Gresham Private Equity is reportedly to sell its majority shareholding in the Individual Restaurant Company, the UK-based restaurant group which owns the Piccolinos and Restaurant Bar & Grill chains. Gresham provided the backing for an MBO bid by founder Steven Walker in 2004. In the event of a sale, Walker and the MD Vernon Lord would both keep a substantial interest in the company. In 2005, the Individual Restaurant Group posted a turnover of £15.3m and profits of £455k.