Najm CapitalNajm Fund I + Co-InvestGCC growth equity, infrastructure, and strategic buyouts · Q1 2026 reporting
3
K. Al Rashidi · Director
KR
All positions
Americana Restaurants
On thesisQSR & Food Service·Take-Privates & Control Platforms·Control Buyout·Invested 2021·6% stake
Position
Mark1.31x
Gross IRR8%
Invested$180M
Q3 movement:+$95M·KSA same-store sales +12% · loyalty app relaunch ahead of plan · digital transformation milestone hit
LatestNo recent touchpoints recorded.
Next board:2026-05-06
Ownership + team
6% stake · 1 board seatCommon equity · co-invest with Adeptio / Nasser Al Kharafi Group
MENA QSR franchise group · 1.31x mark · KFC, Pizza Hut, Hardee's master franchisee · operating leverage from digital ordering and delivery channel
Ask about Americana Restaurants · pulls from SharePoint memos + Snowflake fund DB + firm memory
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Financial profileLatest as of 2026-03-31
Revenue$1.45BLTM Q1 2026 · +14% YoY
EBITDA margin17%Up from 14% at buyout
MOIC1.31x$1.8B entry → $2.35B mark
Restaurant count2,120+13 countries · up from 1,850 at entry
Three-way benchmark
Revenuemeasured in $M
Actual
Thesis target
VCP plan
Peer median
Performance update
Revenue $1.45B LTM · +14% YoY · KSA growing 18% YoY · new secondary-city openings on schedule
Digital ordering 41% of total orders · own-channel mix reducing third-party commission drag
EBITDA margin 17% · +300bps from buyout entry · cost discipline + channel shift driver
New restaurant openings: 270 in 2025 · on track for 300 in 2026 · Saudi focus