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[SCHEDULE 13G/A] First Watch Restaurant Group, Inc. SEC Filing

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13G/A
Rhea-AI Filing Summary

First Watch Restaurant Group, Inc. is the subject of a Schedule 13G/A filed by a group of Advent International-related entities reporting collective beneficial ownership of 14,689,784 shares of the issuer's common stock. That stake represents 24.1% of the class based on 61,023,971 shares outstanding as reported by the issuer. The reporting persons include Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; and AP GPE VIII GP Limited Partnership.

The filing shows no sole voting or dispositive power for the reporting persons (sole power = 0) and reports the aggregate amounts as shared voting and shared dispositive power. Individual amounts disclosed include 10,071,581 shares (16.5%) attributed to GPE VIII GP S.a.r.l., 3,997,295 shares (6.6%) to GPE VIII GP Limited Partnership, and 620,908 shares (1.0%) to AP GPE VIII GP Limited Partnership.

First Watch Restaurant Group, Inc. è oggetto di una Schedule 13G/A depositata da un gruppo di entità legate ad Advent International che dichiarano una titolarità beneficiaria collettiva di 14,689,784 azioni del capitale ordinario dell'emittente. Tale partecipazione rappresenta il 24.1% della classe su un totale di 61,023,971 azioni in circolazione, come riportato dall'emittente. I soggetti che hanno presentato la comunicazione includono Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; e AP GPE VIII GP Limited Partnership.

La documentazione indica che i soggetti segnalanti non detengono potere di voto o di disposizione esclusivi (potere esclusivo = 0) e riporta gli importi aggregati come potere di voto condiviso e potere dispositivo condiviso. Gli importi individuali divulgati includono 10,071,581 azioni (16.5%) attribuite a GPE VIII GP S.a.r.l., 3,997,295 azioni (6.6%) a GPE VIII GP Limited Partnership e 620,908 azioni (1.0%) a AP GPE VIII GP Limited Partnership.

First Watch Restaurant Group, Inc. es objeto de una Schedule 13G/A presentada por un grupo de entidades relacionadas con Advent International que declaran una titularidad beneficiaria colectiva de 14,689,784 acciones del capital social ordinario de la emisora. Esa participación representa el 24.1% de la clase sobre 61,023,971 acciones en circulación, según lo informado por la emisora. Las personas que informan incluyen Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; y AP GPE VIII GP Limited Partnership.

La presentación muestra que las personas informantes no tienen poder exclusivo de voto ni de disposición (poder exclusivo = 0) y declara los importes agregados como poder de voto compartido y poder de disposición compartido. Las cantidades individuales divulgadas incluyen 10,071,581 acciones (16.5%) atribuidas a GPE VIII GP S.a.r.l., 3,997,295 acciones (6.6%) a GPE VIII GP Limited Partnership y 620,908 acciones (1.0%) a AP GPE VIII GP Limited Partnership.

First Watch Restaurant Group, Inc.� Advent International 관� 기관들로 구성� 그룹� 제출� Schedule 13G/A� 대상이�, 이들은 발행회사� 보통� 14,689,784�� 대� 집단� 실질 소유� 신고했습니다. � 지분은 발행사가 보고� 바에 따르� � 61,023,971� � 24.1%� 클래�� 해당합니�. 신고인에� Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; � AP GPE VIII GP Limited Partnership가 포함됩니�.

서류� 신고인들� 단독 의결권이� 처분권을 보유하지 않음(단독 권한 = 0)으로 표시되었으며, 집계� 수량은 공동 의결� � 공동 처분�으로 보고되었습니�. 개별 공개� 수량으로� GPE VIII GP S.a.r.l.� 귀속된 10,071,581�(16.5%), GPE VIII GP Limited Partnership� 귀속된 3,997,295�(6.6%), AP GPE VIII GP Limited Partnership� 귀속된 620,908�(1.0%)� 포함됩니�.

