XP Factory (XPF): Disposal of Boom Battle Bar

This situation live

XPF XP Factory

£26m · 14.7p · +28% since the first step

9 Dec 2025 · Board actively considering buybacks · +33% until the next step The board is therefore actively considering allocating an element of capital to share buybacks whilst returns remain attractive.

2 Feb 2026 · Roll-out slowed to preserve facility headroom · +11% until the next step provide greater flexibility in capital allocation decisions.

12 May 2026 · Full-year Boom LFL -8%, slightly better than sector -9% · +17% until the next step O&O LFL decline: -8%, modestly ahead of the competitive socialising industry which experienced a LFL decline of -9%3 in the comparable period

7 Sep 2026 · New Chairman prioritises capital allocation; net debt £5.9m · −1% until the next step One of my principal responsibilities as Chairman is to ensure we maintain a disciplined focus on capital allocation - a priority that can easily lose clarity over time.

28 Sep 2026 · Completed on signing 28 September · −19% since From today, Escape Hunt has all of our capital and all of our focus.

Disposal of a part (break-up)

Disposal of Boom Battle Bar

Completed on signing 28 September

Next: transitional services handover and separation

Every step · 5

9 Dec 2025 Board actively considering buybacks – The board is therefore actively considering allocating an element of capital to share buybacks whilst returns remain attractive. ↗
2 Feb 2026 Roll-out slowed to preserve facility headroom – provide greater flexibility in capital allocation decisions. ↗
12 May 2026 Full-year Boom LFL -8%, slightly better than sector -9% – O&O LFL decline: -8%, modestly ahead of the competitive socialising industry which experienced a LFL decline of -9%3 in the comparable period ↗
7 Sep 2026 New Chairman prioritises capital allocation; net debt £5.9m – One of my principal responsibilities as Chairman is to ensure we maintain a disciplined focus on capital allocation - a priority that can easily lose... ↗
28 Sep 2026 Completed on signing 28 September – From today, Escape Hunt has all of our capital and all of our focus. ↗

What is happening

XP Factory: Disposal of Boom Battle Bar – Completed on signing 28 September. ['Completed on signing 28 September']

Announced: 9 Dec 2025 · Board actively considering buybacks
Latest: 28 Sep 2026 · Resolved: capital directed to Escape Hunt rollout
Why: Focus all capital on rolling out Escape Hunt, which earns high returns, while Boom suits private ownership amid weak competitive socialising conditions.
Value: £11.0m · 43% of market value – maximum total consideration for Boom: £5m upfront cash plus up to £6m earn-outs over three years
Buyer: F.O Twenty-Four Ltd
The business: Profitable · FY26 revenue £42.4m; adjusted pre-IFRS 16 EBITDA before central costs £7.4m; net book value c.£21.3m
Use of money: Repay debt, working capital, reinvest in the business
What it changes: XP Factory becomes a pure Escape Hunt rollout story with lower debt and a smaller RCF. Group EBITDA targets reset much lower, and Boom's value now depends on earn-outs.

What comes next

transitional services handover and separation.

From the company's own announcements. Not investment advice.

Briefing

XP Factory in 4 minutes

XP Factory ran two businesses: Escape Hunt, which sells escape-room experiences, and Boom Battle Bar, a chain of competitive-socialising venues. Boom brought about 70% of the company's £59.6m revenue in the year to...

Act 1Doubling in size, twice
Act 2Borrowing to speed up
Act 3Costs up, Boom sales down

Read the briefing →

Also at XP Factory 1 open

Upgrade / downgrade cycleFY26 EBITDA guidance cut; FY27 consolidation year – New post-Boom FY27 targets set Insider conviction1 director buying – £35k in 1 buy · closed XP Factory – company page →