Dubai, United Arab Emirates – Ahead of incorporation, Shatranj Capital Partners (SCP), is pleased to announce the team of partners and advisors behind its’ MENA based Private Equity fund. SCP will be sector specific, focused exclusively on multi-unit franchise F&B. By leveraging its regional F&B expertise and global franchisor relationships, SCP will create value through operational excellence, enhanced governance, and digital innovation, while taking advantage of one of the most extraordinary F&B executive teams ever assembled.
SCP includes individuals whose pioneering F&B accomplishments in operations, brand building, and supply chain technology have been replicated globally. They have scaled F&B businesses in the US, MENA, Europe and Southeast Asia as entrepreneurs and as franchisors, building expansive networks and knowledge along the way. The SCP team is also represented by local M&A, investment banking, and Private Equity expertise.
The Managing Partners include Peter Schatzberg, Brandon Guthrie, Jeremiah Green and Patrick Speek.
Peter Schatzberg was the founder and former CEO of Sweetheart Kitchen (MENA). He is a 3x F&B founder and is widely recognized as the pioneer of the virtual kitchen business model. In MENA, he and the Sweetheart Kitchen team raised over $50mn in institutional funds to scale Sweetheart Kitchen to 22 units, $30mn in ARR, under 1% waste and over 500 employees in 36 months, despite COVID restrictions. By building high tech, process driven systems, his businesses have generated over $100mn in F&B sales across three continents. A former GE executive and graduate of Columbia Business School and London Business School, Peter sees large opportunities and builds the teams capable of executing a vision.
Brandon Guthrie is the former Wendy’s Head of Finance for APMEA. Heis an experienced international businessman known for driving profitable growth for global retail brands through strategic thinking, global fluency, and financial acumen. He has supported the growth of brands such as Melaleuca, Best Buy, Victoria’s Secret, Bath & Body Works, and La Senza. He spent a decade leading the international growth of Wendy’s in LATAM, MENA and ASPAC, growing the region 5x to 500 units while opening seven new markets and managing a $250mn P&L across 13 countries. He led the acquisition and merger of the Japanese First Kitchen brand, adding 60 units in 2 years, serving as the MD of Wendy’s First Kitchen business.
Patrick Speek is an executive with 30 years of experience across listed US multinationals including General Electric, Danaher, family businesses, and portfolio companies for P/E funds (EQT, Bain Capital, SK Capital, Altor). His experiences include the setup of $200mn of Greenfields in eight MEA markets; building shared services for Finance, IT, Procurement, Tax and Legal in MEA; business transformations in distressed assets for PE owned highly leveraged companies; executing 25+ acquisitions across 10+ geographies in a range of $10mn to $1bn valuation; creating tax efficient legal structures; raising debt in EMEA; and refinancing in South Africa with a 50% improvement on rates/terms.
Jeremiah Green is a former CEO, CTO and Operating Partner in Private Equity. He is skilled in commercial investment, capital raising, and optimizing operations through technology. He spent time in a wide variety of early stage and Private Equity environments evaluating investments and sourcing deals. In the last 10 years Jeremiah has raised over $100mn in equity and debt in multiple roles at private companies in a diverse set of industries, including F&B. In his last role he helped raise equity capital and led the team that grew revenue by 650% over a 3-year period. He is a former CPA and has worked at Ernst & Young, KPMG, a Valor Equity fund company and a closely held Private Equity fund.
Once formed, the SCP fund will be supported by advisors who are globally recognizable F&B franchise executives including; Larry Kruguer,former global COO of Wingstop; Jason Marker, former President, KFC, US and former CEO of CKE (Carl’s Jr. & Hardees); John Pain, former Managing Director of Wendy’s International and former Vice Chairman for KFC Philippines and Canada; Joel Silverstein, former CEO of Outback Steakhouse, ASPAC and former Board Member of KFC, Japan; and Brittain Ladd, a logistics and supply chain global thought leader.
SCP advisors also include regional experts Mohammed Al Madani, Chairman & CEO of the Al Madani Group of companies; Micah Phelps, Private Equity Investor at QIA; Saim Korlu, Managing Director at Prospera Capital Partners; David Huesser, former real estate executive with Al-Futtaim, Nakheel, and Apparel Group; and Marcus Potter, Managing Partner at Circulus ME.
Mohammed Al Madani comments, “I believe SCP will attract foreign investment outside of Oil & Gas to the region. Top global talent will be attracted to MENA in both the F&B and investment sectors, much like Private Equity has done successfully in the USA. Their corporate expertise and operational sophistication will be shared broadly across the region, helping us improve and advance as a business community.”
Jason Marker shares, “From my experience as former CEO of CKE Restaurants (parent of Carl’s Jr. & Hardees) and VP Global Marketing for KFC, I can confidently say that SCP’s combination of industry expertise and focus on this attractive sector in an emerging market is a compelling recipe for success in MENA. Their emphasis on operational excellence over financial re-engineering is the right model in a volatile interest rate environment, and the recent MENA IPO activity and attractive F&B valuations only serve to bolster their thesis.”
Once formed and at scale, SCP will contribute to the regional goal of diversification away from Oil & Gas. SCP will attract global talent to MENA from both the F&B and asset management sectors, and the expertise within the fund and brands will contribute to the broader development of human capital in the region. The fund plans to attract foreign direct investment to MENA, leveraging the global relationships it possesses in both F&B and asset management. SCP will adhere to global standards in corporate governance, operational excellence, and regulatory compliance, all while introducing exciting iconic brands to the consumers of the region.
