Ping pong king Adam Breeden plots stock exchange float in next five years
Bounce founder Adam Breeden has said he wants to put his company on the London or New York Stock Exchange in the next five years.
Breeden, who also co-founded darts bar Flight Club and is bringing a minigolf concept calledPuttshack to London this year, said that the rate at which the business was growing made a float likely.
In an interview with City PM, he said he would “definitely” like to see his company Social Entertainment Ventures on the stock market.
“That’s not an immediate way we’re going to capitalise the business but it’s very likely to be the next one,” he said.
The business is still relatively small, with a few sites in London and one in the US. But Breeden said that with international expansion and the launch of new bar concepts, the company would grow quickly.
“It’s because we continue to generate these new concepts and because there’s still so much growth, there’s the ability to license these products as well.”
Social Entertainment Ventures is the umbrella company for ping-pong bar Bounce and Puttshack, as well as the US license-holder for Flight Club.
Breeden plans to open several new sites in the UK and the US in the next few years, using funding from investors.
“There’s a lot of people trying to get in on investing in the businesses but up until now we’ve been trying to raise money internally,” he said. “Now we’re going to be raising money externally.”
He added that the US was a particular focus for the group due to its growth possibilities.
In mulling a New York float, the company echoes other British firms such as Brewdog, which could snub London with an IPO in the US.
Breeden could also follow the path of Soho House founder Nick Jones, who was revealed this weekend to be looking at a $2bn New York float.
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