Family Entertainment Group (FEG) has been acquired by a global investment firm.
H.I.G. Capital, which has US$50b of equity capital under management, announced that one of its affiliates has completed the acquisition of FEG, which has nearly 60 sites throughout the United States.
H.I.G. is partnering with George Smith, founder and chief executive officer, as well as the current management team, to provide support and resources to take advantage of the company’s significant growth initiatives.
Smith said: “We are thrilled to embark on the company’s next chapter of growth through our partnership with H.I.G. This partnership will allow us to continue investing in the technology and equipment required to deliver unique experiences for our customers.
“The Company has tremendous opportunities to expand with new and existing partners and H.I.G.’s resources will help us continue our long track record of growth.”
Ryan Kaplan, managing director at H.I.G, said: “The acquisition of Family Entertainment Group represents an ideal opportunity to partner with the market leading provider of outsourced arcade operations.
“We are looking forward to partner with George, an industry pioneer, and the rest of the executive team as they look to accelerate the Company’s growth.”
