Lights, camera, action for Luke Johnson and cinema chain

Experienced leisure entrepreneur Luke Johnson has headed up a buy-out of independent cinema chain The Light.

Johnson and his private equity firm Risk Capital Partners have also set out an ambitious growth plan, backed by a restructured banking facility. They want the business to double in size over the next two years and claim £15m will be invested. Irish-based cinema and leisure investor Melcorpo also has an undisclosed stake in the business

The Light, which has 13 venues across the UK, including Bradford and Sheffield, has developed a unique entertainment model which includes bowling, mini golf, interactive darts, climbing and karaoke in addition to its core cinema offering. It was previously backed by Connection Capital.

Johnson (pictured) said: “I have spent 40 years building businesses in the leisure and hospitality sectors, ranging from Pizza Express to Gail’s.

Luke Johnson

“We think the combination of cinema together with competitive socialising is a compelling offer for both consumers and landlords and believe the disruption facing the cinema industry provides opportunities.”

It has been a busy time for Johnson, who was chairman of Patisserie Valley in 2019 when arrests were made by the Serious Fraud Office. Last month he became chairman of struggling bar chain Revolution, which he has a 20% stake in.

He added: “The Light model offers a long-term, exciting solution to the challenges facing high street and existing cinema locations rather than short term fixes.

“Risk Capital Partners is thrilled to be part of the next phase of The Light’s journey, harnessing the power of cinema to bring their game-changing offer to more places across the UK.”

Bernard Dale of Connection Capital added: “The business has grown well during our period of investment, developing and launching the successful destination entertainment concept.

“Risk Capital’s investment will enable further UK sites to be opened and we are delighted to retain an interest in the business as this rolls-out.”

James Morris, CEO of The Light said: “I am delighted Luke and Brian (Gilligan of Melcorpo) have chosen to invest in The Light which allows us to release our exciting plans for the business.

“Achieving ambitious growth cannot be achieved without great people and a positive culture, a founding principle at The Light. We have so many amazing people in our business who share our vision and values and exceptional, talented leaders, who I am so proud we have been able to attract.”