TriSpan, a global private equity firm, has announced that Rising Stars, its restaurant platform, has acquired a majority investment in Rosa’s Thai Cafe.
Rosa’s managing director Gavin Adair will lead the group in its next phase of growth.
He will be supported by Robin Rowland, former YO! CEO and TriSpan European operating partner, who will join the board in the role of non-executive chairman.
Rosa’s founders Alex and Saiphin Moore will remain involved in the business, focusing on the group’s culture and innovation and driving food quality respectively. A significant number of employees at every level within the group will have their stock options partially realised and will reinvest with TriSpan.
Collectively, the partners of TriSpan have invested in more than 20 restaurant groups globally.
Rosa’s brand was born from co-founder Saiphin’s passion for authentic Thai food. Saiphin, who grew up in Khao Kho, northern Thailand.
Alex opened the first Rosa’s Thai Cafe in Spitalfields in 2008 and the group now has 13 sites with three new openings scheduled for 2018 (Tower Bridge, Bluewater shopping centre, Kent and Liverpool’s Albert Docks).
The group has recently been ranked as one of the top three fastest-growing restaurant chains in the MCA/AlixPartners Growth Company Index 2017, increasing sales over 45% per annum in the last two years. In the same year it won Brand of the Year at the national Eat Out Awards.
Alex Moore, Co-Founder, Rosa’s Thai Café, said: “We set up Rosa’s Thai Cafe to be a progressive, responsive and thoughtful group of restaurants and we’re really proud that has stood us in such good stead.
“This is an exciting new partnership for the group and since joining last year Gavin has developed excellent strategies to support our future aspirations. Saiphin will remain a constant influence in the kitchens, and I look forward to focusing on maintaining the ethos and fairness that are the foundations of the business.”