Yesway, a Fort Worth, Texas-based convenience store operator, raised an additional $235m in equity funding.
Brookwood Financial Partners, the private equity firm that founded Yesway, was the sole private placement agent for the offering. In total, the firm has raised over $642m in equity capital for its Yesway affiliate in addition to arranging over $237m in sale-leaseback proceeds.
The company intends to use the capital to fund an extensive raze-and-rebuild and store remodel campaign across the portfolio and pursue complimentary acquisitions to further expand the Yesway/Allsup’s brand presence.
Led by Tom Trkla, Chairman and Chief Executive Officer, Yesway has a portfolio of 402 stores located in Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma, and Nebraska, including the 304-store Allsup’s Convenience Store chain. The company plans to grow its portfolio to over 500 convenience stores in selected regions of the United States over the next several years.
FinSMEs
28/10/2020