Mobeus serves up £2.5m Tapas deal
Mobeus Equity Partners has provided £2.5 million of growth capital to Tapas Revolution, a UK restaurant chain offering Spanish tapas cuisine that was founded by celebrity chef Omar Allibhoy.
The first Tapas Revolution restaurant opened in 2010 in Shepherd’s Bush, London, and on the back of this success, a second site was launched less than a year later in Bluewater. A further three restaurants have since opened in Shoreditch, Birmingham and Sheffield. The Mobeus investment is intended to support the roll out of additional restaurants with sites due to open in Newcastle in February and in Bath in April.
Whilst the overall UK casual dining market is well served, Tapas Revolution has established itself as one of the leading casual dining Spanish tapas restaurants. The offer is popular with landlords who value the point of difference that Tapas Revolution brings to the casual dining landscape.
Mobeus is backing a highly experienced team with significant expertise in the restaurant sector. Tapas Revolution is led by Mac Plumpton, Managing Director, who has previously held senior roles at Planet Hollywood Europe and Belgo, and Allibhoy, Culinary Director, who trained with famous chefs Ferran Adria and Gordon Ramsay. Allibhoy and Plumpton are supported by industry veterans Douglas Smillie and Ken Sanker, both non-executive Directors. Smillie’s experience includes My Kinda Town plc and Henry J Beans Group Ltd, while Sanker’s includes restaurant concepts such as Galvin, Chapters and Goodman Restaurants.
Mobeus was introduced to the deal by New World Corporate Finance.
Amit Hindocha led the deal for Mobeus and will join the board. He said: “We are excited to be working with Mac and Omar on the opening of more Tapas Revolution restaurants. They have developed a high-quality, authentic Spanish offering which resonates well with consumers and adds to the casual dining landscape.”
Mac Plumpton, MD of Tapas Revolution said: “The Mobeus investment is an exciting step in the Tapas Revolution journey. We have a number of new restaurant locations in our sights and this funding will allow us to take the Tapas Revolution concept more widely.”
Mobeus was advised by Mike Johnson, former MD of Whitbread’s restaurant division (Operational); Charles Russell Speechlys (Legal); WK Corporate Finance (Financial).