Houlihan Lokey Advises Family Entertainment Group

Houlihan Lokey is pleased to announce that Family Entertainment Group, LLC (FEG), a portfolio company of TZP Group LLC (TZP), has been acquired by H.I.G. Capital, LLC (H.I.G.). The transaction closed on July 20, 2022.

FEG is the leading designer, developer, and operator of amusement facilities, arcades, and other family entertainment attractions. The company primarily operates the entertainment centers on an outsourced, contracted basis, providing its partners with a full suite of service offerings. FEG’s partners include a wide variety of blue-chip resort, leisure, casino, and amusement park companies. The company also owns and operates its own family entertainment centers under multiple brands. FEG operates nearly 60 total locations throughout the U.S. and is based in Itasca, Illinois.

TZP, based in New York, is a leading private equity firm focused on investing in lower-middle-market technology and business services and consumer products and services companies. TZP partnered with the FEG executive team in 2015 and helped drive value through acquisitions and operational expertise.

H.I.G. is a leading global alternative investment firm with approximately $50 billion of equity capital under management, with a focus on the mid-cap segment of the market. Based in Miami, H.I.G. focuses on establishing alignment with committed management teams and entrepreneurs to help build businesses of significant value.

Houlihan Lokey acted as the exclusive financial advisor to TZP and FEG. The firm marketed, structured, and negotiated the transaction on behalf of the company and its shareholders by leveraging its unique access and unparalleled understanding of the out-of-home entertainment industry and its key players. This transaction highlights Houlihan Lokey’s continued position as a leading advisor within the out-of-home and consumer entertainment space.