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02/2024MajorityLBO

Mcwin Capital Partners takes majority stake in Sticks’n’sushi

DENMARK Hospitality & Leisure / Hospitality / Restaurants / Chains EV €50–150M

Context

The acquisition of Sticks’n’Sushi by McWin Capital Partners is structured as a control‑oriented acquisition, with McWin securing a majority stake in the business while retaining the existing management team and brand identity. At the time of the transaction, Sticks’n’Sushi operates 27 restaurants across the UK, Denmark, and Germany , illustrating a multi‑market, mid‑market platform that has extended its footprint from its core Danish base to the UK and Germany over many years. McWin positions the transaction as a strategic add‑on to its existing restaurant portfolio, leveraging its scale, sector expertise, and cross‑brand resources to support further expansion in the UK and Germany, two markets where Sticks’n’Sushi is still relatively nascent. The sponsor highlights the resilience of Sticks’n’Sushi through recent cost headwinds, the quality of its leadership, and the structural tailwinds in the sushi category (female‑friendly, family‑friendly, and suited for business and leisure occasions). The investment underscores McWin’s opportunistic strategy: seeking high‑performing concepts and teams that can scale, with a strong emphasis on unit economics, brand strength, and leadership quality.

By taking control of Sticks’n’sushi, Mcwin Capital Partners continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Big Mamma in 2023.

Sticks’n’sushi, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.

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Target

Sticks’n’Sushi is a Danish‑founded, upscale Japanese‑style restaurant group specializing in premium sushi, yakitori, and other Japanese small plates, positioned in the mid‑ to upper‑casual dining segment. The brand is culturally embedded in Denmark, where it is considered an “institution” with a long‑standing, highly loyal customer base and strong brand recognition. The group has successfully expanded beyond its home market, operating a portfolio of 27 restaurants across the UK, Denmark, and Germany, with a focus on high‑quality ingredients, curated interiors, and a versatile day‑part mix (from casual weeknight dinners to group dining and business occasions).

Ent. Value

€50–150M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€50–100M
€5–25M
[members only]
2023
€50–100M
€5–25M
[members only]

Other operations with Mcwin Capital Partners

Other operations with Mcwin Capital Partners
DateAcquirerTargetCountrySector
09/2025MCWIN CAPITAL PARTNERSFLAT IRONUNITED KINGDOMRestaurants / Chains
09/2023MCWIN CAPITAL PARTNERSBIG MAMMAFRANCERestaurants / Chains
01/2023MCWIN CAPITAL PARTNERSL’OSTERIAGERMANYRestaurants / Chains

Similar deals in Hospitality & Leisure

Similar deals in Hospitality & Leisure
DateAcquirerTargetCountrySector
07/2024PIPERMARTIN RANDALL TRAVELUNITED KINGDOMTour Operators
03/2024COMPAGNIE DES ALPESGROUPE URBANFRANCELeisure Facilities
01/2024BASIC-FITRSG SPAINSPAINLeisure Facilities
12/2023SHAMAL HOLDINGSUSHISAMBA GROUPUNITED KINGDOMRestaurants / Chains
12/2023PUBLIC INVESTMENT FUND PIFROCCO FORTE HOTELSUNITED KINGDOMHotels & Accommodation
11/2023GENERAL ATLANTICJOE & THE JUICEDENMARKRestaurants / Chains
10/2023LOV GROUPANGE BOULANGERIEFRANCERestaurants / Chains
10/2023CALVETON / BREAL CAPITALTHE EVOLV COLLECTIONUNITED KINGDOMRestaurants / Chains
09/2023MCWIN CAPITAL PARTNERSBIG MAMMAFRANCERestaurants / Chains
09/2023PARADIESTASTES ON THE FLYUNITED STATESRestaurants / Chains

REFERENCES

Valuation range: EV €50–150M

Revenue range: €50–100M

EBITDA range: €5–25M

EV/Revenue range: below 1.5x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Sticks’n’sushi by Mcwin Capital Partners are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: sticks’n’sushi

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Sticks’n’sushi, a Danish company specialised in Hospitality, by Mcwin Capital Partners in 2024, structured as a leveraged buyout (LBO).

How was the acquisition of Sticks’n’sushi by Mcwin Capital Partners valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €50–150M band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What were Sticks’n’sushi’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Sticks’n’sushi generated annual revenue estimated in the €50–100M range and EBITDA in the €5–25M bracket (FY 2024). Detailed financial figures are available to members.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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