Brighton Pier Group, chaired by seasoned private equity executive Luke Johnson, is set to exit London’s Alternative Investment Market and revert to private ownership following a strategic review of its listed status.

The company, which owns Brighton Palace Pier, several bars, mini-golf venues, and Lightwater Valley theme park, cited rising operational costs, weak consumer spending, and market volatility as drivers behind the decision. A key factor in the move was the “disproportionate” cost of remaining listed—estimated between £250,000 and £300,000 annually—which the board said would be better directed toward growth initiatives.

Johnson, who holds 27% of the company’s shares, has a long history in private equity-backed hospitality deals, having previously led Pizza Express and Patisserie Valerie.

The group said AIM’s limited liquidity and low trading volumes created inefficiencies for shareholders and exposed the business to unnecessary market risk. The delisting plan will be put to a shareholder vote on 22 April, requiring 75% approval. If approved, the group will formally delist on 2 May.

This move adds to a growing trend of companies exiting AIM, with 71 firms delisting over the past year—bringing the number of listed entities to its lowest level since 2001.