Penta Capital, the Glasgow-based private equity firm, has backed the £28.2m (€45.5m) management buy-in of La Tasca, the UK restaurant chain, from founder Neil Gatt and 3i, the venture capital firm.
Bank of Scotland provided debt financing for the transaction alongside £14.5m in equity funding from Penta Capital. Craig Armour, director at Penta Capital, said: "The casual dining sector is a growing and dynamic market. La Tasca is a strong operation with a proven formula." The business currently has annual sales of approximately £20.3m and an annual operating profit of approximately £3m. The new funding will support La Tasca's expansion programme.
