SCHEDULE 13G/A: Advent International Maintains Significant Stake in First Watch Restaurant Group, Inc. with 31.7% Ownership
Beneficial Ownership Report
Advent International and its affiliated funds have reported a continued beneficial ownership of 19,189,784 shares, representing 31.7% of First Watch Restaurant Group, Inc.'s common stock as of December 31, 2024.
Summary
- Advent International, L.P. and its various affiliated funds (collectively, the "Reporting Persons") have filed an Amendment No. 3 to Schedule 13G regarding their beneficial ownership in First Watch Restaurant Group, Inc.
- As of December 31, 2024, the Reporting Persons collectively beneficially own 19,189,784 shares of First Watch Restaurant Group, Inc.'s Common Stock.
- This aggregate amount represents 31.7% of the Issuer's outstanding Common Stock.
- The percentage of class was calculated based on 60,569,820 shares of Common Stock outstanding as of November 5, 2024, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 7, 2024.
- The Reporting Persons hold shared voting power and shared dispositive power over all 19,189,784 shares.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
NA
Industry Context
This filing is a routine disclosure of a significant ownership stake by a private equity firm in a publicly traded restaurant company. Advent International's continued substantial holding indicates a long-term investment perspective in First Watch Restaurant Group, Inc., a company operating in the breakfast, brunch, and lunch segment of the restaurant industry.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's stake, which can influence market perception and liquidity.
- Company Management: Awareness of a major shareholder's continued interest and influence.
Key Dates
| Date | Description |
|---|---|
| 2024-11-05 | Date as of which 60,569,820 shares of Common Stock were outstanding, used for percentage calculation. |
| 2024-11-07 | Date the Issuer's Quarterly Report on Form 10-Q was filed with the SEC, disclosing shares outstanding. |
| 2024-12-31 | Date of event which requires the filing of this statement (beneficial ownership snapshot). |
| 2025-02-21 | Date the Schedule 13G Amendment No. 3 was signed by the Reporting Persons. |
Keywords
First Watch Restaurant Group, Advent International, SEC Filing, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Private Equity, Restaurant Industry, Public Company Disclosure
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