Rosa’s, the London-based, six-strong Thai cafe concept, which was founded by British husband and Thai wife team Alex and Saiphin Moore, has received approaches from private equity firms but intends to wait until its EBITDA run rate reaches £3m before considering taking on outside investment, MCA understands.

The group, which will open its eighth site in the capital next February in Brixton, plans to open a further two sites in the capital before expanding to the regions.

Alex Moore told MCA: “We are happily ticking along at present. We are still self-financed and happy to staying independent for now. We get a lot of approaches which is flattering but happy where we are at present. Our EBITDA to end of March was £800k up from 400k the year before and run rate looking really good for the current year. There is no point rocking the boat, once we get to a run rate EBITDA of around the £3m mark, will have another think about taking on some outside investment.”

Moore said that the group had a few sites “bubbling under for next year” in terms of growing its pipeline.

He said: “We will get to 10 and look outside London and we should get to that point next year, which will be a nice base for further expansion. There is a Malcolm Gladwell book where he talks about having 150 people, I think he compares it to a Roman battalion, a number where he proves through case studies where social relationships fall apart after that number. Our goal is to get to that 150-mark in London in terms of people/employees and then we’ll look to expand outside London with another unit of 10 sites/150 people. We want to expand but without losing our soul.”