Posted Friday 10th May 2024
Joelson, the leading London law firm, has advised K1 Speed, the premier indoor electric kart racing brand, on the acquisition of Capital Karts, the fastest indoor go karting track in the UK, based in London.
The acquisition will support the growth of indoor electric go karting and will enable K1 Speed to be a key player across the UK and Europe. This follows K1 Speed’s recent investment in the US, where they acquired Autobahn Indoor Speedway, Accelerate Indoor Speedway, Speed Raceway, Tampa Bay Grand Prix, Speed Circuit and Free Minds
K1 Speed, founded in 2003 by David and Susan Danglard, has evolved to over 92 racing centres across eight countries. Their entertainment centres offering electric karts provide safety, performance, and environmental benefits, catering to a diverse customer base. This includes arrive-and-drive sessions, parties and corporate events. Additionally, they offer food and beverages, simulators, arcade games, gear, leagues and championship events.
The Joelson team was led by Managing Partner, Phil Hails-Smith, who was supported by Associate Harriet McDonald and solicitor Georgia Edmondson.
David Danglard, CEO and President of K1, said:
“A huge thank you to Phil and his team in helping us get this deal over the line, it has been a seamless process in working with Joelson. With this deal, we’re not just expanding our footprint; we are accelerating our commitment to delivering exhilarating experiences to all, while continuing to lead the industry in innovation and sustainability.”
Phil Hails-Smith, Managing Partner at Joelson, added:
“I am delighted have worked with the K1 Speed team on their first acquisition in the UK. Our team navigated this process carefully with our client’s best interests always front of mind in a pragmatic and commercial way. We are delighted to be supporting K1 Speed as it expands in the UK and Europe.”
This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.
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