Red Engine has secured a new £60m facility from Santander, HSBC and Barclays to support its global expansion plans.
The experiential bar operator of Flight Club Darts and Electric Shuffle achieved sales of £67m last year, while Red Engine and partner venue sales combined exceeded £100m.
The group’s estate currently stands at 25 venues – 17 owner-operated, and 8 partner-owned by State of Play Hospitality (Flight Club in North America) and Night Owl (Flight Club in Australia).
This portfolio is set to increase to 33 in 2024, as Red Engine and its partners are poised to open a further eight sites this year.
Red Engine will open Electric Shuffle Manchester and New York and Flight Club Liverpool and Oxford, while the franchise partners opening pipeline for 2024 consists of Flight Club Philadelphia, Washington, Sydney and Melbourne.
Ross Shepley-Smith, CFO at Red Engine said, “For the last nine years, everything we have done has been with our customers in mind. Our in-house game developers, our interior and design teams, our venue teams of chefs, bartenders and everything in between, have strived to give people the best experience possible.
”It’s because of this that we’ve built such a loyal customer following, and it’s these customers that have made it possible to grow as we have done. Our mission has always been to make groups of friends everywhere ridiculously happy, and we couldn’t be more excited to continue that journey with this new facility.”
Zelmari Geldenhuys, Associate Director – Strategic Debt Solutions at Santander said, “Red Engine continues to deliver impressive growth across multiple geographies. Santander has supported this growth since 2016 and we are delighted to be able to continue to do so at this important juncture in the Group’s evolution”
James Protheroe, Relationship Director, Consumer Industrials, at HSBC UK, said: “HSBC UK is delighted to continue to support the Red Engine group. This upsized facility will see the group build out its presence both in the UK and in the US, and further cement the already strong position enjoyed by the Flight Club and Electric Shuffle brands within the leisure and hospitality sector.”
Phil Richardson, Hospitality & Leisure Director at Barclays said: “Red Engine are a great example of an innovative business in the hospitality sector. We’re proud to support them with lending to continue their growth, as they expand their business globally.”
