Advantage Solutions has national retail execution scale and positive adjusted EBITDA, but the equity case is hostage to Branded Services pressure, cash conversion, refinancing costs, and 4.2x net leverage.
Advantage Solutions: Retail Muscle, 4.2x Leverage, And A Branded-Services Problem
NASDAQADVCoverage BootstrapBusiness Services
Thesis summary
Advantage Solutions has national retail execution scale and positive adjusted EBITDA, but the equity case is hostage to Branded Services pressure, cash conversion, refinancing costs, and 4.2x net leverage.
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