Competitive socialising group Roxy Leisure receives £7.5m to grow
The competitive socialising group currently operates eight venues across four cities; Leeds, Liverpool, Manchester and Nottingham under the Roxy Ball Room, Roxy Lanes and Roxy Arcade brands. The venues provide a range of entertainment facilities including pool tables, ping-pong, bowling, shuffleboard, mini-golf, arcade gaming and karaoke.
The investment was made by the Foresight Regional Investment LP and the Foresight VCTs and will be used in part as growth capital, supporting the company’s expansion into additional locations across the UK with multiple openings planned in 2020.
Roxy is due to open its ninth venue, Roxy Ball Room, in Birmingham, later this month as well as second venues in Manchester and Nottingham.
The first Roxy site was opened in 2013 by founders Matt and Ben Jones and has since grown across the north and Midlands.
“Roxy demonstrates some of the most attractive leisure sector performance metrics we have seen and the growth of the business in recent years has been impressive,” says Mike Quinn, director at Foresight. “The Company is well-positioned to accelerate its growth with the additional support and guidance that Foresight will bring. Matt and Ben have built a successful business with a good corporate culture and we look forward to working with them to take Roxy through the next stage of its growth.”
The company is one of a number jostling for space in the competitive socialising sector. Flight Club, the darts concept, will open its first venue in Leeds this year, adding to its locations in Birmingham, London and Manchester as well as Boston and Chicago.
