UK - Bowmark acquires Las Iguanas from Piper Private Equity for £27m

Bowmark Capital has acquired Las Iguanas, a chain of Latin American restaurants, in a ТЃ27m buyout. The transaction provided an exit for Piper Private Equity, which invested ТЃ3.4m in the business in July 2002. Piper has reaped returns of 6x its investment from the disposal. Bowmark invested ТЃ10.5m in the deal, alongside funding from the management of Las Iguanas and senior debt facilities provided by The Royal Bank of Scotland. Previously Las Iguanas had been backed with a 3i-led round of expansion capital totalling ТЃ700,000 in 1997.