Sterling Investment Partners ("Sterling"), a private equity firm that has been investing in and building middle-market companies for 25 years, announces that its portfolio company, American West Restaurant Group (“AWRG”), acquired Penny Vision, LLC. Located in Orange County, California, Penny Vision, LLC operates 31 Pizza Hut quick service restaurants (“QSRs”).
AWRG is the largest Pizza Hut franchisee in California and the third largest in the United States. Including the Penny Vision acquisition, AWRG currently operates approximately 300 Pizza Hut QSRs in greater Los Angeles across five contiguous counties: central Los Angeles, Riverside, San Bernardino, Ventura, North Orange County, and metropolitan Salt Lake City. Its leading position in Southern California gives it the ability to control local marketing initiatives in its markets. Approximately 90% of AWRG’s units are highly efficient, modern delivery/carryout units that generate strong unit-level economics.
Sterling Investment Partners
Sterling Investment Partners is a private equity firm with a highly experienced, cohesive team of senior investment professionals. Sterling acquires businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Sterling has over $1.5 billion in initial fund commitments. Over its history, Sterling has completed platform investments, strategic or add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of over $12 billion, representing more than 100 transactions. Key industries Sterling focuses on include business services, industrial and consumer value-added distribution, niche manufacturing, and transportation and logistics. www.sterlinglp.com