M&A Deal Summary

K1 Speed Acquires Autobahn

On January 10, 2024, K1 Speed acquired leisure company Autobahn from Praesidian Capital

Acquisition Highlights
  • This is K1 Speed’s 2nd transaction in the Leisure sector.
  • This is K1 Speed’s 2nd transaction in the United States.
  • This is K1 Speed’s 1st transaction in Maryland.

M&A Deal Summary
Date 2024-01-10
Target Autobahn
Sector Leisure
Buyer(s) K1 Speed
Sellers(s) Praesidian Capital
Deal Type Add-on Acquisition
Advisor(s) EFA Partners (Financial)

Target

Autobahn

Jessup, Maryland, United States
website
Autobahn is an operator of indoor go-karting racing tracks. Autobahn was founded in 2012 and is based in Jessup, Maryland.

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Buyer(S) 1

Buyer

K1 Speed

Irvine, California, United States

website

Category Company
Founded 2003
Sector Gaming
DESCRIPTION

K1 Speed is the nation’s largest operator of indoor go-kart racing tracks, with eight locations in Southern California, Seattle, Phoenix and Ft. Lauderdale. K1 offers electric kart racing which caters to novices, auto racing enthusiasts, racing professionals and corporate events.

DEAL STATS #
Overall 2 of 3
Sector (Leisure) 2 of 3
Type (Add-on Acquisition) 2 of 3
State (Maryland) 1 of 1
Country (United States) 2 of 3
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-02 Pole Position Raceway

Corona, California, United States

Pole Position Raceway creates an exciting environment where casual drivers and professional racers have a chance to test their skills against one another on equal terms, and to introduce new people to the dynamic world of motorsports while giving hard-core racers and fans an experience that they will want to share with friends. Pole Position Raceway was formed in 2005 and is based in Corona, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-23 Speed Circuit

Chula Vista, California, United States

Speed Circuit is an electric kart racing operator, based in Chula Vista, California.

Buy -

Seller(S) 1

SELLER

Praesidian Capital

Oklahoma City, New York, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Praesidian Capital is a mezzanine debt provider for middle-market companies throughout the US and Europe. Praesidian looks to provide junior capital to businesses with revenues between $3 and $100 million and EBITDA between $250k and $20 million. Capital is typically used to support acquisitions, management/leveraged buyouts, recapitalizations, and restructurings. Praesidian will not invest in oil & gas exploration, financial services, real estate, or start-ups. Praesidian Capital was formed in 2002 and is based in New York City.

DEAL STATS #
Overall 28 of 29
Sector (Leisure) 1 of 1
Type (Add-on Acquisition) 10 of 10
State (Maryland) 1 of 1
Country (United States) 26 of 27
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-28 Worldwise

Novato, California, United States

Worldwise is a provider of innovative, more environmentally sustainable pet products and accessories. Worldwise was founded in 1991 and is based in Novato, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-19 Biologos

Montgomery, Illinois, United States

Biologos is a provider of sterile-filtered biological products (sera, reagents, buffers, cell culture media and other liquid solutions), primarily for veterinary pharmaceutical and organ transplant applications. Biologos was founded in 1976 and is based in Montgomery, Illinois.

Sell -
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