Business tycoon Luke Johnson has taken the lead in the acquisition of cinema and leisure chain, The Light. With his firm, Risk Capital Partners, and industry investor Melcorpo, Johnson has successfully bought out the group, previously supported by Connection Capital, which currently boasts 13 venues across the UK.
The new owners have ambitious plans for The Light, intending to inject over £15 million into expanding the business and doubling its size within the next three years. Supported by a substantial new banking facility, the deal aims to completely recapitalise the enterprise.
The Light distinguishes itself by offering a diverse range of entertainment options such as bowling, mini-golf, interactive darts, climbing, and karaoke alongside its primary cinema facilities. Luke Johnson expressed his enthusiasm for the venture, citing the blend of cinema with social activities as an appealing proposition for both consumers and landlords.
Having a wealth of experience in the leisure and hospitality sectors, Johnson stated, “The Light model offers a long-term, exciting solution to the challenges facing high streets and existing cinema locations, rather than short-term fixes.” James Morris, the CEO of The Light, highlighted the team’s dedication to developing a sustainable business model that innovatively combines cinema, entertainment, and communal spaces.
Morris further added, “Our unique offer, strong covenant, and diversified model allow us to repurpose space and enhance the commercial viability of cinemas.” The company is set to announce a significant new project soon, involving the transformation of an old department store to deliver a dynamic cinema experience, reaffirming its commitment to continuous growth and reinvention.
With the backing of Johnson and his partners, The Light is poised to embark on an exciting new chapter, reshaping the landscape of cinema and entertainment experiences in the UK.