Rosa’s Thai Cafe sells majority stake to private equity firm: Thai restaurant group Rosa’s Thai Cafe, set up by husband-and-wife team Saiphin and Alex Moore, has sold a majority stake to private equity firm TriSpan. Rosa’s Thai Cafe managing director Gavin Adair will lead the group in its next phase of growth. He will be supported by Robin Rowland, former YO! Sushi chief executive and TriSpan European operating partner, who will join the board in the role of non-executive chairman. The Moores will remain involved in the business, respectively focusing on the group’s culture and innovation and driving food quality. 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 Thai Cafe is TriSpan’s debut European market deal and joins two “polished casual” restaurant investments completed in the US in the past nine months – Yardbird and Rosa Mexicano. Saiphin, who grew up in Khao Kho, northern Thailand, and Alex opened the first Rosa’s Thai Cafe in Spitalfields in 2008 and the group now has 13 sites with three openings scheduled for 2018 – Tower Bridge; Bluewater shopping centre, Kent; and Liverpool’s Albert Docks. The group has increased sales more than 45% per annum in the past two years. Alex Moore 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.” Adair added: “This investment with like-minded partners allows us to do what we always wanted to do –serve more of our great Thai food to more people. I’m thrilled our founders will remain actively involved in the next stage of our journey and look forward to working with them, the wider management team and TriSpan to build on everything the Rosa’s family has achieved.” The Rosa’s Thai Cafe transaction was led by TriSpan team members Jurriaan van der Schee, head of European private equity, and partner Joseph-Patrick Dib. They said: “The TriSpan team has been tracking Rosa’s Thai Cafe for some time given its authenticity, solid financial performance, health-orientation and support for multi-channel/multi-format growth. We believe Rosa’s Thai Cafe is arguably the most authentic group of branded Thai restaurants in the UK. We feel passionate about it and are excited to support the founders and the management team in their journey ahead.” Rowland added: “I am delighted the founders will remain involved with this terrific growth business and I look forward to partnering with Gavin Adair and the rest of the brilliant management team for the next chapter of growth.” The terms of the transaction were not disclosed.