Lucky Strike owns and and operates a chain of upscale bowling alleys that also serve as night clubs and high quality casual dining venues. The company, founded in 2003 by industry veteran Steven Foster with the opening of the first location in Hollywood, CA, operates locations throughout the US. Locations typically feature an upscale bowling lounge with 12-24 lanes, a large high energy bar, a sophisticated audio/visual system, and a full sit-down menu with dining capacity of 75-120 customers.
Caltius Mezzanine’s investment was part of a larger recapitalization in which existing debt was refinanced and shareholder investments were repaid. The transaction also provided capital to support the company’s growth plans. Following its initial investment, Caltius Mezzanine provided additional mezzanine capital to provide liquidity for new store openings.
Los Angeles, California
“We are excited to have an institution like Caltius as a partner. Caltius helped us close on an important transaction which provides capital and flexibility to continue its growth strategy while repaying initial shareholder investments.”
Steven Foster, CEO, Lucky Strike