Alcuin Capital backs MBO of Koh Group

Mikkel Stern-Peltz
30 November 2016

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Alcuin Capital Partners has invested in the management buyout of Dorset-based Thai food restaurant chain Koh Group.

Alcuin told unquote" it had used the 2015-vintage £150m Fourth Alcuin Fund for equity in the transaction, which comprised both buyout and development capital. No debt was used in the transaction, the GP said.

Koh CEO Andrew Lennox and the management team led the MBO, which bought out existing shareholders. Alcuin will become a minority shareholder after financing the buyout, with Lennox and management becoming majority owners.

As part of the transaction, former Busaba, Drake & Morgan and Burger & Lobster executive Paul Lilley will join Koh as CFO, while Sophie Cox is promoted to chief operating officer. Alcuin's investment is intended to help Koh open new restaurant locations.

Click here to read an in-depth profile of Alcuin

Company
Headquartered in Dorset, Koh Group operates the Koh Thai Tapas chain of restaurants.

The company was founded in 2009 and consists of 12 restaurants across Dorset, Wiltshire, Somerset and Hampshire, employing a staff of around 300.

People
Alcuin Capital Partners – Adrian Lurie (partner).
Koh Group – Andrew Lennox (CEO).

Advisers
Equity – RSM (tax); Morgan Lewis (legal).
Vendor – Marechale Corporate Finance (corporate finance); Clark Holt (legal); Saffery Champness (tax).