First Watch Restaurant Group, Inc. fait l'objet d'une Schedule 13G/A déposée par un groupe d'entités liées à Advent International déclarant une propriété bénéficiaire collective de 14,689,784 actions des actions ordinaires de l'émetteur. Cette participation représente 24.1% de la catégorie sur la base de 61,023,971 actions en circulation, selon les informations fournies par l'émetteur. Les déclarants comprennent Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; et AP GPE VIII GP Limited Partnership.

Le dépôt indique aucun pouvoir de vote ou de disposition exclusif pour les déclarants (pouvoir exclusif = 0) et présente les montants agrégés comme pouvoir de vote partagé et pouvoir de disposition partagé. Les montants individuels divulgués incluent 10,071,581 actions (16.5%) attribuées à GPE VIII GP S.a.r.l., 3,997,295 actions (6.6%) à GPE VIII GP Limited Partnership et 620,908 actions (1.0%) à AP GPE VIII GP Limited Partnership.

First Watch Restaurant Group, Inc. ist Gegenstand einer Schedule 13G/A, die von einer Gruppe von Advent International-verbundenen Gesellschaften eingereicht wurde und eine gemeinsame wirtschaftliche Eigentümerschaft von 14,689,784 Aktien der Stammaktien des Emittenten meldet. Diese Beteiligung entspricht 24.1% der Klasse basierend auf 61,023,971 ausstehenden Aktien, wie vom Emittenten angegeben. Zu den meldenden Personen gehören Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; und AP GPE VIII GP Limited Partnership.

Die Einreichung weist für die meldenden Personen kein alleiniges Stimm- oder Verfügungsrecht aus (Alleinrecht = 0) und gibt die aggregierten Beträge als geteiltes Stimmrecht und geteiltes Verfügungsrecht an. Einzelne offengelegte Beträge umfassen 10,071,581 Aktien (16.5%), die GPE VIII GP S.a.r.l. zugeordnet sind, 3,997,295 Aktien (6.6%) der GPE VIII GP Limited Partnership und 620,908 Aktien (1.0%) der AP GPE VIII GP Limited Partnership.

Positive
  • Material ownership disclosed: 14,689,784 shares representing 24.1% of the class
  • Detailed breakdown by entity: includes 10,071,581 (16.5%), 3,997,295 (6.6%), and 620,908 (1.0%)
  • Shared voting and dispositive power quantified: voting/dispositive figures are provided rather than aggregated without detail
Negative
  • No sole voting or dispositive power: sole power reported as 0 for the reporting persons
  • Filing contains no statements of intent or agreements: the document does not disclose any plans, transactions, or arrangements tied to the holdings
  • Percent relies on issuer's reported outstanding share count: percent calculation references the issuer's stated outstanding shares

Insights

TL;DR A consortium of Advent entities reports a material 24.1% beneficial stake (14.69M shares) with only shared voting/dispositive power.

The Schedule 13G/A discloses a significant, concentrated ownership position by Advent-related entities amounting to 14,689,784 shares or 24.1% of the outstanding common stock. The filing is a plain ownership disclosure: it does not state any transactions, voting agreements, or change-of-control intentions. Reported sole voting and dispositive power are zero, while shared voting/dispositive power equals the aggregate holdings. For investors, the key takeaway is the material size of the stake and the allocation across named Advent entities; the filing provides no additional operational or transactional detail.

TL;DR Advent-related entities hold a material minority position (24.1%) and report shared—not sole—authority over those shares.

The disclosure identifies the specific Advent entities holding the position and quantifies holdings by entity (notably 10,071,581 shares by GPE VIII GP S.a.r.l.). The statement clarifies the governance profile: sole voting/dispositive power is reported as zero, with the reported influence reflected through shared voting and dispositive power. The filing does not describe any agreements, board representation, or planned actions tied to this ownership, limiting conclusions about governance outcomes from the disclosure alone.

