Triple Shift Entertainment Acquires Twin Cities Bowling Centers December 14, 2018
MINNEAPOLIS-ST. PAUL, MN – Triple Shift Entertainment, LLC today announced that it has acquired ten bowling centers in the Minneapolis-St. Paul region from the Anderson Companies. The company will remain headquartered in Woodbury, Minnesota. Financial terms of the transaction were not disclosed.
Founded in 1980, the Anderson Companies’ bowling centers have a decades-long history of engaging with their communities by providing dynamic family entertainment, with offerings that include bowling lanes, arcades, laser tag and more. The centers include Andover Lanes (Andover), Classic Bowl (Coon Rapids), Colonial Lanes (Rochester), Concord Lanes (South St. Paul), The Mermaid (Mounds View), Park Grove Bowl (Park Grove), PINZ (Oakdale), Super Bowl (Ramsey), River City Extreme (Monticello) and Sun Ray Lanes (Saint Paul).
“After evaluating investment opportunities in the bowling center space for several years, we are delighted to be entering the industry with an extraordinarily strong group of centers, which have been built through the integrity, dedication and expertise of the Anderson family,” said Robby Spigner, President of Triple Shift Entertainment. “We hope to build on the centers’ existing success by continuing the Anderson family’s unparalleled focus on an outstanding customer experience and by exploring new opportunities to deepen the centers’ integration into the larger bowling community through junior programming and professional tournaments.”
Mike Anderson, who represents the second generation of the Anderson Companies’ founding family, said, “Triple Shift Entertainment shares my family’s commitment to premier bowling center operations, and they have a deep understanding of the industry. I am confident that they will do a wonderful job carrying on my family’s legacy. This is an exciting, positive development for the business and for its employees.”
Mike Fagan, who holds five PBA Tour titles as well as an M.B.A from The University of CaliforniaBerkeley, will be joining Triple Shift Entertainment as its Director of Business Development. “This is an incredible opportunity to combine my love of the sport with my passion for business, and I’m looking forward to working with the Triple Shift Entertainment team to implement our ideas for improving and growing the business and the sport.”
Greyrock Capital Group, a provider of mezzanine debt and equity to finance buyouts, recapitalizations and internal growth needs of middle-market companies, assisted in providing financing for the transaction. “Greyrock is pleased to invest with Mr. Spigner for the second time, given his extensive industry-specific background, track record for hands-on operational improvement, and partnershiporiented approach,” said Sam Snyder, Principal of Greyrock Capital Group.
Sandy Hansell & Associates, Inc. served as financial advisor to the Anderson Companies. J.C. Anderson, Alyssa Hirschfeld and Kelsey Swagger of Grant Plant Mooty served as legal advisors to the Anderson Companies. Stephanie McCann of McDermott Will & Emery LLP and Tarun Chandran of FisherBroyles LLP served as legal advisors to Triple Shift Entertainment, LLC. David McLean, Brian Coughlan and Jennifer Brooks of McGuireWoods served as legal advisors to Greyrock Capital Group.
Contact for more information: Rachel Masory (312) 672-2971 email@example.com