White & Case advises Kindred Concepts Limited on US$130 million growth debt financing

Global law firm White & Case LLP has advised Kindred Concepts Limited, trading as F1® Arcade, on a US$130 million growth debt financing provided by several private credit funds.

White & Case partner Jeremy Duffy, who led the Firm’s deal team, said: “This highly successful growth debt financing is the DRS that will fuel F1® Arcade’s already rapid global expansion.”

The financing will support F1® Arcade’s global expansion of F1® Arcade, building on its success in both the UK and US.

F1® Arcade is the world’s first F1® experiential hospitality brand. Backed by Formula 1 and Liberty Media, F1® Arcade opened its first venue in London in 2022, followed by Birmingham. In April 2024 the brand launched its first US site in Boston Seaport. As part of an ambitious roll-out plan, F1® Arcade is set to open a site in Washington, DC in the autumn of 2024 and a flagship site in Las Vegas in 2025. The concept includes a state-of-the-art F1 racing simulator experience coupled with an exceptional hospitality offering, perfect for groups, families or corporate entertainment.

The White & Case team that advised on the transaction was led by partner Jeremy Duffy (London) and included partners Elizabeth Kirk, David Dreier (both New York), Eugene Leone (Chicago & New York) and Will Smith (London), counsel Amy Kurland (Chicago) and associates Prema Govind, Ally Hammond, Ross Leung Power (all London), Emily Brewster, (New York) and Jessica Snowy Chen (Los Angeles). Houlihan Lokey acted as financing advisor to F1® Arcade.

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