First Watch Restaurant Group, Inc. è oggetto di una Schedule 13G/A depositata da un gruppo di entità legate ad Advent International che dichiarano una titolarità beneficiaria collettiva di 14,689,784 azioni del capitale ordinario dell'emittente. Tale partecipazione rappresenta il 24.1% della classe su un totale di 61,023,971 azioni in circolazione, come riportato dall'emittente. I soggetti che hanno presentato la comunicazione includono Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; e AP GPE VIII GP Limited Partnership.

La documentazione indica che i soggetti segnalanti non detengono potere di voto o di disposizione esclusivi (potere esclusivo = 0) e riporta gli importi aggregati come potere di voto condiviso e potere dispositivo condiviso. Gli importi individuali divulgati includono 10,071,581 azioni (16.5%) attribuite a GPE VIII GP S.a.r.l., 3,997,295 azioni (6.6%) a GPE VIII GP Limited Partnership e 620,908 azioni (1.0%) a AP GPE VIII GP Limited Partnership.

First Watch Restaurant Group, Inc. es objeto de una Schedule 13G/A presentada por un grupo de entidades relacionadas con Advent International que declaran una titularidad beneficiaria colectiva de 14,689,784 acciones del capital social ordinario de la emisora. Esa participación representa el 24.1% de la clase sobre 61,023,971 acciones en circulación, según lo informado por la emisora. Las personas que informan incluyen Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; y AP GPE VIII GP Limited Partnership.

La presentación muestra que las personas informantes no tienen poder exclusivo de voto ni de disposición (poder exclusivo = 0) y declara los importes agregados como poder de voto compartido y poder de disposición compartido. Las cantidades individuales divulgadas incluyen 10,071,581 acciones (16.5%) atribuidas a GPE VIII GP S.a.r.l., 3,997,295 acciones (6.6%) a GPE VIII GP Limited Partnership y 620,908 acciones (1.0%) a AP GPE VIII GP Limited Partnership.

First Watch Restaurant Group, Inc.� Advent International 관� 기관들로 구성� 그룹� 제출� Schedule 13G/A� 대상이�, 이들은 발행회사� 보통� 14,689,784�� 대� 집단� 실질 소유� 신고했습니다. � 지분은 발행사가 보고� 바에 따르� � 61,023,971� � 24.1%� 클래�� 해당합니�. 신고인에� Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; � AP GPE VIII GP Limited Partnership가 포함됩니�.

서류� 신고인들� 단독 의결권이� 처분권을 보유하지 않음(단독 권한 = 0)으로 표시되었으며, 집계� 수량은 공동 의결� � 공동 처분�으로 보고되었습니�. 개별 공개� 수량으로� GPE VIII GP S.a.r.l.� 귀속된 10,071,581�(16.5%), GPE VIII GP Limited Partnership� 귀속된 3,997,295�(6.6%), AP GPE VIII GP Limited Partnership� 귀속된 620,908�(1.0%)� 포함됩니�.

First Watch Restaurant Group, Inc. fait l'objet d'une Schedule 13G/A déposée par un groupe d'entités liées à Advent International déclarant une propriété bénéficiaire collective de 14,689,784 actions des actions ordinaires de l'émetteur. Cette participation représente 24.1% de la catégorie sur la base de 61,023,971 actions en circulation, selon les informations fournies par l'émetteur. Les déclarants comprennent Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; et AP GPE VIII GP Limited Partnership.

Le dépôt indique aucun pouvoir de vote ou de disposition exclusif pour les déclarants (pouvoir exclusif = 0) et présente les montants agrégés comme pouvoir de vote partagé et pouvoir de disposition partagé. Les montants individuels divulgués incluent 10,071,581 actions (16.5%) attribuées à GPE VIII GP S.a.r.l., 3,997,295 actions (6.6%) à GPE VIII GP Limited Partnership et 620,908 actions (1.0%) à AP GPE VIII GP Limited Partnership.

