PJW Restaurant Group, the Westmont, N.J.-based parent company of P.J. Whelihan’s, received an injection of growth capital from the investment firm Garnett Station Partners, the company announced on Monday.
Garnett worked along with PJW’s management, including founder Bob Platzer and CEO Jim Fris, on a recapitalization that the companies say should provide the company with growth capital in the coming years. Financial terms were not disclosed.
Platzer founded PJW in 1983. The company currently operates 26 locations in a number of concepts in New Jersey and Pennsylvania. P.J. Whelihan’s, a sports pub chain, is the company’s flagship concept.
Matt Perelman, managing partner with Garnett Station, called P.J. Whelihan’s “an iconic brand in one of America’s greatest sports market.”
“Over the last three years, we’ve worked closely with Bob and Jim to thoughtfully develop a strategic growth plan to extend the P.J. Whelihan’s magic to additional communities in New Jersey and Pennsylvania,” Perelman said.
Garnett Station’s investment includes all the concepts under the PJW umbrella, including The Pour House, a gastropub, The Chophouse, a high end steakhouse, The Chophouse Grille, a casual steakhouse, a casual Italian concept called Treno and a taco and tequila bar called Central Taco and Tequila.
Platzer said in a statement that the investment and Garnett Station will help PJW “build upon its already impressive growth and achieve new goals.”
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