Franchisee Poised for Enlargement with Backing from Main Personal Fairness and World Funding Corporations
Brentwood Associates, a non-public fairness agency, and Sixth Road, a worldwide funding agency, have invested in Far West Companies, a franchisee proudly owning greater than 100 Wingstop eating places. Brentwood and Sixth Road invested in partnership with Far West’s present administration, who will keep on on the firm and likewise will stay important shareholders within the enterprise, in line with a report printed by Businesswire.com.
Far West, based 20 years in the past and based mostly in Costa Mesa, Calif., operates fast-casual Wingstop eating places in California, Nevada, Washington, Colorado and Utah. Through the years, Far West has compounded its success by rising organically, opening new eating places and making strategic acquisitions. Because it has prospered, Far West has all the time emphasised excellence in operation and peerless visitor experiences.
Brentwood’s Quick-Informal Historical past
Brentwood has lengthy been concerned within the fast-casual restaurant market, which is rising at a fast tempo. Straits Research mentioned the worldwide fast-casual market was estimated at $169.92 billion in 2022 and projected that its market worth will attain an enormous $407.26 billion by 2031, reflecting a compound annual progress charge of 10.2% from 2023 to 2031.
Rahul Aggarwal, a accomplice at Brentwood, informed FranchiseWire that his agency beforehand had invested in a handful of high-profile fast-casual and fast-food manufacturers. “Brentwood has additionally made investments in franchisors traditionally, together with Hen Salad Chick and Blaze Pizza,” he added.
Far West’s Future
“Our objective is to develop Far West over time, primarily by means of new restaurant improvement,” he said in an e mail. “We imagine there to be a substantial amount of progress nonetheless forward within the Wingstop model. The enterprise has many attributes that we discover interesting. We imagine Wingstop to be an awesome franchisor with an extended historical past of success. Far West’s sturdy administration staff has allowed them to be a really profitable franchisee in that system.”
Aggarwal mentioned he believes the mixed assets of Brentwood, Sixth Road and Far West will ship wonderful outcomes for all three of the partnering enterprise entities. “Far West is a good match with our technique of investing in high-growth, distinctive client companies. We look ahead to leveraging our experience in eating places, foodservice and franchising to assist administration proceed Far West’s progress into the longer term.”
Response from Far West Leaders
Far West CEO and President Jorge Ortiz will proceed to guide Far West together with its founder/model ambassador and Chairman Danny Sonenshine and others at the moment comprising Far West’s administration staff. Ortiz praised the brand new partnership with Brentwood and Sixth Road, saying: “They each have an in-depth understanding of our enterprise, and we look ahead to the expertise, strategic enter and value-added assets that they convey to the desk.”
Sonenshine mentioned Far West’s administration seems ahead to the continued progress of its Wingstop holdings. The franchise “is as sturdy because it’s ever been, and we look ahead to working with our new companions to proceed to construct this nice model,” he mentioned.
About Brentwood and Sixth Road
Los Angeles-based Brentwood Associates is a non-public fairness funding agency that acquires stakes in middle-market growth-oriented client and enterprise companies firms. Since 1984, Brentwood’s non-public fairness staff has invested over $7 billion in additional than 50 portfolio firms. By the a long time, Brentwood has a report of bringing strong expertise in brand-building to entrepreneurs and senior administration groups.
Sixth Road, which invests internationally, has in extra of $70 billion in property beneath administration and dedicated capital. It helps firms throughout all phases of progress. Sixth Road has greater than 500 staff members, together with greater than 200 funding professionals working globally.
In a information launch, Kayvan Heravi, managing director at Sixth Road, mentioned, “Far West’s sturdy management staff, operational experience and premier place inside a best-in-class franchise system all align with what we take into account core attributes for efficiently rising client companies.”