According to The Telegraph, private equity firms are showing interest in Las Iguanas, the Latin American casual dining group.
Las Iguanas operated 38 sites in the UK and its owner, Bowmark Capital is reportedly aiming to sell the company for £100m.
Bridgepoint Capital (Ask and Zizzi), and Graphite (Groucho Club backer), ECI (Evans Cycles) and Equistone (Audley Travel), are said to be in the running for the dining chain.
In 2007, Bowmark is understood to have paid around £30m for the restaurant chain which was founded in 1991.