COSTA MESA, Calif.--(BUSINESS WIRE)--Brentwood Associates (“Brentwood”), a leading growth-oriented private equity firm, and Sixth Street, a leading global investment firm, have completed a significant growth investment in Far West Services (“Far West” or the “Company”), a franchisee of Wingstop restaurants. Brentwood and Sixth Street invested in partnership with Far West’s existing management, who will remain significant shareholders in the business going forward.
Founded in 2003 and headquartered in Costa Mesa, California, Far West is a Wingstop franchisee and currently operates over 100 restaurant locations across California, Nevada, Washington, Colorado, and Utah. Far West has steadily grown over the past two decades within existing and new territories through organic growth, new restaurant openings and strategic acquisitions. The Company’s success has been driven by Wingstop’s category of one positioning, a focus on maintaining operational excellence, delivering an unparalleled guest experience, and a compelling value proposition.
Far West’s Chief Executive Officer & President, Jorge Ortiz, will continue to lead the Company alongside Chairman, Founder & Brand Ambassador Danny Sonenshine and the rest of Far West’s management team. Commenting on the new partnership, Jorge Ortiz said, “We are excited to partner with Brentwood and Sixth Street. They both have an in-depth understanding of our business, and we look forward to the experience, strategic input, and value-added resources that they bring to the table as we continue to execute on our growth ahead.” Danny Sonenshine also commented, “As a Wingstop franchisee for over 20 years, we have had the benefit of watching the brand grow and evolve. It’s as strong as it’s ever been, and we look forward to working with our new partners to continue to build this great brand.”
Rahul Aggarwal, Partner at Brentwood, commented, “Far West has achieved tremendous growth and success throughout its history and has proven to be a premier franchisee excelling within the strong and growing Wingstop system. Far West is a great fit with our strategy of investing in high-growth, exceptional consumer businesses. We look forward to leveraging our expertise in restaurants, foodservice and franchising to help management continue Far West’s growth into the future.”
“Far West’s strong leadership team, operational expertise, and premier position within a best-in-class franchise system all align with what we consider core attributes for successfully growing consumer businesses,” said Kayvan Heravi, Managing Director at Sixth Street. “We are delighted to partner with Jorge and Danny to drive further Wingstop development.”
ABOUT FAR WEST SERVICES
Founded in 2003, Far West Services is a franchisee of over 100 Wingstop restaurants in California, Nevada, Washington, Colorado, and Utah with continued future growth planned in these markets. The Company’s success has been driven by Wingstop’s category of one positioning, a focus on maintaining operational excellence, delivering an unparalleled guest experience, and a compelling value proposition.
ABOUT BRENTWOOD ASSOCIATES
Brentwood Associates is a Los Angeles-based private equity investment firm with a 30+ year history of investing in middle-market growth-oriented consumer and business services companies. Since 1984, Brentwood’s dedicated private equity team has invested in over 50 portfolio companies with an aggregate transaction value of over $7 billion. With significant experience in both investing and brand building, Brentwood is a value-added partner for entrepreneurs and senior management teams building world-class companies. For more information about Brentwood, please visit www.brentwood.com.
ABOUT SIXTH STREET
Sixth Street is a leading global investment firm with over $70 billion in assets under management and committed capital. Sixth Street uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. The firm has more than 500 team members including more than 200 investment professionals operating around the world. For more information, visit www.sixthstreet.com and follow Sixth Street on social media.
