Bowmark Capital completes £27 million acquisition of Las Iguanas

Las Iguanas operates a chain of 14 Latin American restaurants across the UK, including sites at the Royal Festival Hall and O2 arena in London, the Trafford Centre in Manchester and the Harbourside in Bristol. Las Iguanas specialises in Latino food, including traditional Latin American dishes, and is the leading Latin American food and drink brand in the UK. The business is led by Eren Ali and Ajith Jaya-Wickrema, who founded the company in 1991.

Bowmark Capital provided £10.5 million of equity to finance the acquisition and fund the further roll-out of the business, with the balance provided by management and by senior debt facilities from The Royal Bank of Scotland. The transaction provided an exit for Piper Private Equity, which invested in the business in July 2002.

Eren Ali, Managing Director of Las Iguanas, said: "We have ambitious plans for the company, and aim to open a further 20 sites over the next three years. We have known Bowmark for a number of years and are delighted to have them as our new financial partners in the next stage of the company’s growth".