Family Entertainment Group (“FEG” or the “Company”), the leading operator of family entertainment and amusement facilities, has announced that it has received a strategic investment from TZP Growth Partners I, L.P. (“TZP Growth”).
Founded in 2003, FEG is recognized as an industry leader in arcade design, development, consulting and operations. The Company’s services range from arcade game brokerage and facility design to fully outsourced amusement facility management. FEG operates family entertainment and amusement facilities for blue-chip customers within several industries, including indoor waterpark resorts, hotels, amusement parks, bowling centers, movie theaters, and restaurants.
“This recapitalization expands our ability to invest in the finest games and special attractions, enhance our technology and systems, and attract the best people, all to provide the highest level of service to our facility partners and their customers,” said George Smith, President and Chief Executive Officer.
“FEG’s unmatched breadth and depth of services provide a compelling value proposition to the broader amusement and family entertainment center industries,” said TZP Growth Partner, Rodney Eshelman. “We are thrilled to partner with George Smith and the management team to continue to build the business by growing with existing customers, penetrating new markets, and pursuing synergistic acquisitions.”
The current management team will continue to lead FEG and has maintained a significant ownership interest in the business.