The Original Bowling Company (TOBC), the bowling company backed by Electra Partners, has sold six bowling centres to Indoor Bowling Equity, owned by Harwood Capital.
The centres will be re-branded under the Tenpin brand and will increase the number of sites in Indoor Bowling Equity's portfolio from 30 to 36.
The deal follows TOBC's bolt-on acquisition of Bowlplex last year. Following the deal the Competition and Markets Authority ruled in December that TOBC would need to sell its centres in Bristol, Camberley, Cardiff, Dudley, Castleford and Glasgow for the transaction to be cleared
In June last year Harwood Capital bought another bowling alley company, Essenden Leisure, in a public-to-private transaction worth more than £40m. The Royal Bank of Scotland provided a £20m funding package to support the acquisition of Essenden as well as the deal with TOBC.