Advent International, a global private equity firm, recently announced that it has agreed to make a majority investment in First Watch Restaurants Inc., the University Park-based breakfast, brunch and lunch restaurant chain. First Watch’s existing management team will continue to lead the company and will retain a meaningful equity stake in the business. The transaction is expected to close in the coming weeks. Financial terms were not disclosed. Advent International has invested in over 325 private equity transactions in 40 countries and as of this March had $39 billion in assets under management. With offices on four continents, Advent has a team of 190 investment professionals across North America, Europe, Latin America and Asia.
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