What NRD Capital Management does

NRD Capital Management is a privately held, middle-market private investment firm headquartered in Atlanta, Georgia, with additional outposts in New York City, Dallas, Johannesburg, and Toronto. Founded by Aziz Hashim, the firm focuses on management buyouts, franchising, technology, and going-private transactions globally, targeting companies with $2M-$15M of EBITDA across restaurants and foodservice, franchise concepts, consumer services, human capital management, and consumer-facing technology. NRD provides both equity and debt capital structures and differentiates through an operator-led model, combining capital with hands-on operating experience drawn from a deep bench of seasoned operators.

The firm's most visible operating platform is Indoor Active Brands, a multi-brand franchise roll-up that houses Altitude Trampoline Park, The Pickle Pad, Crave Social Eatery, and Birdie ParTee. This platform is approaching 100 global locations and is targeting 12 to 15 new openings per year, with international expansion underway via a first UAE location in Sharjah. Historically, NRD has executed buyouts of Ruby Tuesday (2017), Fuzzy's Taco Shop (2016), and Frisch's Restaurants (2015, approximately $175 million), establishing its playbook in restaurant and franchise consolidation. The firm monetizes through franchise fees and royalties across the Indoor Active Brands portfolio, investment returns on portfolio companies, and management fees; it does not publicly disclose firm-level revenue.

Beyond its investment activity, NRD operates the NRD Foundation, supporting franchised water solutions, international entrepreneurship, and academic research on franchise entrepreneurship, including an endowed faculty position at Georgia State University's School of Hospitality. Marketing and deal-flow channels include a nationally distributed Public Television segment on Viewpoint with Dennis Quaid, in collaboration with the International Franchise Association (IFA). The firm remains founder-controlled, with no disclosed institutional investor or parent company.

Name

NRD Capital Management

Legal name

NRD Capital

Website

https://nrdcapital.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

NRD Capital Management is a privately held, Atlanta-based middle-market private investment firm founded by Aziz Hashim that invests equity and debt into franchising, restaurant, and consumer-services companies with $2M-$15M of EBITDA, and operates the Indoor Active Brands multi-brand franchise platform (Altitude, Pickle Pad, Crave, Birdie ParTee) at ~100 global locations.

Ownership category

akta.pro rank

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Private Investment and Capital Provision: NRD Capital provides both equity and debt capital structures to portfolio companies. The firm focuses on management buyouts, franchising, technology, and going-private transactions globally, targeting companies with $2M-$15M of EBITDA.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

NRD Capital is a middle-market private investment firm that provides both equity and debt capital structures to companies with superior unit economics, focused on management buyouts, franchising, technology, and going-private transactions globally. The firm invests in differentiated companies with clear customer propositions in restaurants and foodservice, franchise concepts, consumer services, human capital management, and consumer-aligned technology sectors. It also operates a franchise platform (Indoor Active Brands) housing brands such as Altitude Trampoline Park, The Pickle Pad, Crave Social Eatery, and Birdie ParTee.

Product overview

NRD Capital Management is a private capital firm that operates as a platform for franchise investments rather than a single product. The company creates and manages platforms such as Indoor Active Brands, under which it develops multiple franchise concepts including Altitude Trampoline Park, The Pickle Pad, Crave Social Eaterie, and Birdie ParTee. This multi-brand strategy combines complementary entertainment and dining concepts to create family entertainment destinations. The firm also supports Experiential Brands as part of its portfolio of franchise investments.

Differentiator

Problem solved

Functional benefit

Brands

• NRD Foundation (NRDF): The philanthropic arm of NRD Capital, supporting non-profit and for-profit international organizations that create entrepreneurs, foster financial independence, and power academic research focused on franchise entrepreneurship.

Products and services

• Altitude Trampoline Park (Franchise) A trampoline park franchise brand operating under the Indoor Active Brands platform, offering family entertainment centers with trampolines, obstacle courses, and fitness programs as part of a multi-brand strategy.
• The Pickle Pad (Franchise) A pickleball court franchise brand operating as part of the multi-brand strategy alongside Altitude Trampoline Park, offering recreational sports facilities.
• Crave Social Eatery (Franchise) A complementary dining concept within the multi-brand strategy, designed to pair with entertainment venues under the Indoor Active Brands platform.
• Birdie ParTee (Franchise) A complementary entertainment concept within the multi-brand strategy, included in the portfolio alongside trampoline parks and other offerings under Indoor Active Brands.
• Indoor Active Brands (Franchise Platform) A franchise platform created by NRD Capital that houses multiple entertainment and dining brands including Altitude Trampoline Park, The Pickle Pad, Crave Social Eatery, and Birdie ParTee, targeting 12 to 15 new park openings annually.
• Experiential Brands (Portfolio Platform) An experiential brands platform under NRD Capital's portfolio that encompasses franchise concepts including trampoline parks and complementary entertainment offerings.
• Private Investment Capital (Equity and Debt) NRD Capital provides both equity and debt capital structures for management buyouts, franchising, technology investments, and going-private transactions, targeting companies with $2M-$15M of EBITDA in restaurants and foodservice, franchise concepts, consumer services, human capital management, and technology sectors.

