Phoenix-based Outlier acquires interest in K1 Speed
Outlier announced 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.
“K1 Speed fits the Outlier model in that it is the clear leader within its industry. David 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.