UK - ICG backs MBO of Gaucho Grill from Phoenix

Intermediate Capital Group has invested minority equity and mezzanine capital to support Guacho's management team's acquisition of the company from previous backers Phoenix Equity Partners. The details of the deal were not disclosed. Phoenix considered floating Argentine restaurant-operator Gaucho but decided against it due to poor market conditions. It was anticipated that an IPO would have valued Gaucho at ТЃ115m.