
Ignite Growth invests in Junkyard Golf – report
Ignite Growth invests in mini-golf bar chain Junkyard Golf, according to a report by Mergermarket.
The deal values the company at almost £40m, suggesting an entry multiple of approximately 10x the company's EBITDA of £4-5m.
Ignite Growth invests equity tickets of £2-15m in companies with enterprise values of up to £30m.
Other bidders in the process included Foresight and trade buyer Imbiba. LDC was also initially part of the process, but dropped out at an early stage.
Company
The company operates two venues in London, as well as venues in Manchester, Oxford, Leeds and Liverpool. The business is profitable, according to the report. Founded in 2015, the company is based in Manchester.
Advisers
Company – Clearwater International (corporate finance).
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