First Watch gets $225 million one-loan debt facility from Golub

By Sarah Lizee

Olympia, Wash., Aug. 24 – First Watch Restaurants, Inc. received a $225 million loan from Golub Capital as administrative agent, joint bookrunner and joint lead arranger, according to a news release.

The loan came in the form of a Golub Capital one-loan debt facility, known as a GOLD facility.

Proceeds will be used to support the acquisition of First Watch by private equity firm Advent International.

Carlyle Group, Ares Management and Goldman Sachs Asset Management were also involved in the financing.

University Park, Fla.-based First Watch operates and franchises restaurants primarily focused on breakfast foods.

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