THE boss of the Koh Group – owner of the expanding Koh Thai Tapas chain of restaurants – has led a management buyout.

Chief executive Andrew Lennox was backed by equity finance in buying out the other partners who co-founded the business at Boscombe in 2009.

Equity funder Alcuin Capital Partners will also provide development capital for opening more restaurants. It has previously invested in leading leisure brands including London-based restaurant group Salt Yard, Caffe Nero and Krispy Kreme UK.

Wallisdown-based Koh runs 12 restaurants in Dorset, Hampshire, Wiltshire and Somerset. It was named Eat Out’s Brand of the Year 2016.

The buyout sees Paul Lilley appointed chief financial officer. He previously worked with Busaba, Drake & Morgan and Burger & Lobster. Sophie Cox is promoted internally to chief operating officer.

Mr Lennox said: “This deal is the culmination of many years of hard work by the company and positions us perfectly for the next phase of growth.

“Alcuin have already been an invaluable asset and we are looking forward to building on the great working relationship we have with them. For the next stage of growth, we have a brilliant company backing us in Alcuin, a war-chest for development and growth, a passionate management team, 12 thriving restaurants, almost 300 loyal staff and many thousands of loyal customers.

“Following years of dedication by the team, this really is a great opportunity for the business and we are incredibly excited about the future.”

Adrian Lurie of Alcuin Capital Partners said: “Andy and his team have built an excellent brand and we are excited by the opportunity to support the team in the coming years to build on this excellent foundation.”

Exiting shareholder James Hampton said: “On behalf of Nick Billingham, Lucy Morton-Haworth, Alex Plaisted and myself, I’d like to express gratitude for the exhilarating and fulfilling experience that we, as a board had on this journey at Koh.

“What started as a restaurant concept in my mind has in seven short years grown up to be a fully-fledged group on the cutting edge of the casual dining market under the leadership of our co-founder and CEO Andy Lennox; under this guidance, it is now time for Koh to transition, entering the next chapter and we have absolute confidence in the combined talent of the executive management team as they continue to drive the business onwards.

“We look forward to witnessing the brand we all started, achieving incredible brand recognition. The people we’d wish to warmly thank are too numerous, but suffice to say, we are grateful for every customer, every employee, reviewer, friend and supporter we’ve met along the way. It would not, and could not, have been the same without you.”

Patrick Booth-Clibborn, CEO and founder of Marechale Capital plc, who advised Koh on the deal, said: “We are fortunate to have advised and financed some of the UK’s leading premium casual dining management teams and premium brands. Andy and his team and the Koh brand very much tick these boxes and we are delighted to have helped Andy manage the process and agree terms with Alcuin.”