Thai restaurant company Koh Group, based in Dorset, has undergone a management buyout backed by private equity firm Alcuin Capital Partners.
The company now aims to grow further with equity invested by Alcuin alongside development capital to support its future rollout. It will continue to be led by existing CEO Andrew Lennox. Earlier this year the company said it was targeting 40 sites either open or in the pipeline by 2021.
Founded in Bournemouth in 2009, Koh Group has 12 restaurants in Dorset, Wiltshire, Somerset and Hampshire.
The deal completed on 29 November this year and sees Lennox and Alcuin buying out the existing shareholders, Nick Billingham, James Hampton, Lucy Morton-Haworth, and Alex Plaisted, with Lennox and the management retaining a controlling interest in the business.
The deal sees the appointment of Paul Lilley as the group's CFO. Lilley has previously worked for the likes of Busaba Eathai, Drake & Morgan and Burger & Lobster.
Sophie Cox has been promoted to chief operating officer (COO) and will continue to run the operational side of the business as she has done for the last two years.
Andy Lennox said: "This deal is the culmination of many years of hard work by the company and positions us perfectly for the next phase of growth. Alcuin have already been an invaluable asset and we are really looking forward to building on the great working relationship we already have with them. For the next stage of growth, we have a brilliant company backing us in Alcuin, a war-chest for development and growth, a passionate management team, 12 thriving restaurants, almost 300 loyal staff and many thousands of loyal customers.
Following years of dedication by the team this really is a great opportunity for the business and we are incredibly excited about the future".
Adrian Lurie, Alcuin Capital Partners, added: "Andy and his team have built an excellent brand and we are excited by the opportunity to support the team in the coming years to build on this excellent foundation."
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