Capdesia Group
Capdesia Group is a London-based private equity firm exclusively focused on European branded restaurant chains, providing €15-150 million in flexible capital and operational support to expansion-stage QSR, fast-casual, casual dining and specialty concepts. Its active portfolio includes Wasabi, GAIL's, Franco Manca, The Real Greek, and Alice Pizza.
- Company typePrivate
- Founded2009
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Capdesia Group does
Capdesia Group is a London-based private equity firm (Capdesia Group Limited), founded circa 2009 by Niels Lorijn and Chris Unrath — who previously co-founded US restaurant investor CapitalSpring in 2005 — together with H. Ashton Crosby and Abe Matamoros. The firm is exclusively focused on European branded restaurant chains and has been investing in the sector for over 15 years, deploying US$1.3 billion of equity and debt across more than 70 restaurant companies, 46 brands, and 3,600+ stores with a reported combined 34.3% (3.0x) IRR on equity investments since 2003.
The firm operates a single investment platform that provides flexible capital solutions in the €15-150 million range, taking both minority and majority positions through equity and debt structures, alongside hands-on operational support. Active portfolio companies include Wasabi Sushi & Bento (UK/US grab-and-go), GAIL's Artisan Bakery (UK bakery chain), Franco Manca (UK Neapolitan sourdough pizza, acquired with Toridoll Holdings via the £93.4m take-private of The Fulham Shore plc in July 2023), The Real Greek (UK Mediterranean casual dining, also via Fulham Shore), and Alice Pizza (Italy's largest fast casual pizza chain, 231 sites, acquired June 2026 with Quadrivio & Pambianco). Marugame Udon Europe was a prior joint venture with Toridoll Holdings, exited in June 2024. Operational support is delivered by 16 investment and operations professionals averaging 20+ years of PE and restaurant chain experience, with functional expertise spanning operations, marketing, store development, supply chain, food development, restaurant engineering, digital, and technology — drawn from Starbucks, McDonald's, Domino's, Pizza Hut, Burger King, Yum! Brands, Krispy Kreme, AmRest, Five Guys, Nando's, TGI Fridays, and other operators.
The business model generates revenue through private equity returns on capital appreciation across restaurant chain investments, supplemented by management fees and carried interest typical of the asset class. Capdesia originates and executes deals through direct investment relationships, joint ventures (notably with Toridoll Holdings), co-investments with financial partners (Bain Capital Credit, Quadrivio & Pambianco, EBITDA Investments), and master-franchisor structures that facilitate international brand entry into European markets. The firm has offices in London (HQ) and Brussels, with stated operational reach across the UK, Italy, France, Spain, Malta, Belgium, Hong Kong, Japan and the US through its portfolio.
Capdesia Group firmographics
Firmographics- Name
- Capdesia Group
- Legal name
- Capdesia Group Limited
- Website
- https://capdesia.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Capdesia Group is a London-based private equity firm exclusively focused on European branded restaurant chains, providing €15-150 million in flexible capital and operational support to expansion-stage QSR, fast-casual, casual dining and specialty concepts. Its active portfolio includes Wasabi, GAIL's, Franco Manca, The Real Greek, and Alice Pizza.
- Ownership category
- akta.pro rank
Capdesia Group industry classification
Industry- Product category
- Restaurant Sector Private Equity Investment
- NAICS
- Portfolio Management and Investment Advice (523940), Management of Companies and Enterprises (55111)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Small-Cap / Micro-Buyout (FSANABAD)
- akta.pro secondary industry
- Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)
Keywords
Where Capdesia Group is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Capdesia Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Private Equity Returns: Capdesia generates returns through capital appreciation from investments in restaurant chains. Their track record shows combined IRR of 34.3% (3.0x) on equity investments and 11.2% (1.4x) on debt investments since 2003.
