GE Capital has provided financing for Electra Partners’ buyout of The Original Bowling Company, alongside banks Barclays and Lloyds.
The trio of lenders provided £40 million (€50 million; $65 million) amount of financing to support Electra’s acquisition of the company, which is the UK’s largest ten-pin bowling operator. Furthers details of the financing package have not been revealed.
Electra paid £91 million for the business, acquiring it from CBPE Capital (formerly known as Close Brothers Private Equity), which had owned it since 2010. CBPE is understood to have made a 2.4x return on its investment, having grown EBITDA by more than 60 percent during its period of ownership.