Page 1: Gala Clubs
The core business of Gala Clubs is bingo. Bass PLC originally owned it, but in 1997 it became a private limited company following a management buy-in. Management buy-ins often happen when large commercial organisations have to make strategic decisions about what to do with parts of a business. Capital is raised externally by a management buy-in team. A management buy-in team, led by John Kelly and Richard Sowerby, gained
the financial support of a number of venture capitalists, who enabled them to buy the business from Bass which they now share in and manage on behalf of the venture capitalists.
Today Gala Clubs is a large and developing organisation in its own right
with a 30 per cent market share of the bingo industry within the UK. It currently owns 150 bingo clubs and employs more than 5,000 staff in various parts of the country. The support and management teams at Gala's head office total a further 140 people. One of the options available to the venture capitalists is to exit the existing arrangements by floating its shares on the stock exchange so that it becomes a publicly quoted company with PLC after its name.