Knockout deal as ThinCats support London-based recreational events company
ThinCats has provided £250,000 of funding to London-based The Event Corporation (TEC).
Founded by the former airline pilot turned entrepreneur, James Sweetnam, The Event Corporation is a UK-wide specialist event company providing activities and experiences for families, groups and corporates. These range from escape rooms and hot air balloon rides through to It’s A Knockout.
The funding will be used to help launch the company’s latest venture called Play at Pins. Opening its first site in Cardiff in late November, Play at Pins brings a twist on the concept of traditional tenpin bowling, where people can also experience an escape room followed by an evening of high-end cocktails and food provided by Shake Shack.
ThinCats’ funding allows the flagship site to open ahead of the busy Christmas period.
The business currently has a turnover in excess of £2.5m but is now in a high-growth stage aiming to achieve £20m plus in the next few years.
James Sweetnam, founder and director, The Event Corporation: “We’re a fast growing company in a wide consumer and corporate market. The decision to move beyond escape rooms is to meet that appetite. This funding is good for the company and importantly our employees as they can now focus on continuing to grow the business. ThinCats have been superb. I’ve found that banks support entrepreneurs on a traditional basis, but if it doesn’t meet their criteria they’ll likely say no. ThinCats understand entrepreneurs and are helping us to deliver our future plans. I look forward to working with them in future.”
Andrew Tapsell, regional business development director, ThinCats: “It’s been great to work with James. It’s an excellent business with a strong regional and growing national presence.”
Sean Gardner, finance broker, Halo Corporate: “Halo Corporate Finance are delighted to have been able to support The Event Corporation through the next stage of their development. From the start they impressed us with their fast growth underpinned by a strong business model. Our strong working relationship with ThinCats was critical in pulling the funding together, enabling TEC to take this important step on their journey.”