Named customers3 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• International Franchise Association (IFA)coreStrategic or Co-development PartnerNRD Capital collaborated with IFA for the Viewpoint with Dennis Quaid feature. NRD's Founder Aziz Hashim and IFA CEO Matt Haller were selected as industry experts to help educate Americans on the franchising model, challenging the myth of the solo entrepreneur and highlighting how franchising offers a proven path to business ownership.
• Indoor Active BrandscoreStrategic or Co-development PartnerPlatform created by NRD Capital to operate franchise concepts including Altitude Trampoline Park, The Pickle Pad, Crave Social Eatery, and Birdie ParTee. The platform executes a multi-brand strategy combining trampoline parks with complementary entertainment concepts.
• Aziz HashimcoreOthersNRD Capital founder who built the firm by operators seeking to add value beyond capital. Defined by ethic of helping others improve quality of life.
• NRD Foundation (NRDF)coreStrategic or Co-development PartnerNRD Foundation supports non-profit and for-profit international organizations that create entrepreneurs, foster financial independence, and power academic research focused on franchise entrepreneurship. Established with projects including supporting franchised water solution and endowing faculty position at Georgia State University's School of Hospitality.
• Georgia State University School of HospitalityminorStrategic or Co-development PartnerHashims endowed a faculty position in the School of Hospitality at Georgia State University in September 2022, supporting academic research focused on franchise entrepreneurship.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Roark Capital Group: Roark Capital is a private equity firm that focuses exclusively on franchise and consumer-facing businesses (e.g., Inspire Brands, Massage Envy, Driven Brands). It is the closest direct peer to NRD's franchise- and consumer-services-led buyout strategy, operating at larger scale but with the same thesis.
• Sentinel Capital Partners: Sentinel is a lower-middle-market PE firm that invests in management buyouts of franchise, consumer services, and multi-unit businesses (often $5M-$50M EBITDA). Comparable to NRD in check size, sector focus, and operator-involvement approach.
• Sun Capital Partners: Sun Capital is a middle-market PE firm with a long-standing focus on restaurants, food, and consumer businesses (e.g., Boston Market, Captain D's, Friendly's). Directly comparable to NRD given overlapping restaurant and consumer-services franchise thesis.
• The Riverside Company: Riverside is a global middle-market private equity firm investing in franchise, consumer, and services businesses. Similar to NRD in check size, sector mix, and global outpost model (offices across the U.S., Europe, and Asia).
• Brentwood Associates: Brentwood is a consumer-focused private equity firm that invests in growth-oriented consumer and retail businesses, including multi-unit and franchise models. Overlapping consumer-services mandate and middle-market check size make it a strong comparable to NRD.
• Trinity Hunt Partners: Trinity Hunt is a middle-market private equity firm focused on founder- and family-led consumer and business services companies. Comparable to NRD in founder-led, operator-engaged approach and middle-market services thesis.

Broad incumbents

• L Catterton: L Catterton is a large consumer-focused private equity firm with deep restaurant and franchise exposure. Comparable thesis to NRD but operating at materially larger scale and brand recognition.
• Bain Capital: Bain Capital is a global alternative asset manager with significant private equity activity in consumer, retail, and restaurant/foodservice (e.g., Burger King, Dunkin' historically). Overlaps with NRD on consumer services and franchise investing, though at a far larger scale.
• Apollo Global Management: Apollo is a major global alternative asset manager with PE investments spanning consumer, retail, and franchise-related businesses (e.g., Outback Steakhouse historically). Comparable investment categories to NRD, but at much greater scale and breadth.
• KKR & Co. KKR is a global private equity firm with a broad consumer and services mandate that includes restaurant and franchise platforms (e.g., Heartland Food Products, KainosSmart). Overlaps with NRD in middle-market consumer buyouts but operates at meaningfully greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/nrdcapital
• LinkedInlinkedin.com/company/6374101

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NRD Capital Management