December

Canaccord Genuity Hawkpoint advises Phoenix Equity Partners on the disposal of Gaucho to Intermediate Capital Group

On 14 December 2007, our clients, Phoenix Equity Partners agreed to the sale of their holding in Gaucho to Intermediate Capital Group plc (ICG). The deal value was not disclosed. Management have re-invested the majority of their holdings.

Gaucho is the leading UK-based operator of stylish Argentine restaurants. Gaucho's high quality concept offers award winning Argentine cuisine with exceptional service. It has an outstanding financial track record and strong rollout potential. The company currently has a portfolio of 11 restaurants, with a new site due to open in February 2008 at the O2 (formerly the Millennium Dome), with two further restaurants expected to be opened by the end of 2008.

Having enjoyed a longstanding relationship with Gaucho, Hawkpoint pitched for the disposal mandate in Q2 2007. We were awarded the mandate soon thereafter to run a dual-track process. As a result of turbulent stock market conditions, the IPO process was aborted in November. ICG was one of two parties that had been approached in October, and they were taken exclusive once the IPO process was aborted.

Canaccord Genuity Hawkpoint was sole financial advisor to Phoenix Equity Partners on the Transaction.

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