Fuel for growth

The appetite for growth at breakfast, brunch and lunch chain First Watch — which has tripled in size in the last five years to some 300 stores — remains big. Big enough that a long-term goal is to hit 1,000 locations.

The east Manatee County-based chain now has a new ally in its quest: Advent International, a global private equity giant with more than $9 billion in investments in 27 years, focusing on the retail, consumer and leisure industries. Current and past companies in Boston-based Advent's portfolio include Noosa Yoghurt; lululemon athletica; fast food chain Bojangles; and Five Below.

Advent acquired a majority stake in First Watch in a deal announced late last month. Terms of the deal weren't disclosed and First Watch's existing management team will continue to lead the company and “retain a meaningful equity stake” in the business, according to a statement.