CSFC Management-aligned CapitalSpring Investment Partners VII LP filing with the SEC on Aug. 8 shows target-$1BN raise that would fund transactions involving multilocation restaurant/food service groups, and other branded companies operating in ecosystems that include technology, carwashes, fitness, automotive, and other offerings.
Richard Fitzgerald MBA, a native Nashvillian, leads the firm he cofounded from its flagship office, on Nashville's West End Avenue.
CapitalSpring Investment Partners V and VI raised $725MM and $950MM, respectively.
In a previous SEC filing of the firm's current brochure, CSFC-Capital Spring showed $2,717,012,204 in assets under management as-of Dec. 31, 2024.
The firm's website says its investments typically range $10MM to $150MM or more for "companies across a broad range of transaction scenarios and at all different stages of growth – from emerging business models to large international franchises."
CSFC is said to have completed more than 300 investments across over 90 different brands and franchises since its inception 20 years ago.
VNC research indicates CapitalSpring funds invested north of $250MM in Tennessee-based businesses, during 2017-2022.
In 2022 CapitalSpring acquired local Peak Restaurant Partners and its interest in Southern Rock Partners, which remains based in Franklin, outside Nashville.
Southern Rock's website today depicts the company's 163 store locations -- many within a five-hour drive of Nashville.
SEC data online show that CapitalSpring has made SEC advisor notices in Tennessee, New York, California, Georgia and Texas.
CSFC Management's umbrella also spans Tampa-based FSC Franchising Co., of which CSFC acquired in 2017 and which now holds controlling interest in such businesses as Jackson, Miss.-based Newk's Eatery.
CapitalSpring's sector focus includes "multi-unit businesses as well as companies in the consumer, business services, manufacturing and technology sectors [and] can make investments across the capital structure, from senior loans to control acquisitions, and in both growth-stage and mature businesses," according to a profile of Managing Director Kaivon Abrishami, based in El Segundo, Los Angeles County.
CapitalSpring's recent acquisition of 60-year-old Anaheim-based Coast Sign LLC makes clear that CapitalSpring's purview is "the broader multi-location ecosystem," in which food service other retail end-markets are connected to such ancillary segment as "restaurants, hotels, retail, financial services, mobile carriers, pharmacy and health, entertainment and other franchised and independent brands," as explained in a related press release.
CSFC CapitalSpring traces its origins to just ahead of the Great Recession. Later, it helped guide its businesses through the worst of the COVID-19 pandemic.
More recently, CapitalSpring noted in the corporate brochure it filed with the SEC that one of its newer potential challenges in the market is consumer adoption of Ozempic and similar weight-loss and appetite-reduction treatments.
There's also the possibility of growing disruption -- broken supply chains, rising operational costs, shrinking margins -- in the face of currently fluctuating tariffs and reciprocal tariffs on foodstuffs and related goods and services.
Resources -- Fitzgerald on PE (podcast) | Tariffs 1 | 2 | 3 Appetites 4 | 5 | VNC
.last edited 1730 11 August 2025
