BEVERLY, Mass. -- Brookwood Financial Partners LLC, a private-equity investment firm, announced Douglas Wald has joined the firm as a regional manager for BW Gas & Convenience Holdings LLC.
BW Gas & Convenience is an affiliate of Brookwood that owns and operates 10 gas stations with convenience stores in select regions of the United States.
Wald’s primary responsibility will be managing the daily operations of the firm’s growing portfolio of convenience stores in the Midwest; assisting individual store managers in the operations of their stores; hiring, training and mentoring newly hired store managers; creating merchandising and marketing plans; and ensuring that all applicable laws and regulations are followed. In addition, Wald will oversee his region’s operating budget, including each store’s P&L, and will serve as liaison between store-level employees and senior Brookwood management.
“Douglas is a well-respected industry veteran, with a tremendous work ethic, proven management skills and a substantial breadth of knowledge of multistate retail convenience-store operations,” said Brian Trout, senior vice president of operations for BW Gas & Convenience.
Prior to joining Brookwood, Wald was a regional operations manager for The Pantry Inc., where he held P&L responsibility for an 85-store chain in Kansas, Missouri, Indiana, Tennessee and Kentucky, generating more than $280 million a year in sales. Wald was also responsible for daily operations and fuel pricing and implemented marketing plans to enhance product merchandising and facility appearance. Before that, Wald was the COO for Presto Convenience Stores, where he managed 54 stores in two states with combined annual sales of more than $250 million. Wald oversaw all store operations and built long-standing relationships with vendors to enhance product presentation and marketing methods.
Brookwood made another hire to the BW Gas & Convenience team this month and announced several promotions earlier this year.
- Dennis P. Darveau has joined the company as vice president of construction and maintenance for BW Gas & Convenience. Darveau will direct all interior and exterior remodeling projects and other related capital improvements. He will prepare, review and oversee construction plans and review contracts with architects, engineers and third-party building contractors. He will also assemble a team of local building contractors, participate in all project designs and develop pro forma cost estimates and budgets. Before joining Brookwood, Darveau was the director of construction services and capital planning for Gulf Oil LP, where he was responsible for administering all real estate and construction activities for the entire Gulf portfolio. He also previously served as the senior vice president of new development and real estate for LDD Enterprises LLC, a firm he founded in 2005.
- Albert Chan and Jill O’Leary were promoted to accounting manager. Chan and O’Leary have established themselves as leaders within Brookwood’s Portfolio Accounting Group during their eight and six years with the firm, respectively. In their new roles, Chan and O’Leary will each lead a team of accountants that will be responsible for the general accounting, financial reporting, budgeting and financial analysis of a portfolio of commercial real estate properties.
- Adam Chin was promoted to assistant vice president. Chin is an acquisitions analyst in Brookwood’s Corporate Acquisition Group, where he has worked for the past two years. He is responsible for performing financial analysis and conducting due diligence on all gas station and convenience-store properties targeted for acquisition by BW Gas & Convenience. His responsibilities will continue to expand as the group plans to acquire approximately 600 convenience stores over the next several years.
- Jayne M. Rice has been promoted to partner of the firm. Rice is a managing director and serves as the firm’s director of institutional sales, marketing and investor relations. In addition, this past year, Rice was the driving force behind the expansion of Brookwood’s Human Resources Group, as the firm expanded by approximately 150 employees in 2015.
Beverly, Mass.-based Brookwood is a private-equity investment firm founded in 1993 that specializes in acquiring and managing value-add commercial real estate and related operating businesses on behalf of a select group of institutional and high-net-worth investors, family offices and trusts. Brookwood has raised more than $810 million of equity to acquire a portfolio of 199 commercial real-estate and convenience-store properties, with a realized and unrealized value in excess of $2.2 billion. The portfolio has spanned multiple asset classes, geographical markets and industries across the United States.
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