Electra Partners sells remaining stake in Hollywood Bowl for £42m

The private equity firm that floated UK bowling alley operator Hollywood Bowl in September has sold off the last of its stake for £41m.
In a statement on Friday morning, the buyout firm Electra Partners said it had sold its remaining 17.8 per cent holding.

Electra had an 85 per cent stake before the IPO and said in December it had made £94m on its investment.

The company operates 54 bowling alleys around the UK.

The shares closed on Thursday at 168p, compared with an IPO price of 160p.