MBO of the Sukhothai Group by existing management

Deal typeM&A
IndustryLeisure & Manufacturing
Sub-industryFood and drink & Restaurants & Bars
Client nameSukho Limited

BDO has advised the shareholders and management of Sukhothai, the Thai casual dining group operating under the Sukhothai and Zaap brands to facilitate an MBO from founders Gerrard Marks and Yupha (Ban) Kaewkraikhot by members of the current management team.

BDO’s role as Corporate Finance and Tax advisor included the successful fund raising via HSBC to support the transaction, which sees the current management team take a shareholding in the group for the first time, alongside the founders, who will remain active in the business going forward.

“It’s been a pleasure to work with Gerrard, Ban, and the team on this deal. The Sukhothai group continues to go from strength to strength, with Zaap representing a genuinely original and exciting new concept for restaurant-goers in the region”

Marc Hutchinson, of BDO’s Northern M&A team

“We have amazing people here at Sukhothai and Zaap, and it’s great to give the management team the chance to play an even bigger part in the success of the business both now and in the future. We are grateful to the BDO team for their support in achieving this, they were excellent throughout and delivered a deal above our expectations.”

Gerrard Marks, CEO, Sukhothai Group