U.S. Markets closed

Outlier Acquires Interest and Board Seat With K1 Speed, the World’s Largest Indoor Kart Racing Operator

K1 Speed Racing Experience (Photo: Business Wire)

PHOENIX--(BUSINESS WIRE)--

David Tedesco announces the addition to Outlier’s Entertainment Group

Outlier is excited to announce its investment in K1 Speed, the global leader in indoor kart racing. K1 Speed, which is known for having the latest in European zero-emission electric go-karts, is partnering with David Tedesco and the Outlier team to help navigate the next stage of the company’s aggressive growth. K1 joins Pump It Up and BounceU as the third brand in Outlier’s Entertainment Group.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191031005946/en/

“K1 Speed fits the Outlier model in that it is the clear leader within its industry. David Danglard and his team have done an incredible job growing and expanding the brand, and we are excited to be part of the next phase of its development,” stated Outlier CEO David Tedesco. “Because we own niche-leading businesses within the entertainment sector, there is a clear synergy with our experience and the K1 Speed business.”

Founded in 2003 by David Danglard, K1 Speed is the world’s largest indoor kart racing operator with 42 locations that cater to a wide audience, including casual consumers, racing enthusiasts and corporate or group events. K1 has expanded its operations internationally, with locations in 10 different countries across the globe.

“We are at an exciting time in our company’s evolution, with aggressive expansion both within the US and around the globe,” stated Danglard. “We look forward to leveraging Outlier’s franchise and expansion experience as we continue on this growth trajectory.”

To address the international demand for K1 Speed, it started its International Franchise operation in 2016. K1’s international expansion has included opening locations in France, Mexico, South Korea, Canada, China and Puerto Rico. Panama, Italy, and Kuwait are next to open a location, while many other countries have signed up and are currently in the planning phase.

ABOUT OUTLIER

Outlier is an international conglomerate founded by David Tedesco and headquartered in Phoenix, Arizona. It has over $1B in revenue, 1,000 locations and 12,000 team members worldwide through its businesses that span multiple industries. Among its portfolio companies are Passport Health, the world’s largest provider of travel medicine and immunization services; Realty Executives International, one of the world’s largest real estate franchise systems; Pump It Up and BounceU, the largest provider of private kids’ birthday parties in the US; Anmark, the global leader in Curvic coupling manufacturing and equipment for the aerospace and defense industries; inDispense, a robotics and telemedicine platform for prescription medicine dispensing; and Atlas Packs, the world’s top-rated photography backpack.

ABOUT K1 SPEED

Founded in 2003, K1 Speed is the world’s largest indoor kart racing operator with 42 locations that offer a unique upscale entertainment concept for casual racers, racing enthusiasts and corporate or group events. K1 Speed is the first choice for anyone who wants to experience genuine racing in state-of-the-art zero-emission electric karts that provide superior performance to traditional gas karts, are eco-friendly and safety-oriented. Each K1 Speed location is designed as a large entertainment venue with professionally designed tracks and cutting-edge décor showcasing authentic racing memorabilia along with ample seating and viewing areas, spacious lobbies, meeting rooms and a place to eat and drink.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191031005946/en/