- Investment Management: Provides creative capital solutions to restaurant chains including buyouts, add-on acquisitions, recapitalisations and international expansion support. Invests €15-150 million over the life of an investment.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels4 records
Capdesia Group product offering
Product offeringCore offering
Capdesia Group is a private equity firm exclusively focused on European branded restaurant chains, providing tailored capital solutions (€15–150 million per investment over 5–7 years) and operational expertise in support of buyouts, add-on acquisitions, recapitalisations, and international expansion. The firm takes minority or majority positions using a mix of equity and debt, targeting expansion-stage restaurant concepts with at least 10 sites and revenues up to €250 million. It supplements capital with hands-on support across business optimisation, store development, operations, marketing, supply chain, technology implementation, and international franchise expansion.
Product overview
Capdesia Group is a European private equity firm exclusively focused on the foodservice sector. The company operates as a single unified investment platform offering flexible capital solutions (€15-150 million per investment) alongside deep operational expertise to restaurant chains. The portfolio includes Wasabi Sushi & Bento (healthy Japanese grab-and-go), GAIL's Artisan Bakery (UK's leading artisan bakery chain), Franco Manca (sourdough fast-casual pizza), The Real Greek (Mediterranean casual dining), and Alice Pizza (Italian fast casual pizza). Marugame Udon was a previous investment that was successfully exited in 2024. The firm also provides operational support through 16 investment and operations professionals with expertise across business optimization, store development, operations, marketing, international expansion, and technology.
Differentiator
Problem solved
Functional benefit
Products and services
- Capdesia Investment Platform Private equity investment platform exclusively focused on European branded restaurant chains, providing tailored capital solutions (€15–150 million over 5–7 years) and operational expertise in support of buyouts, add-on acquisitions, recapitalisations, and international expansion for restaurant operators with at least 10 sites and revenues up to €250 million.
- Wasabi Sushi & Bento (Portfolio Investment) Healthy Japanese sushi and bento chain with approximately 44 stores in the UK and 3 in NYC, offering fresh, authentic, affordable Japanese cuisine and a home bento range in Sainsbury's and Tesco stores; operated as a Capdesia portfolio company.
- GAIL's Artisan Bakery (Portfolio Investment) Leading UK artisan bakery chain and vertically integrated manufacturer of premium craft baked goods operating 120 neighbourhood bakeries in London, Oxford, Brighton and beyond, serving handmade bread, pastries, cakes and specialty coffee; operated as a Capdesia portfolio company.
- Franco Manca (Portfolio Investment via Fulham Shore) Neapolitan fast casual sourdough pizza chain with 72 sites across the UK, offering a simple authentic menu with fast service at affordable prices; pizzas are prepared fresh daily from sustainably sourced ingredients; operated as a Capdesia portfolio company through Fulham Shore plc.
- The Real Greek (Portfolio Investment via Fulham Shore) Authentic Greek food restaurant chain founded in 1999 with 27 UK locations serving sharing plates, meze, souvlaki wraps and dishes created with celebrity chef Tonia Buxton using premium ingredients from Greece and Cyprus; operated as a Capdesia portfolio company through Fulham Shore plc.
- Alice Pizza (Portfolio Investment) Italian fast casual pizza chain founded in Rome in 1989 specialising in traditional Roman pizza by the slice, with a network of 231 sites (220 in Italy and 11 internationally across Hong Kong, France, Spain, Malta, and the USA); 2025 system sales exceeded €115 million with EBITDA of €12.6 million; operated as a Capdesia portfolio company.
Quantifiable outcome
- 34.3% combined IRR (3.0x) on equity investments and 11.2% (1.4x) on debt investments since 2003
- +2 more outcomes
Companies that use Capdesia Group
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Capdesia Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Capdesia Group partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Toridoll Holdings Corporation (Marugame Udon)corePartnership to develop Marugame Udon across Europe. Capdesia formed joint venture to become master franchisor for UK and Europe region. Keith Bird, Capdesia Operating Partner, served as CEO of Marugame Udon Europe.
Scale indicators14 records
Recent moves7 records
Expansion highlights6 records
Capdesia Group competitors and assessment
Company assessmentBroad incumbents
- Bain Capital Private Equity: Global private equity firm with consumer/restaurant exposure (Domino's, Burger King historically). Co-invested with Capdesia in GAIL's, making it directly comparable as a co-investor while operating across many sectors at larger scale.
