Los Angeles private equity firm Brentwood Associates bought a stake in Huntington Beach-based Lazy Dog Restaurant & Bar on undisclosed terms.
An announcement from the company said Brentwood's investment in Lazy Dog is "significant," but the chain's current management team, including Chief Executive and founder Chris Simms, retain "substantial ownership" in the restaurant chain.
A spokeswoman for the chain declined further comment.
Lazy Dog is set to open its first location in Northern California, in Concord, in the fall. The chain currently numbers 12 locations, all in California, and has plans for three more next year.
Simms told the Business Journal earlier this month that expansion out of state is a consideration, but still a couple of years away.
Brentwood's restaurant portfolio consists of Veggie Grill and Zoes Kitchen among others.