Growth-oriented middle market private equity firm
Brentwood Associates
- HeadquartersLos Angeles, CA S1
- Websitebrentwood.com
- Last verifiedOctober 26, 2026
At a glance
| EBITDA range | Up to $50M S2 |
|---|---|
| Revenue range | $20M to $500M S2 |
| Check size | $50M to $200M S2 |
| Deal types | Platform, Growth, Minority, Add-on S2 |
| Sectors | Landscaping, Pest Control, Consumer & Food, Dental, Education, Software & SaaS |
What Brentwood Associates buys
Brentwood Associates is a Los Angeles private equity firm whose team has invested in more than 50 companies since 1984. It backs what it calls essential services businesses with loyal, repeat customers and room to grow through new locations, marketing, pricing and acquisitions. Its current holdings lean toward multi-unit consumer brands and franchisees (Chicken Salad Chick, Blaze Pizza, Snooze and a Wingstop franchisee), education and data services, health and wellness, and residential services such as Perennial Services Group, a lawn care, pest control, landscaping and tree care platform, and Watermill Express water and ice stations.
Brentwood writes equity checks of $50 million to $200 million into companies with $20 million to $500 million of revenue, up to $50 million of EBITDA, growth of 10% or more and margins of at least 10%. It does buyouts, growth equity and founder recapitalizations, usually as the majority owner. A smaller owner is most likely to reach Brentwood by selling to one of its platforms; Perennial alone had bought 25 local brands before Brentwood invested.
Recent deals
Announced in the 24 months before October 26, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jan 2026 | Perennial Services GroupEquity recapitalization, alongside Tenex Capital, of a Pittsburgh lawn care, pest control, landscaping and arbor platform with 49 branches in 15 states; management stays as significant owners; closed December 23, 2025 | Platform | Landscaping | Source |
| Oct 2025 | Throne LabsModular public restroom operator added to the portfolio; Throne announced the initial close of a $15 million Series B on this date | Growth | Source | |
| Jul 2025 | Watermill Express$410 million single-asset continuation fund closed so Brentwood can keep backing the drive-up water and ice station operator; Fund VII also invests | Fund close | Consumer & Food | Source |
Portfolio by sector
From the firm's portfolio page S3.
Education & Business Intelligence Services
- ClassWallet
- Excelligence Learning Corp
- Medbridge
- Service Management Group
- The Great Courses
Franchising
- Blaze Pizza
- Chicken Salad Chick
- Far West Services
- Hissho Sushi
Health & Wellness
- Afterburn Holdings
- Jefferson Dental & Orthodontics
- L-Nutra
- Pacifica
Residential Services
- KeyMe
- Perennial Services Group
- Watermill Express
Other
- Boston Proper
- J.McLaughlin
- Lazy Dog Restaurant & Bar
- Pacific Catch
- Snooze
- Throne Labs
- Upward Projects
Greymont’s take
How Brentwood Associates fits a seller
Brentwood is a realistic buyer only for larger companies, roughly $20 million of revenue and up, that grow at least 10% a year and can take a $50 million or bigger equity check. For most owners of lawn care, pest control, landscaping or tree care businesses, the practical route is a sale to Perennial Services Group, which buys established local brands and runs them as a multi-brand group. Brentwood tends to keep founders and managers involved: Watermill's co-founders chose it as their first institutional partner in 2021, and Perennial's leaders stayed on as significant shareholders in the 2025 recapitalization.
Brentwood also holds winners for a long time, as the 2025 Watermill continuation fund shows. An owner selling to a Brentwood platform should ask whether the deal includes rollover equity, how much of the platform's eventual sale they would share in, and whether their brand and local team will stay in place.
Questions owners ask
Will Brentwood Associates buy a small company?
Rarely as a new platform. Its criteria call for $20 million to $500 million of revenue and equity checks of $50 million to $200 million. Smaller companies usually join through add-ons, such as the 25 local lawn, pest and landscaping brands Perennial bought before Brentwood invested.
Does Brentwood invest in lawn care and pest control companies?
Yes. In January 2026 Brentwood announced that it had completed an equity recapitalization of Perennial Services Group, a Pittsburgh home services platform with 49 branches in 15 states, alongside Tenex Capital Management.
Does Brentwood take minority stakes?
It can. Its strategy page lists majority and minority investments, including buyouts, growth equity and founder recapitalizations, but says its focus is on majority buyouts.
Sources
- S1Brentwood Associates home page (Los Angeles address) Accessed October 26, 2026
- S2Brentwood Associates: Our Strategy (key investment criteria) Accessed October 26, 2026
- S3Brentwood Associates: Portfolio (current and realized, by sector) Accessed October 26, 2026
- S4Brentwood Associates: News Accessed October 26, 2026
- S5Brentwood Associates Completes Recapitalization of Perennial Services Group (January 12, 2026) Accessed October 26, 2026
- S6Brentwood Associates Closes $410 Million Continuation Fund for Watermill Express (July 21, 2025) Accessed October 26, 2026
- S7SMG Expands Experience Management Capabilities with Acquisition of Bulbshare (October 24, 2024) Accessed October 26, 2026
- S8Brentwood Associates: Throne Labs portfolio page Accessed October 26, 2026
- S9Throne Labs press page (Series B initial close, October 21, 2025) Accessed October 26, 2026
- S10Brentwood Associates Invests in Watermill Express (May 3, 2021) Accessed October 26, 2026
- S11Brentwood Associates Raises $1.15 Billion for Sixth Private Equity Fund (September 11, 2017) Accessed October 26, 2026
- S12Brentwood Associates: Residential Services portfolio Accessed October 26, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Brentwood Associates. Figures are as reported on the dates shown and may have changed. Request a correction