Partner Article

Ten Entertainment Group plc secures £15million funding

Ten Entertainment Group plc, which operates under the brand Tenpin, has successfully listed on the London Stock Exchange with a market capitalisation of more than £100million.

The UK’s second largest tenpin bowling operator, which has 40 sites across the country, has now been admitted to the main market of the London Stock Exchange with a price of 165p per share, giving it a market capitalisation of £107.25 million. The company is admitting 25 per cent of its shares to raise almost £27 million.

A £15million revolving credit facility has been structured by the Corporate Transactions team at the Royal Bank of Scotland led by Gary Nutley and Stuart Thompson. This facility will assist Ten Entertainment Group plc with the Initial Public Offering (IPO) and future growth strategy.

Nick Basing, Non-Executive Chairman, said: “The IPO represents a springboard for the company to take advantage of the opportunities ahead. I would like to welcome our new shareholders who recognise our leading and differentiated proposition and the strength of our business model.”

Chief Executive Alan Hand added: “Our family focused offering provides great value entertainment in great locations, delivered with exceptional customer service.

“Ten Entertainment Group’s experienced management and highly cash generative operating model together with a clearly defined growth strategy will enable us to deliver sustainable and growing returns for shareholders. We look forward to the future with real confidence.”

Gary Nutley Head of the London and South, Royal Bank of Scotland Corporate Transactions Team added: “We are delighted to assist Ten Entertainment Group plc with this exciting phase of the company’s growth strategy as they seek to strengthen their market position. They have a very experienced management team who are well placed to drive forward the business even further.”

This was posted in Bdaily's Members' News section by Caroline Marsden .