Houlihan Lokey Advises F1 Arcade

Houlihan Lokey is pleased to announce that Kindred Concepts Limited, trading as F1® Arcade (F1 Arcade), has received a growth financing raise. The $130 million commitments are funded by Cheyne Capital, Liberty Media Corporation, Permira Credit, and OakNorth. The transaction was completed on 26 July 2024.

F1 Arcade is the world’s first F1® experiential hospitality brand. Backed by Formula 1 and Liberty Media, F1 Arcade opened its first venue in London in 2022, followed by Birmingham. In April 2024 the brand launched its first U.S. site in Boston Seaport. As part of an ambitious roll-out plan, F1 Arcade is set to open a site in Washington, D.C., in the autumn of 2024 and a flagship site in Las Vegas in 2025.

The concept includes a state-of-the-art F1 racing simulator experience coupled with an exceptional hospitality offering, perfect for groups, families, or corporate entertainment.

F1 Arcade plans to launch a mixture of owned and operated and franchise locations worldwide, with 30 sites expected to be open by the end of 2027 across the U.S., Europe, Asia, Australia, and the Middle East. Following its launch in Boston, MA, F1 Arcade will launch multiple owned and operated sites in 2025, including Las Vegas, with a plan to launch five more in the U.S. each year thereafter. The first franchise sites are also in development.

Houlihan Lokey was appointed to pursue a growth financing for the brand to fund its global expansion. The firm acted as the exclusive financing advisor to F1 Arcade to arrange, structure, and negotiate the financing package.

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