Bidders race for UK’s largest indoor karting operator
A number of private equity investors have entered a race to acquire TeamSport, the largest indoor karting operator in the UK.
Sky News has reported that several firms have submitted initial offers for the company, which is expected to fetch over £150m.
Investment bank Harris Williams is overseeing the auction, with private equity firms EMK and Livingbridge reportedly amongst those to have submitted first-round bids.
TeamSport – which operates 35 tracks in the UK – is currently owned by former Wagamama owner Duke Street, one of the UK’s largest buyout firms.
The go-karting operator also has a number of sites in Germany and the Netherlands.
Industry sources told Sky News that the bidders had been attracted by the potential to grow TeamSport to 200 sites across its existing markets alone.
London-listed group 3i also showed an interest in acquiring TeamSport, but is no longer involved.