THE ORIGINAL Bowling Company yesterday announced it will take over rival Bowlplex in a deal funded by its private equity owner.
Electra Partners, which invested £51m in The Original Bowling Company (TOBC) last September, said it will buy Bowlplex, for an unspecified sum, subject to approval from the Competition and Markets Authority. TOBC operates under the Hollywood Bowl and AMF brands.
Bill Priestley, partner at Electra Partners, said: “We have been interested in Bowlplex for some time due to the quality of its locations and complementary portfolio. Our plan is to drive further growth through investing in the development of the existing sites and replication of Hollywood Bowl’s successful customer offering.”
Founded in 1976, Bowlplex operates 17 ten-pin bowling centres across the UK, primarily located in leisure or retail parks.
Electra Partners said this was its sixth acquisition this financial year, including its buyout of TGI Fridays and a follow-on investment in Allflex Corporation in January. In the year to 30 September 2014, Electra invested a record £410m on behalf of Electra Private Equity.