NSP

What NSP does

NSP (Nordic Service Partners Holding AB) is a multi-unit franchisee operating quick-service and casual dining restaurants in Sweden and Denmark. The company holds franchise rights from Burger King (since 2004, currently approximately 44 units in Sweden and 17 in Denmark), KFC (since 2014, approximately 20 units in Sweden), and TGI Fridays (since 2014, 1 unit in Denmark), totaling approximately 80 restaurants across the two Nordic markets. NSP is the largest Burger King franchisee in the Nordics.

The business model is direct-to-consumer food and beverage sales at owned and operated restaurant units located in drive-thru sites near traffic hubs and shopping centers, city center inline locations, and food court positions. NSP generates revenue from walk-in, drive-thru, and delivery/takeaway orders, with no licensing or royalty revenue from third parties. Site selection follows defined criteria including catchment area of approximately 75,000 people within a 30-minute drive and minimum 20,000 cars per day for drive-thru sites. The company has developed a standardized building design ("standard house") and formalized unit economics targeting 13% restaurant-level EBITDA margin and 5% operating margin at the company level. NSP Academy provides internal training for supervisors and restaurant managers.

NSP was originally listed on NASDAQ Stockholm (SmallCap, ticker NSP), having progressed from NGM Equity in 2005 to First North in 2006 to NASDAQ Stockholm in 2008. In 2016, the company was acquired by Etib Holding II AB and transitioned to private ownership; subsequent reporting frequency has reduced to non-public channels. The 2024 $32.3M financing from Avenue Capital Group is the most recent capital event. The legal group structure consists of Nordic Service Partners Holding AB (publ) as parent, with Nordic Service Partners AB as the wholly-owned operating subsidiary.

Name

NSP

Legal name

Nordic Service Partners Holding AB (publ)

Website

https://nordicservicepartners.se

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

NSP operates Burger King, KFC, and TGI Fridays franchise restaurants in Sweden and Denmark, with approximately 80 units generating around 1.2 billion SEK in annual revenue. The company is privately held by Etib Holding II AB since 2016.

Ownership category

akta.pro rank

Product category

Quick Service Restaurants

NAICS

Limited-Service Restaurants (722513), Restaurants and Other Eating Places (72251), Restaurants and Other Eating Places (7225)

SIC

Retail-Eating Places (5812), Retail-Eating & Drinking Places (5810)

akta.pro primary industry

Corporate/Office Catering & Group Ordering Platforms (CRAFAFAJ)

akta.pro secondary industry

Direct-to-Consumer Meal Kit Subscriptions (CRAHAJAA)

Keywords

• Quick service restaurants
• Restaurant franchise operations
• Multi-unit franchisee
• Burger king franchise
• Kfc franchise

Headquarters

HQ city

Bromma

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Restaurant food and beverage sales: NSP generates revenue by operating Burger King, KFC, and TGI Fridays quick-service restaurants in Sweden and Denmark. The company drives approximately 80 restaurants total, selling food and beverages directly to consumers. Revenue is generated from walk-in customers, drive-thru, and delivery/takeaway orders at owned restaurant units.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

NSP operates as a multi-unit franchisee running approximately 80 quick-service restaurants across Sweden and Denmark under the Burger King, KFC, and TGI Fridays brands. The company generates revenue by selling food and beverages directly to consumers through owned franchise restaurants at drive-thru, city center, and shopping center locations. NSP also provides restaurant site selection, development, construction, staffing, and day-to-day operations management for its portfolio.

Product overview

NSP (Nordic Service Partners) operates as a multi-franchisee restaurant company managing three distinct restaurant brands: Burger King (approximately 70 restaurants in Sweden and Denmark), KFC (Kentucky Fried Chicken, approximately 20 restaurants in Sweden), and TGI Fridays (1 restaurant in Denmark). The company also operates NSP Academy, an internal training program for employee development. These brands are positioned in the Quick Service Restaurant (QSR) segment and casual dining, targeting customers seeking quick, affordable meals.

