By: 10 January 2020
Blacks Solicitors oversees PE investment in Roxy Leisure

Blacks Solicitors has overseen and helped coordinate the £7.5 million investment in Leeds-based hospitality company Roxy Leisure. 

Roxy Leisure operates a number of venues across the country that offer in-bar activities including ping-pong, bowling, mini-golf, shuffleboard, arcade gaming and karaoke, under the trading names Roxy Ball Room, Roxy Lanes and Roxy Arcade. 

Chief executive officer Matthew Jones and commercial director Ben Jones, who founded Roxy Leisure in 2013, have secured a £7.5 million investment from Foresight Group.

The investment will lead to further expansion for the Leeds-based business across the UK, including new venues opening in Birmingham, Manchester and Nottingham in 2020.

The corporate team at Blacks were selected to advise Roxy Leisure from a shortlist of mid-tier Leeds law firms due to its expertise in private equity funding.

Head of corporate law Nigel Hoyle led the team of Dave Paterson, Lewis Goodwin and Hayley Blackburn.

Hoyle commented: “I’m extremely proud of my team for being selected to advise the Jones family in seeking investment to take the Roxy brand to new heights. Despite the challenge of meeting a tight deadline, everyone involved at Blacks ensured the deal was completed smoothly.”

“It was a pleasure working with all involved and we will be eagerly watching, and supporting, the continued growth of the company into new areas of the UK.”

Matthew Jones added: ‘Nigel, Hayley and the team at Blacks worked around the clock to ensure our business deal could reach its deadline. The deal was far from simple but Blacks guided us through the formalities and ensure we were protected as best as possible going forward. The communication was clear and concise, I had every confidence that we had chosen the correct law firm to act for us.”

Mike Quinn, director at Foresight Group, said: “Roxy is well-positioned to accelerate its growth and we are excited to add our support and guidance to the company. Matt and Ben have built a successful business with a good corporate culture and we look forward to working with them to take Roxy through the next stage of its growth.”

“The commercial approach of everyone at Blacks contributed significantly to getting this deal across the line in a short timeframe, which was very much appreciated by Foresight and the management team.”

Blacks worked closely with Rob Jones and Quinn at Foresight and Will Stanton, Benn Longshaw and Stuart Dutton at financial consultant Sedulo to ensure the investment was completed successfully.

The law firm supported the purchase of Grade II-listed Hope Foundry on Mabgate in Leeds on behalf of Music and Arts Production (MAP) Charity late last year.