K1 Speed Accelerates European Expansion with Capital Karts Acquisition

K1 Speed's acquisition of Capital Karts will power the growth of indoor electric go karting across the UK and Europe

LONDON, May 9, 2024 /PRNewswire/ -- K1 Speed, Inc. ("K1 Speed"), the premier indoor electric kart racing brand, today announced the acquisition of Capital Karts, the fastest indoor go karting track in the UK, based in London. This significant acquisition enables K1 Speed to continue to accelerate its growth and become a key player in the UK and Europe.

K1 Speed was founded by David and Susan Danglard in 2003. In over 20 years, the industry pioneers opened K1 Speed's first location in Carlsbad, CA and have successfully scaled the business to 92 racing centers across 30 states and 8 countries as of May 2024. The US-founded company continues to make significant investments to expand its global footprint and the latest acquisition of Capital Karts will further bolster K1 Speed's plans to grow its go karting business in Europe.

David Danglard, CEO and President of K1 Speed said, "We have been focused on aggressive growth for K1 Speed in the last year, and Susan and I are proud of the milestones the business has achieved across the US thus far. We're thrilled to expand our business into the UK and Europe and to achieve the dream of becoming a global motorsports powerhouse."

Capital Karts specialises in professionally designed go-kart race tracks and a fleet of karts that offers go-karting sessions along with video recording and time tracking systems. Currently, Capital Karts has one venue in central London (Canary Wharf) and three additional venues under development across Central London (Vauxhall), Birmingham and Glasgow, set to open by the end of 2024. With the added value provided by K1 Speed, there are large expansion plans in progress across several countries in Europe.

In the last year, K1 Speed has made significant investments in the US including the acquisition of Autobahn Indoor Speedway ("Autobahn"), Accelerate Indoor Speedway ("Accelerate"), Speed Raceway, Tampa Bay Grand Prix, Speed Circuit, and Free Minds ("Freem"). The company is doubling down on its expansion across the US in tandem with new locations underway in Europe. K1 Speed has 10 US locations in development and is expecting to have 100+ locations open globally by year-end.

About K1 Speed

K1 Speed is the premier indoor electric kart racing brand. The family-owned business was founded by David and Susan Danglard in 2003 with the goal of bringing European-style electric kart racing to North America. The platform's 92 kart racing centers span 30 states and 8 countries as of May 2024. K1 Speed's unique entertainment concept operates racing centers that feature electric karts, which provide superior safety, performance and environmental benefits over traditional gas-powered models. The brand appeals to a broad consumer base, including men and women of all ages, and targets arrive-and-drive customers, private parties and corporate events. In addition to electric karting, K1 Speed centers offer food and beverage options through its onsite Paddock Lounge concept, racing simulators, arcade games, race gear, racing leagues and championship events.

For more information about K1 Speed, visit www.k1speed.com

For more information about K1 Circuit, visit www.k1circuit.com

For more information about K1 RaceGear, visit www.k1racegear.com

SOURCE K1 Speed INC