Ten Entertainment Group, the UK’s second largest tenpin bowling centre operating company, listed on London Stock Exchange's main market last Thursday at 165p per share.
The group trades as Tenpin and the listing is worth £107m, netting the current owners £26.8m on their 25 per cent being sold as part of the listing. It has 40 tenpin bowling locations and is second in size to its rival Hollywood Bowl, which capitalized at £256m in September of last year, although its shares have since fallen 7 per cent.
Ten Entertainment’s owners, Harwood, hold 69 per cent of the shares in the company after the listing, with the directors holding another 5.6 per cent.
Harwood is a fund run by Christopher Mills who led the purchase of Essenden Leisure in August of 2015 to set up Ten when it was previously listed.
Six Bowlplex sites were recently purchased by Harwood, which in its most recent annual report (December 2016) showed sales of £67.m, a rise in profits to £17.6m from £10.2m.