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Sun 25th Nov 2018 - Swingers’ parent company gets significant investment to target North America and launch new UK concept
Swingers’ parent company gets significant investment to target North America and launch new UK concept: Competitive Socialising, the parent company of street food and crazy golf concept Swingers, has received “significant” backing from private investment firm Cain International. The deal will provide substantial capital for expansion with a number of openings targeted for Swingers in North America and the launch of a second Competitive Socialising concept in the UK. Matt Grech-Smith and Jeremy Simmonds founded Competitive Socialising in 2014 with the launch of a sell-out Swingers pop-up that ran for five months in Shoreditch combining crazy golf with cocktails and street food. In May 2016, Grech-Smith and Simmonds opened an 18,000 square foot permanent Swingers site in the City of London, comprising two nine-hole crazy golf courses, five bars and three street food vendors in an English country golf club setting. Swingers West End opened in March this year in a former flagship BHS store in Oxford Circus. The 21,000 square foot, seaside resort-themed venue features two nine-hole courses, four bars, four street food vendors and privately bookable spaces. The deal adds to Cain International’s growing portfolio of leisure and lifestyle assets including Mortimer House, a members’ club, co-working space and restaurant in Fitzrovia, and AllBright, a group of members’ clubs for women in London and Los Angeles. Last month, Cain International sold its stake in SBE Entertainment Group – which includes the Morgans Hotel Group and SLS brands – to Accor Hotels. This year Grech-Smith and Simmonds were named on the Sunday Times Maserati 100 game-changing entrepreneurs list and as the Daily Telegraph’s “most ambitious business leaders”. Grech-Smith said: “The last few years of growth for Swingers have been incredibly exciting – and very fast-paced. We’re excited to partner with Cain International and harness its expertise and capital to turn Swingers from a pair of incredible London venues into an international leisure brand.” Cain International chief executive Jonathan Goldstein added: “Jeremy and Matt have pioneered the fast-growing competitive socialising leisure space. They’ve developed an exciting, dynamic and highly profitable business with a much-loved brand in a short space of time. We are excited to partner with them and bring our international footprint and experience with other real estate-backed leisure and hospitality concepts to roll out their concept globally.” Competitive Socialising was advised on the deal by Ali Anezi and Adam Spencer, of investment advisory business Tamweel Capital.


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