Atairos, an independent investment firm backed by Comcast focused on growth-oriented businesses, announced this week it’s to acquire a “substantial ownership position” in Bowlmor AMF from a group of previous investors led by Cerberus Capital Management.

Financial terms were not disclosed, but they said J.P. Morgan and Credit Suisse have provided fully committed financing for the transaction. Credit Suisse served as financial advisor to Bowlmor and J.P. Morgan Securities LLC served as financial advisor to Atairos.

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Tied to the deal, Bowlmor CEO Thomas Shannon will maintain his significant investment in the bowling and entertainment franchise, which has grown from six centers in 2013 to more than 300 (295 in the U.S., seven in Mexico and three locations in  Canada) under brands that include The Bowlmor, Bowlero, and Brunswick Zone XL, among others.  

Atairos launched in 2016 with more than $4 billion in committed capital. The investment company, led by former Comcast CFO Michael Angelakis, has also invested in Groupon Inc., Learfield (integrated marketing solutions for college sports), Orogen Group (a private company that focuses on the financial services industry), TriNet (human resources for small/mid-sized businesses), and Virtusa Corp. (IT consulting and outsourcing).

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“We acquired and revitalized the AMF Bowling and Brunswick Bowling chains through extensive operational improvements and by introducing Bowlmor’s innovative sporting and entertainment experience to a national audience.” Shannon said in a statement. “Atairos is the ideal partner for Bowlmor as we embark on the next phase of our growth and development.”

"This is an exciting opportunity for Atairos to invest in the growing out-of-home entertainment market by partnering with a proven entrepreneur in Tom Shannon who has built the leading bowling franchise in North America, with terrific brands and unmatched scale,” Angelakis added. “At a time when consumers are seeking unique and authentic experiences, Bowlmor’s highly differentiated and compelling offering has been enormously successful. With a proven, scalable platform and a highly talented management team, we believe there’s great potential for continuing growth through execution of the business plan as well as related acquisitions.”

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Some big, perhaps surprising, changes are occurring in Comcast’s technology and engineering ranks, led by the coming transition of company executive vice president and chief network officer John Schanz.

He’s taking an advisory role at Atairos, the investment vehicle set up by former Comcast vice chairman and CFO Michael Angelakis last year, which has invested $250 million in e-commerce company GroupOn.

Schanz, a former AOL networking executive who joined Comcast in 2006, has been helming the largest video and broadband network in the pay TV industry, serving 22 million cable customers, 23 million high-speed Internet customers and 11 million voice customers. Under his leadership, Comcast has developed a major content delivery network that underpins a multiscreen video platform for smartphones, tablets and PCs, as well as traditional set-top boxes.

Former Comcast CTO Tony Werner, recently promoted to president, technology and product, will assume Schanz’s responsibilities on the network side. MSO veteran Sree Kotay has succeeded Werner as CTO.

Marcien Jenckes, EVP of consumer services, is taking on Schanz’s duties in ad-technology operations, which includes the recently acquired programmatic ad systems vendor Visible World and online ad specialist FreeWheel.