AXA Private Equity acquires Löwen Play

Buyout group AXA Private Equity has bought a majority stake in Löwen Play from Northern European buy-and-build specialist Waterland Prirvate Equity Investments. No financial details were disclosed.

Germany-based Löwen runs 200 arcades and is the second largest amusement arcade operator in Germany.

Waterland backed the buyout of Löwen in Autumn 2006 and pursued a buy-and-build strategy which has seen the company add more than 50 arcades to its portfolio. The company’s revenues have doubled in the eighteen months of Waterland’s ownership.