February 02, 2022
Sterling Investment Partners and American West Restaurant Group Announce Sale of the Company
Sterling Investment Partners ("Sterling"), a Westport, Connecticut-based private equity firm that has been investing in and building middle-market companies for over 31 years announced that Sterling has completed the sale of American West Restaurant Group ("AWRG" or the "Company") to Sentinel Capital Partners (“Sentinel”). Terms of the transaction were not disclosed.
AWRG is the largest Pizza Hut franchisee in both California and Utah and the third largest in the United States. AWRG operates nearly 300 Pizza Hut quick service restaurants ("QSRs"), comprising approximately 5,000 employees, in greater Los Angeles across five contiguous counties (central Los Angeles, Riverside, San Bernardino, Ventura, and North Orange County) and around metropolitan Salt Lake City.
During Sterling’s ownership, the Company grew both organically and through targeted acquisitions. Sterling and AWRG management opened new locations and successfully converted legacy “red roof” stores to highly-productive delivery and carryout formats. The Company also acquired more than 70 stores in Utah and California, and embarked on extensive company-wide employee training programs to better serve the needs of the Company’s customers and employees. Sterling and AWRG supported technology initiatives to expand in-house delivery capabilities and also partnered with DoorDash to improve delivery services.
Charles Santoro, Co-founder and Managing Partner at Sterling noted, “We are very proud of our affiliation with the AWRG organization and their ability to serve their customer base and communities, particularly during the challenges of continuously operating throughout the COVID pandemic across a significantly enlarged geographic footprint. We wish the AWRG management team and all of its employees continued success during their next phase of growth and investment.” Joe Gault, Partner at Sterling, added “We are pleased by AWRG’s record of operational execution, including enhanced efficiencies and broader footprint across the western U.S., during our partnership and believe they are well positioned for the future.”
Sterling Investment Partners
Sterling Investment Partners is a private equity firm that has been investing in and building middle-market companies for 31 years with a highly experienced, cohesive team of senior investment professionals. Sterling focuses on business services and value-added distribution platforms, acquiring companies that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 205 transactions, representing $23.1 billion in transaction value. www.sterlinglp.com