MIAMI – July 21, 2022 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $50 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Family Entertainment Group Holdings, LLC (“Family Entertainment Group” or the “Company”).
Founded in 2004 and headquartered in Itasca, Illinois, Family Entertainment Group is an industry leading designer, developer, and operator of amusement facilities. The Company provides turnkey outsourced facility management services of arcade operations on behalf of resorts, hotels, casinos, and amusement parks. Through its market leading position and industry expertise, Family Entertainment Group enhances customer experience and maximizes revenue on behalf of its facility partners. Additionally, the Company owns and operates standalone family entertainment centers under the In The Game, Max Action, and Bonkers brands. Family Entertainment Group operates nearly 60 state-of-the-art locations throughout the U.S.
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 strategic growth initiatives across a large and rapidly growing end market. Mr. Smith commented “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.”
“The acquisition of Family Entertainment Group represents an ideal opportunity to partner with the market leading provider of outsourced arcade operations,” added Ryan Kaplan, Managing Director at H.I.G. “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.”
About Family Entertainment Group
Founded in 2004 and headquartered in Itasca, Illinois, Family Entertainment Group is the industry leader in game room and entertainment center design, development, consultation, and operations. The Company’s industry expertise, systems, and scale allow its facility partners to optimize profitability and focus on their core competency. The Company’s owned and operated locations throughout the U.S., provide innovative customer experiences in highly inviting atmospheres. Family Entertainment Group’s state-of the-art games and attractions provides for a memorable, family-oriented experience across nearly
60 locations through the country. The Company has over 1,000 employees, led by industry pioneer, George Smith, and a highly experienced and tenured management team.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $50 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.