Portfolio: Private Equity: Current

Rosa's Thai Cafe

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Connection Capital coinvested alongside TriSpan to fund the MBO and provide growth capital to expand this Thai restaurant group.

Investment highlights

  • Date of investmentMay 2019
  • SectorLeisure and hospitality
  • Investment typeMBO
  • Investment size£22m from TriSpan and syndicate
  • Employees500+
  • StatusLive

The company

Rosa’s is a Thai casual dining chain, which on MBO had 13 sites in London serving eat in and take away customers.

Investment rationale

Rosa’s is a popular and successful restaurant group with a professional management team, which sought to undertake a MBO from the founders who had established the company in 2008. The business has a strong business model showing very good return on investment in new sites and matched consumer demand for fast casual, healthy, Asian food.

The goal of the investment was to secure a sensibly priced MBO and roll out restaurants across the UK.

Progress since investment

As of December 2022, Rosa’s now has 32 sites, including Manchester, Liverpool, Leeds, Bath, Wimbledon and Reading plus two takeaway venues.

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