneet CEO
Operations, product, and M&A agenda
Over the next 20 minutes… You’ll learn OPERATIONS $200m Turnaround story Vision/People Training next layer of management PRODUCT Where to expand 1st, 2nd, 3rd Product Buckets Ecosystem Map Open Commerce M&A STRATEGY Deal 1: Buying $40m ARR Deal 2: 12x EBITDA Next Deal
Valuation and market-recognition challenge
NYSE: PAR Revenue Growth Why isn’t the market giving PAR Credit? Revenue is up 2x last 3 years, while market cap is ~50% lower Valuations
NYSE: PAR Revenue Growth POS Systems Old PAR 2001-2018
NYSE: PAR Revenue Growth Savneet Named Interim CEO Previously CoVenture and PE firm Tera-Holdings DEC 2018
Hardware-to-SaaS transformation
NYSE: PAR Revenue Growth Hardware to SaaS Product mix 2024
TASK acquisition
NYSE: PAR Revenue Growth Paid $206m for TASK ($40m ARR, $6m EBITDA) How did you get to the 5x ARR multiple, 34x EBITDA multiple? 2024
NYSE: PAR Revenue Growth Paid $206m for TASK ($40m ARR, $6m EBITDA) How did you get to the 5x ARR multiple, 34x EBITDA multiple? 2024
Stuzo acquisition and ecosystem strategy
NYSE: PAR Revenue Growth Paid $170m Cash for Stuzo ($40m ARR, $14m EBITDA) How did negotiate the 12x EBITDA multiple (4.5x ARR) 2024
NYSE: PAR Revenue Growth Which boxes do you Build, Partner, Buy? Would you acquire in “Marketing Automation” bucket? 2024
NYSE: PAR Revenue Growth What is the ARR/Share equivalent for private companies? Under each dollar of ARR is meaningful cash flow 2024
NYSE: PAR Revenue Growth
NYSE: PAR Revenue Growth
NYSE: PAR Revenue Growth
Turnaround takeaways
In summary, you just learned … all from a $400m ARR CEO who is doing it as we speak! OPERATIONS PRODUCT M&A STRATEGY $200m Turnaround story Vision/People Training next layer of management Where to expand 1st, 2nd, 3rd Product Buckets Ecosystem Map Open Commerce Deal 1: Buying $40m ARR Deal 2: 12x EBITDA Next Deal
SaaSOpen, September 2024 Thank you! Savneet Singh CEO of NYSE: PAR