OakNorth completes first pan-European deal with Β£22m loan to Sticks n Sushi to support its growth.
Β OakNorth,Β the digital bank for entrepreneurs, by entrepreneurs,Β has provided a Β£22m loan to Japanese premium restaurant group,Β Sticks n Sushi, to support its future growth.
The business has been acquired by leading private equity firm,Β McWin Capital Partners. McWin is a sector specialist with stakes in a number of chains, including: Gailβs Bakery, Popeyes, Big Mamma, Vapiano, and Burger King Germany to name a few.
About Sticks’n’Sushi: Founded in Denmark in 1994 by brothers Jens and Kim Rahbek and Thor Andersen, the group has successfully scaled to 27 restaurants β 12 in Copenhagen, 12 across the UK, and three in Berlin making this OakNorthβs first pan-European transaction. It opened its first restaurant in the UK in Wimbledon in 2012, and the UK is now the groupβs largest market in terms of turnover, with its 13thΒ UK restaurant due to open in Richmond in May. The groupβs CEO, Andreas Karlsson, joined in 2011 as its operations director, and was promoted to CEO in 2019. He has more than 36 yearsβ experience in the industry having led the global roll out of Wagamama.