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Next Capital acquires FEC operator Funlab
Leading Australian out-of-home entertainment company Funlab, the operator of Strike bowling bars as well as Sky Zone trampolines centres and Exitus escape rooms, has reportedly been acquired by the Next Capital group.
According to the Australian Financial Review, Next Capital has bought out Funlab's minority shareholders and plans to back Funlab Chief Executive and founder Michael Schreiber's future growth plans.
Funlab, which makes about $10 million in earnings, was established by Schreiber in 2001.
Schreiber established his first Strike Bowling venue on Melbourne's Chapel Street, with operations expanded to 12 venues in NSW, Queensland and Victoria.
The AFR has suggested that given the similarities between Strike's model of combining bowling and that of Ardent Leisure's Kingpin chain, "there are sure to be some in the market who see sense in a follow-on deal between the two parties".
Next Capital's portfolio also includes Lynch Group, Australia's largest wholesaler of floral and potted products; Brisbane-based steel maker Steelforce; and GoBus, an operator of urban, school and charter bus services throughout New Zealand.
Image shows an Exitus escape room at Strike Bowling Mlebourne Central.
1st October 2016 - NEW GOLF-BASED FEC CONCEPT OPENS IN BRISBANE
15th August 2016 - NEW GENERATION ESCAPE ROOM TO OPEN IN MELBOURNE
27th July 2016 - FUNLAB EXPLORES NEW OWNERSHIP OPTIONS
26th July 2016 - ESCAPE ROOMS EXPAND GAMING CONCEPTS INTO LIVE-ACTION EXPERIENCES
8th April 2016 - SKY ZONE OPENS LARGEST TRAMPOLINE PARK IN THE SOUTHERN HEMISPHERE
1st December 2016 - DREAMWORLD EXTENDS SEASON PASSES, STRESSES SAFETY OF WHITEWATER WORLD
13th September 2015 - NEW BOWLING CENTRE A HIGH POINT OF ENTERTAINMENT AND PUZZLES
20th July 2014 - FIRST SKY ZONE TRAMPOLINE ARENA LAUNCHES IN BRISBANE
11th December 2013 - STRIKE BOWLS OVER SYDNEY’S MACQUARIE CENTRE
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