Strike for CMS and Mayer Brown as Hollywood Bowling Group floats
CMS Cameron McKenna and Mayer Brown are advising as Britain's biggest tenpin bowling group plans to float
June 15, 2016 at 07:43 AM
2 minute read
CMS's UK arm is advising Britain's biggest tenpin bowling alley operator, Hollywood Bowling Group, as it prepares to float on the London Stock Exchange.
Various reports have valued the company at £280m.
The company owns and operates 54 tenpin bowling centres across the UK under the Hollywood Bowl, AMF and Bowlplex brands. The initial public offering (IPO), which was announced today, is expected to be completed in July 2016.
The CMS team advising on the proposed float is being led by corporate and equity capital markets partner James Parkes, with support from a cross-practice team including corporate partner Martin Treagus.
Last week, CMS posted an 8.4% increase in global revenue, just breaking the €1bn mark in 2015-16. The firm reported turnover of €1.01bn, up from €934.5m in 2014-15.
CMS did not disclose its global net profit but said it was up 6.8% on last year's figure, which was also undisclosed. The firm has not yet provided a breakdown of its UK results.
Mayer Brown corporate and securities partner Kate Ball-Dodd is advising Investec's asset managing group, which is acting as sole sponsor, broker and bookrunner to the IPO.
Other recent flotation news this month includes the revelation that White & Case is in line for a key advisory role as oil giant Saudi Aramco plans a flotation that could value the company at up to $2.5trn (£1.7trn).
If successful, that flotation would be the largest in global history.
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