GE backs Electra’s bowling buyout

The lender has partnered with Lloyds and Barclays to finance Electra Partners’ buyout of The Original Bowling Company.

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.