Case Study: Koh Thai
- Deal size:
- Development Capital
Meridian advised restaurant brand and Thai tapas concept, Koh Thai Tapas, in a fundraise to support their expansion plans.
The Bournemouth-based business has received funds from Thin Cats’ peer-to-peer lending platform allowing it to expand its current portfolio with two further acquisitions. The first of these, in Clifton, Bristol, was successfully launched on 7 February 2014.
This leaves Koh on target to double its estate to eight sites by the end of 2014; it is envisaged that the expansion will be funded by further tranches from Thin Cats. Koh is looking to open sites across the South including Cardiff, Reading, Basingstoke and Winchester. It is already in negotiations for Oxford and Poole. Koh was launched in December 2009 by Andrew Lennox and James Hampton. They wanted to create a complete dining experience and saw a clear gap in the market for a Thai restaurant chain.
Koh’s first restaurant was opened in Boscombe in December 2009. It was an instant hit winning “Restaurant of the Year” in the Bournemouth Tourism Awards 2010. Following this success, three further restaurants have been opened in Bournemouth (December 2011), Southsea (December 2012) and, its first restaurant away from the South Coast, Bath (May 2013). All four restaurants have been a resounding success and currently trade at capacity.