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Private equity firm Northedge Capital has acquired the video games company Catalis in a deal worth £90m.
Northedge has invested £46.6m in Catalis, while major backer Vespa Capital and chief executive Dominic Wheatley have reinvested their shareholdings in the company as part of the transaction.
“Bringing Northedge in to help us grow and continuing to enjoy the support of Vespa Capital is a strong endorsement from two private equity houses. Our ambition is to build the next major UK owned games business to rival those based in other parts of the world. We have the right team and financial backing to take Catalis to the next level,” Dominic Wheatley, CEO of Catalis said.
As part of the deal, Northedge has pledged to provide follow-on capital to support the global expansion of the firm’s testing business, including the opening of new offices in New Orleans.
“We look forward to working with the team at Catalis to further build on its international footprint, supporting its growth both organically and through acquisition. This strategy, which will commence with the imminent launch of a new site in New Orleans, will allow us to strengthen the company’s foothold in key markets such as Europe, North America, and Central America, and ultimately build market share in a sector valued at $135bn a (£107bn) year,” Phil Frame, director and head of north west at Northedge said.
Source: Latest News on European Gaming Media Network
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