London-based crazy golf club Swingers has received multimillion-pound funding from a private investment firm as the popularity of competitive leisure activities continues to grow.
Cain International today announced it has made a “significant investment” in the golf club’s parent company Competitive Socialising, which it said would allow the leisure brand to open new venues in the US.
Swingers, which was first launched as a pop-up in Shoreditch, combines crazy golf with cocktails and street food. It currently has an 18,000 square feet (sq ft) site in the City and a seaside-themed venue in the former BHS flagship store in Oxford Circus.
The crazy golf brand is part of a growing ‘experiential leisure’ trend in the capital, popular with young people who enjoy active nights out.
Matt Grech-Smith, co-founder and joint chief executive of Competitive Socialising, said: “The last few years of growth for Swingers have been incredibly exciting and very fast paced.
“We’re excited to be partnering with Cain International and harnessing their expertise and their capital to turn Swingers from a pair of incredible London venues into an international leisure brand.”
City A.M. understands the investment is worth roughly £28m, with Cain Investment taking a majority stake in the company.
Cain International chief executive Jonathan Goldstein said: “[Founders] Jeremy and Matt have pioneered the fast-growing competitive socialising leisure space.
“They’ve developed an exciting, dynamic and highly profitable business with a much-loved brand in a short space of time.”