First Watch Restaurant Group, Inc. ist Gegenstand einer Schedule 13G/A, die von einer Gruppe von Advent International-verbundenen Gesellschaften eingereicht wurde und eine gemeinsame wirtschaftliche Eigentümerschaft von 14,689,784 Aktien der Stammaktien des Emittenten meldet. Diese Beteiligung entspricht 24.1% der Klasse basierend auf 61,023,971 ausstehenden Aktien, wie vom Emittenten angegeben. Zu den meldenden Personen gehören Advent International, L.P.; Advent International GP, LLC; Advent International GPE VIII, LLC; GPE VIII GP S.a.r.l.; GPE VIII GP Limited Partnership; und AP GPE VIII GP Limited Partnership.

Die Einreichung weist für die meldenden Personen kein alleiniges Stimm- oder Verfügungsrecht aus (Alleinrecht = 0) und gibt die aggregierten Beträge als geteiltes Stimmrecht und geteiltes Verfügungsrecht an. Einzelne offengelegte Beträge umfassen 10,071,581 Aktien (16.5%), die GPE VIII GP S.a.r.l. zugeordnet sind, 3,997,295 Aktien (6.6%) der GPE VIII GP Limited Partnership und 620,908 Aktien (1.0%) der AP GPE VIII GP Limited Partnership.






Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)






SCHEDULE 13G




Comment for Type of Reporting Person: The percent of class was calculated based on 61,023,971 shares of common stock, $0.01 par value per share ("Common Stock") outstanding as of August 1, 2025, as reported on the Form 10-Q filed by the Issuer with the Securities and Exchange Commission (the "SEC") on August 5, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The percent of class was calculated based on 61,023,971 shares of Common Stock outstanding as of August 1, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on August 5, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The percent of class was calculated based on 61,023,971 shares of Common Stock outstanding as of August 1, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on August 5, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The percent of class was calculated based on 61,023,971 shares of Common Stock outstanding as of August 1, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on August 5, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The percent of class was calculated based on 61,023,971 shares of Common Stock outstanding as of August 1, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on August 5, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The percent of class was calculated based on 61,023,971 shares of Common Stock outstanding as of August 1, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on August 5, 2025.


SCHEDULE 13G



ADVENT INTERNATIONAL, L.P.
Signature:/s/ Neil Crawford
Name/Title:Neil Crawford / Vice President of Finance
Date:08/12/2025
ADVENT INTERNATIONAL GP, LLC
Signature:/s/ Neil Crawford
Name/Title:Neil Crawford / Vice President of Finance
Date:08/12/2025
Advent International GPE VIII, LLC
Signature:/s/ Justin Nuccio
Name/Title:Justin Nuccio / Manager
Date:08/12/2025
GPE VIII GP S.a.r.l.
Signature:/s/ Justin Nuccio
Name/Title:Justin Nuccio / Manager
Date:08/12/2025
GPE VIII GP Limited Partnership
Signature:/s/ Neil Crawford
Name/Title:Neil Crawford / Vice President of Finance
Date:08/12/2025
AP GPE VIII GP Limited Partnership
Signature:/s/ Neil Crawford
Name/Title:Neil Crawford / Vice President of Finance
Date:08/12/2025
Exhibit Information

https://www.sec.gov/Archives/edgar/data/1034196/000114036124007952/ef20021611_ex99-1.htm

FAQ

How many First Watch (FWRG) shares does Advent beneficially own?

14,689,784 shares, representing 24.1% of the class as reported in the filing.

Which Advent entity holds the largest First Watch position?

GPE VIII GP S.a.r.l. is reported to hold 10,071,581 shares (16.5%) of the common stock.

Does any reporting person have sole voting or dispositive power over these shares?

No. The filing reports 0 sole voting power and 0 sole dispositive power; the powers are reported as shared.

What class of securities is covered in the filing?

Common Stock, $0.01 par value per share of First Watch Restaurant Group, Inc.

On what basis was the percent of the class calculated?

The percent was calculated using 61,023,971 shares outstanding as reported by the issuer in its disclosure referenced in the filing.
First Watch Restaurant Group, Inc.

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Restaurants
Retail-eating Places
United States
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