Hollywood Bowl, the UK’s largest ten-pin bowling operator, has announced that it will float on the London Stock Exchange next month.
The listing, which will value the firm at around £280 million, will see its private equity owner Electra sell down about half of its 85 per cent stake.
Electra acquired the firm in 2014 for £91m and has presided over a period of steady growth.
Last year, its 54 centres helped deliver a 9 per cent increase in revenues to £86m while earnings increased 41 per cent to £20.6m.
Holywood Bowl also operates under the AMF and Bowlplex brands, having acquired 11 of the latter’s centres at the end of last year. The group runs four sites north of the Border, in Coatbridge, Dunfermline, Glasgow and Stirling.
Chief executive Stephen Burns said: “We are very excited about the next stage in the development of Hollywood Bowl Group, and believe we have all the attributes to succeed as a listed business.
“The IPO will allow us to continue to build the momentum of the business, providing a solid platform for further growth.”
Burns and other members of the management team will also sell part of their stake in the company.