1 Jul 2016 06:27
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Don't have an account? Click here to register.Electra Partners announces successful Hollywood Bowl IPO
Fri, 16th Sep 2016 07:38
(ShareCast News) - Electra Partners has announced the successful initial public offering of its portfolio company Hollywood Bowl Group, a ten-pin bowling operator in which it owns an 85% interest.Electra said that upon admission to the Main Market of the London Stock Exchange on 21 September, Hollywood Bowl will have a market capitalisation of £240m. Based on the offer price, Electra's equity and debt investments in Hollywood Bowl have a value of £217m, an uplift of £62m on the valuation at the end of March and equivalent to a net asset value increase of 126p per share. On admission, Electra is expected to receive cash proceeds of £153m from the sale of its equity investment and the repayment of £22m of debt instruments issued by Hollywood Bowl.In addition, it will hold about 18% of the issued ordinary share capital of Hollywood Bowl with a valuation at the offer price of £42m.Bill Priestley, chief investment partner at Electra Partners, said: "This investment is a great example of Electra Partners' investment strategy in action. When we first invested two years ago our plan was to accelerate the company's growth and, together with Steve Burns and his team, this is exactly what we have done: bringing forward and expanding the company's organic growth investment programme, developing the new site pipeline, and leading the acquisition of Bowlplex."Altogether these actions have more than doubled the size of the business while transforming it into the UK market leader with multiple levers for future growth."
More News
20 Jun 2016 07:44
Electra Private Equity loses two board members
(ShareCast News) - Investment trust Electra Private Equity announced the resignation of two of its directors on Monday, with Dame Kate Barker and Francesca Barnes departing with immediate effect. The FTSE 250 firm said Barker joined the board in 2010 and was chairman of the remuneration and nominati
Read more20 Jun 2016 06:48
Electra board members resign after company shake-up
LONDON, June 20 (Reuters) - Electra Private Equity, which has been the focus of a campaign by activist investor Edward Bramson, said on Monday that board members Kate Barker and Francesca Barnes were resigning with immediate effect. The resignations follow the appointments within the last t
Read more17 Jun 2016 15:07
14 Jun 2016 08:56
Electra cancels large credit facility
(ShareCast News) - Electra Private Equity announced the cancellation of a large credit facility on Tuesday. The FTSE 250 firm said that, having carefully reviewed its cash position, it has decided to cancel its existing £275m multi-currency revolving credit facility. Its board confirmed that the fa
Read more6 Jun 2016 07:33
Electra sells Elian to Intertrust for £435m
(ShareCast News) - Electra Partners said it had agreed to sell corporate services provider Elian to Intertrust Group for £435m. After completion of the deal, which is expected during the third or final quarter of 2016, Electra said it expected to receive total proceeds of around £200m, an uplift of
Read more6 Jun 2016 06:41
RPT-Dutch trust operator Intertrust buys Elian for 435 million pounds
(Repeats to add Reuters Instrument Code for Electra) AMSTERDAM, June 6 (Reuters) - Intertrust plans to buy rival Elian for 435 million pounds ($625.31 million) from private equity firm Electra to expand in the Cayman Islands, Guernsey, Luxembourg and the Netherlands, the Dutch trust firm sa
Read more6 Jun 2016 06:31
27 May 2016 14:18
Directors dealings: Activist investor Bramson tops up stake in Electra
(ShareCast News) - Electra boss Edward Bramson picked up another large slice of shares in the listed private equity outfit on the same day of his appointment as interim chief executive officer of the firm. Bramson and one of his associates, Ian Brindle, were named to Electra Private Equity´s board o
Read more