H.I.G. Capital, an investment firm with $50 billion of equity capital under management, has announced that one of its affiliates has completed the acquisition of Family Entertainment Group. H.I.G. is partnering with George Smith, FEG’s founder and CEO, as well as the current management team, to “provide support and resources to take advantage of the company’s significant strategic growth initiatives across a large and rapidly growing end market.”

“We are thrilled to embark on the company’s next chapter of growth through our partnership with H.I.G.,” Smith said. “This partnership will allow us to continue investing in the technology and equipment required to deliver unique experiences for our customers. The company has tremendous opportunities to expand with new and existing partners and H.I.G.’s resources will help us continue our long track record of growth.”

Added Ryan Kaplan, managing director at H.I.G., “The acquisition of Family Entertainment Group represents an ideal opportunity to partner with the market leading provider of outsourced arcade operations. We are looking forward to partner with George, an industry pioneer, and the rest of the executive team as they look to accelerate the company’s growth.”

Learn more at www.higcapital.com and www.fegllc.com.