The roll-up lens — proving the thesis deal by deal, and surfacing the integration drag that holds margin back.
The roll-up thesis is working — +$1346.7500000000002M of EBITDA captured and 74% of synergy banked — but 4 in-flight businesses ($9258.91M revenue) still hold margin back. Finish their cutover to close the gap to 100% synergy, the highest-return work in the company.
4 of 4 headline metrics improving vs prior · still off target: Synergy Realized $120M vs $150M, EBITDA Margin 23.3% vs 24.0%, DSO 49d vs 47d
Avg synergy is only 74% of plan banked; the unrealized balance is EBITDA already underwritten but not yet captured.
Vichy is the weakest cohort on synergy capture; a 90-day savings plan on the gap is unrealized EBITDA.
Move to credit hold pending paydown; reforecast ARR net of likely churn.
Distress filings + overdue AR; churn risk High on $6.4M account.
Gates the cohort cutover (and the exit).
Pavion is built by acquisition. This view shows, for each business bought, what we paid for vs what it earns now — and flags the ones still mid-integration where ~+$21M of profit, faster cash and lower churn are still on the table.
Finishing the 4 in-flight businesses (La Roche-Posay, Kérastase, Maybelline New York, Vichy) closes the gap to 100% — the single highest-return work in the company.
Each card: what changed since purchase, how far integration has gone, and the next move.
Each cohort ranked within the set on five KPIs (direction per metric), then a composite Overall Rank from summed rank points — the dashboard's RANKX leaderboard. Top & bottom highlighted.
| Overall | Unit | Revenue↑ better | EBITDA %↑ better | ARR↑ better | Synergy %↑ better | DSO gain↑ better | Rank pts |
|---|---|---|---|---|---|---|---|
| 1 | L'Oréal Paris | $5387M#1 | 898%#1 | $2918M#1 | 88%#3 | 12d#2 | 8 |
| 2 | Lancôme | $1908M#5 | 786%#2 | $673M#5 | 92%#1 | 13d#1 | 14 |
| 3 | La Roche-Posay | $3255M#2 | 729%#3 | $1066M#2 | 74%#5 | 9d#5 | 17 |
| 4 | Garnier | $1235M#7 | 729%#3 | $449M#7 | 90%#2 | 12d#2 | 21 |
| 4 | Maybelline New York | $2076M#4 | 673%#5 | $729M#4 | 78%#4 | 11d#4 | 21 |
| 6 | Kérastase | $2301M#3 | 617%#6 | $786M#3 | 55%#6 | 6d#6 | 24 |
| 7 | Vichy | $1627M#6 | 505%#7 | $505M#6 | 40%#7 | 3d#7 | 33 |
Higher EBITDA %, revenue, ARR and synergy rank better; DSO gain = days of receivables improvement since acquisition (more = better). Composite rank points are the sum of the five per-KPI ranks (lower = better).
As-acquired → current across EBITDA, DSO, integration and synergy.
| Brand | Yr | Revenue | ARR | EBITDA % | DSO | Integrated | Synergy | Status |
|---|---|---|---|---|---|---|---|---|
| Lancôme | 2021 | $1907.9M | $673.38M | 505.03→785.61 | 71→58d | 100% | 92% | Integrated |
| Garnier | 2021 | $1234.52M | $448.92M | 448.92→729.49 | 66→54d | 100% | 90% | Integrated |
| L'Oréal Paris | 2022 | $5387.01M | $2917.96M | 617.26→897.83 | 68→56d | 95% | 88% | Integrated |
| La Roche-Posay | 2023 | $3254.65M | $1066.18M | 561.15→729.49 | 70→61d | 82% | 74% | In progress |
| Kérastase | 2024 | $2300.7M | $785.61M | 505.03→617.26 | 73→67d | 60% | 55% | In progress |
| Maybelline New York | 2024 | $2076.24M | $729.49M | 505.03→673.38 | 71→60d | 80% | 78% | In progress |
| Vichy | 2024 | $1627.32M | $505.03M | 448.92→505.03 | 69→66d | 45% | 40% | Early |