- CVC Capital Partners: Large European private equity firm with consumer brand investments including Pizza Express, The Restaurant Group. Comparable to Capdesia through European restaurant exposure and co-investment relationship (CVC Funds vehicle Pergolesi in Alice Pizza).
- Lion Capital: London-based private equity firm focused on consumer brands including food and beverage. Comparable to Capdesia in European consumer brand investing but operates across broader consumer categories including fashion, beauty, and food.
Emerging players
- NewSpring Capital: US lower middle-market private equity firm with restaurant franchise and consumer brand exposure. Comparable to Capdesia in deal size and sector tilt but operates in a different geography and slightly broader consumer mandate.
- Quad-C Management: US lower middle-market private equity firm focused on consumer, including restaurants and food service. Comparable to Capdesia through mid-market restaurant deal focus and operational value-add approach, though primarily US-focused.
Direct peers
- Argonne Capital Group: Atlanta-based private equity firm exclusively focused on branded restaurant companies. Direct peer to Capdesia given shared sector specialization in restaurant chains, multi-brand platform building, and operational value-add approach.
- Trinity Hunt Partners: US lower middle-market private equity firm focused on consumer and services companies including restaurants. Comparable to Capdesia through sector specialization, deal size range, and operationally-focused investment approach.
- Roark Capital Group: US-based private equity firm specializing in restaurant and consumer franchise brands (owner of Inspire Brands, Buffalo Wild Wings, Subway). Highly comparable to Capdesia as a franchise/restaurant sector specialist with similar mid-market to large-cap deal focus.
- Brentwood Associates: US private equity firm focused on consumer products and restaurant chains. Comparable to Capdesia through its restaurant sector exposure, lower middle market focus, and operational value-creation playbook.
- Elaghmore: UK-based private equity firm focused on consumer brands and specialty retail/F&B. Comparable to Capdesia in European geography, mid-market deal size, and sector specialist approach to consumer-facing businesses.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Capdesia Group social profiles
Digital presenceCapdesia Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Capdesia Group leadership team
Management profileNumber of profiles
Profiles16 records
Capdesia Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Capdesia Group M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Capdesia Group
What does Capdesia Group do?
Capdesia Group is a private equity firm exclusively focused on European branded restaurant chains, providing tailored capital solutions (€15–150 million per investment over 5–7 years) and operational expertise in support of buyouts, add-on acquisitions, recapitalisations, and international expansion. The firm takes minority or majority positions using a mix of equity and debt, targeting expansion-stage restaurant concepts with at least 10 sites and revenues up to €250 million. It supplements capital with hands-on support across business optimisation, store development, operations, marketing, supply chain, technology implementation, and international franchise expansion.
Is Capdesia Group a public or private company?
Capdesia Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Capdesia Group founded?
Capdesia Group was founded in 2009. It employs 1 to 10 people.
Where is Capdesia Group based?
Capdesia Group is headquartered in London, United Kingdom, in the Europe region.
How does Capdesia Group make money?
Two revenue lines are on record. Private Equity Returns are the primary driver. The others are investment Management.
Who are Capdesia Group's main competitors?
Broad incumbents on record are Bain Capital Private Equity, CVC Capital Partners and Lion Capital. Emerging players are NewSpring Capital and Quad-C Management. Direct peers are Argonne Capital Group, Trinity Hunt Partners, Roark Capital Group, Brentwood Associates and Elaghmore.
Does Capdesia Group have an API?
No public API is recorded for Capdesia Group.
What industry is Capdesia Group in?
Capdesia Group's product category is Restaurant Sector Private Equity Investment. Its primary akta.pro industry code is FSANABAD, Small-Cap / Micro-Buyout, with a secondary code of FSANADAJ, Large-Cap / Sponsor Finance Direct Lending. Its NAICS code is 523940 and its SIC code is 6282.