6X multiple on Las Iguanas

Piper has realised its stake in the Las Iguanas restaurant chain to Bowmark Capital delivering a 6x multiple on its investment

Over the five years of its investment, Piper has helped Las Iguanas grow from a regional operator of four restaurants to become the market leading Latin American restaurant chain in the UK, with fourteen restaurants across the UK and a further seven new sites in the pipeline.

During its involvement, Piper has helped the business develop its brand proposition and build the management team to ensure that it can continue to sustain its outstanding performance and high growth rate. As a result, sales have grown from £4 million to £16 million and EBITDA has grown from £500,000 to £3 million.

“Piper shared our passion for the business from the outset and has been instrumental in helping us leverage the value of the Las Iguanas brand. It has been a fantastic partnership” stated Eren Ali, Founder and Managing Director of the business.

Peter Kemp-Welch of Piper, commented, “Piper’s successful investment in Las Iguanas is further evidence of our expertise and knowledge of the restaurant sector which includes the successful growth and sale of the Pitcher & Piano bar chain and Tootsies burger and grill restaurant group. As a result we are actively seeking new opportunities in the eating out market”.