Investor BGF has exited a tech-enabled fairground firm which only launched in 2019.
Bedfordshire-based Tenpin Entertainment, which is backed by American private equity firm Trive Capital, has completed a deal for Fairgame, which operates two sites in London.
Fairgame reimagines the traditional outdoor fairground in an indoor venue by combining proprietary tech-enabled fairground games with food and beverages such as candyfloss prosecco.聽
The company was founded by Richard Hilton in 2019. Its sites, which include live leaderboards for the games, are in the City and Canary Wharf.聽
鈥淚 am immensely proud of what Fairgame has achieved,鈥� said CEO Hilton. 鈥淚t has been an unforgettable journey creating and launching this amazing business with my co-founders Andrew Myers and Paul Campbell.聽
鈥淧artnering with Tenpin opens the door to rapid, ambitious growth. The team and I are excited for this next chapter in the Fairgame story, and I look forward to continuing to support and guide the team.鈥澛�
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The transaction marks BGF鈥檚 exit in Fairgame following its initial growth investment in 2022.
鈥淎 huge congratulations to Richard, Paul and Andrew, who have built the business with drive, vision, and leadership,鈥� said Chris Jones, investor at BGF.聽
鈥淲e are proud to have contributed to the Company鈥檚 journey and wish the team every success in the next stage of their growth.鈥�
Headquartered in Cranfield, Tenpin Entertainment is a leading bowling and family entertainment operator with 58 centres across the UK operating under the Tenpin brand.聽
Shravan Thadani, partner at Trive Capital, added: 鈥淔airgame is a category-defining concept in competitive socialising.聽
鈥淭he highly curated brand, proprietary games, and innovative gameplay create a fun and memorable guest experience.
鈥淲e are excited to partner with the management team to expand the business into new markets.鈥