McWin takes majority in Big Mamma

Italian food is our opening topic this morning, as McWin Capital partners takes a majority in Big Mamma, a restaurant group.

We then move to software, where Hg and Permira are reportedly exploring strategic options for their stakes in German software firm Personal & Informatik, according to Reuters.

To close, we have some more restaurant news. Mayfair Equity Partners has completed its $621 million exit from The Snowfox Group to Zensho Holdings.

Tasty deal

Starting off with the first of our restaurant news. McWin Capital Partners announced it has agreed to take a majority stake in Big Mamma, a restaurant group.

The long-term investment made from the McWin Restaurant Fund values the company at €270 million. Big Mamma’s restaurants make Italian food, but the company is headquartered in Paris and has 23 restaurants in France, the UK, Monaco, Spain and Germany.

Founders Tigrane Seydoux and Victor Lugger will continue to run the company as co-CEOs and will remain shareholders.

“Successfully crossing borders in our industry is never easy and they have done it four times, soon to be five,” said Harry Goss, partner and head of food service at McWin. “They understand what the customer wants, and they have been bold in their delivery.”

Big Mamma will leverage the partnership with McWin to expand from Europe to the Middle East and US, according to a release.

McWin has assets under management of over €1 billion and is based in London. The firm invests in the global food service and food technology sector.

Software

Switching to some potential software news. Hg and Permira are reportedly “exploring strategic options” for their stakes in German software firm Personal & Informatik (P&I), including a possible minority sale, three sources familiar with the matter told Reuters.

A deal could value P&I at more than €2 billion, said two of the people Reuters spoke to anonymously.

Wiesbaden-based P&I provides cloud-based HR software. Permira invested in the business in 2016. Hg’s Saturn Fund acquired a stake from Permira in 2019, with Permira funds retaining a “substantial” minority stake.

Other large private equity funds are interested in the company, the sources said, cautioning that deliberations remain at an early stage and that a deal is not certain.

Done deal

Back to restaurants. Mayfair Equity Partners announced it has completed its $621 million exit from The Snowfox Group to Zensho Holdings.

Snowfox is headquartered in London. It has four brands – Snowfox, Bento, Taiko and YO! in North America and UK. PE Hub Europe first reported on the exit in mid-June.

Mayfair first invested in YO! in 2015.