Private Equity Firm Quilvest has completed its sale of Japanese restaurant chain Yo! Sushi to Mayfair Equity Partners, a mid market private equity firm led by Daniel Sasaki.
Valued at £81m the deal will see Quilvest completely exist the business having bought the restaurant group in 2008 and transforming it completely with net revenues almost tripling and recording a compound annual growth rate of 14%.
The deal marks Mayfair's fourth acquisition since being established by Sasaki earlier this year. It has already backed domestic energy supplier Ovo Energy, fishing brand Fox International and tour operator Hotels & More.
Daniel Sasaki, said: “In a highly competitive and fast moving segment of the market, Yo! Sushi’s innovative approach to casual dining has seen it consistently deliver fantastic eating experiences to a truly global customer base. The management team has built a robust and dynamic company with a fantastic brand.'
Robin Rowland of Quilvest said: 'In Mayfair we’ve found the right partner to support YO! Sushi through its next stage of development. Yo! Sushi offers an accessible, fun and healthy eating out experience no matter when and what the meal occasion. This presents us with significant further growth both in the UK and internationally, and we look forward to working with Daniel and the team to fulfil this potential.'
Yo Sushi! was founded in 2997 by entrepreneur Simon Woodroffe. It has since gone to serve more than seven million customers a year via 91 restaurants worldwide: 75 across the UK, four in the US and 12 franchised restaurants in international airports and the Gulf.