Differentiator

Problem solved

Functional benefit

Brands

• Burger King: American quick-service restaurant chain primarily selling hamburgers. NSP operates Burger King restaurants in Sweden and Denmark as the largest franchisee in the Nordic region.
• KFC (Kentucky Fried Chicken)
• TGI Fridays

Products and services

• Burger King Restaurants American fast food chain primarily selling hamburgers. NSP operates approximately 70 Burger King restaurants as the largest franchisee in the Nordic region, with locations in Sweden (44) and Denmark (17). Targets consumers seeking quick-service dining options at drive-thru, city center, and food court locations.
• KFC (Kentucky Fried Chicken) Restaurants American fast food chain specializing in chicken products, part of Yum! Brands with approximately 22,000 restaurants globally. NSP operates KFC restaurants in Sweden under franchise rights, targeting expansion of 6-8 new restaurants per year combined with Burger King.
• TGI Fridays Restaurant Casual dining restaurant chain operated by NSP in Denmark. Represents a casual dining segment diversification beyond QSR.

Quantifiable outcome

• Revenue of ~1.2 billion SEK with an EBITDA margin target of 9% and operating margin of 5%
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• KFC (Kentucky Fried Chicken)coreChannel Partner/ Reseller/ Distributor · 1 February 2014NSP signed a franchise agreement with Yum! Brands in February 2014 to operate KFC restaurants in Sweden. The first KFC restaurant in Sweden opened in November 2015. NSP currently operates approximately 20 KFC restaurants in Sweden, targeting continued expansion with a goal of 6-8 new restaurants per year for both brands combined.
• TGI FridaysminorChannel Partner/ Reseller/ Distributor · 1 January 2014NSP signed a franchise agreement with Yum! Brands in 2014 to operate TGI Fridays restaurants in Denmark. The first TGI Fridays opened on Strøget in central Copenhagen in 2015. NSP operates 1 TGI Fridays restaurant in Denmark, which represents a casual dining segment diversification beyond QSR.
• Burger KingcoreChannel Partner/ Reseller/ Distributor · 1 January 2004NSP has been a Burger King franchisee since 2004, operating Burger King restaurants in Sweden and Denmark. NSP is Burger King's largest franchisee in the Nordics. As of the available information, NSP operates approximately 44 Burger King restaurants in Sweden and 17 in Denmark. The total number of Burger King restaurants in Sweden is 114 and 35 in Denmark.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• AmRest Holdings: AmRest is one of Europe's largest multi-brand restaurant franchise operators, holding master franchise rights for KFC and Pizza Hut across Central/Eastern Europe and operating Burger King units in select markets. Like NSP, AmRest is a publicly listed multi-unit franchisee with a 9-11% EBITDA margin profile and an active new-store opening pipeline - directly comparable in business model and unit economics.
• SSP Group: SSP Group is a UK-listed operator of branded food and beverage outlets in travel locations (airports, train stations, highways) across 35+ countries. It is a multi-brand franchisee/concessionaire that licenses QSR and casual-dining brands - directly comparable to NSP's business model of operating global QSR brands under franchise/concession in defined geographies.
• Applegreen plc: Applegreen operates motorway service areas and travel plazas in Ireland, the UK, and the US, holding franchise rights for Burger King and other QSR brands within its sites. Comparable as a multi-unit franchisee that builds unit economics around high-traffic drive-thru/forecourt locations similar to NSP's core expansion strategy.
• McDonald's Sweden franchisees: McDonald's in Sweden operates through master franchisee structures that build and operate multiple company-owned and franchised units under a single QSR brand. They are direct comparables on unit economics, multi-unit operations, and Nordic site selection - the primary head-to-head competitor for drive-thru and food court locations.

Broad incumbents

• Restaurant Brands International (RBI): RBI is the parent franchisor of Burger King and the entity that grants NSP its franchise rights in Sweden and Denmark. RBI sets brand standards, royalty rates, and territorial strategy, and competes with NSP for global franchise allocation - making it both supplier and strategic counterpart.
• Yum! Brands: Yum! Brands owns KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill and is NSP's franchisor for KFC Sweden and TGI Fridays Denmark. Yum! is the counterparty for NSP's franchise agreements and a key determinant of NSP's expansion runway in KFC.
• Autogrill (now part of Areas): Areas (formerly Autogrill) is a global travel food and beverage operator running franchised QSR brands in airports and highways. Comparable to NSP as a multi-brand franchise operator with global QSR brand partners, though operating in travel-channel real estate rather than street/drive-thru retail.

Regional players

• Max Burgers: Max Burgers is Sweden's largest domestic QSR burger chain and Burger King's primary Swedish competitor. It competes directly for drive-thru and shopping center real estate and end-consumer visits across the same geographies where NSP operates its Burger King units.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/NSPAB

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments

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

Frequently asked questions about NSP