BW Gas & Convenience Holdings, LLC d/b/a Yesway is pleased to announce that it has raised $190 million in new equity to fund its successful new store construction program in the second half of 2022. HPS Investment Partners (“HPS”), a leading global investment firm with $95 billion in assets under management, provides the majority of the structured equity.
Brookwood Financial Partners, a real estate private equity firm that specializes in acquiring and managing value-add commercial real estate and real estate-related operating businesses, founded Yesway in 2015. Brookwood has raised approximately $825 million in equity since Yesway’s inception to support Yesway’s growth strategy.
Yesway has launched an aggressive campaign to increase store count and financial performance over the last year by completing new stores and raze-and-rebuild projects across its portfolio and geographic footprint. Yesway will have built 17 new stores and 21 raze-and-rebuild projects by 2022, with an industry-leading annual return on invested capital. Given the success of its previous projects, Yesway intends to build 28 new stores in 2023, the majority of which will be funded with the proceeds of the new equity it has raised.
Founded in 1993, Brookwood Financial Partners specializes in acquiring and managing value-add commercial real estate and real estate-related operating businesses. Since its inception. Brookwood has invested over $1.9 billion of equity to acquire and manage a portfolio of 202 commercial real estate properties, seven operating companies, and 428 gas stations with convenience stores, collectively representing a total capitalization of over $4.5 billion.