Announced via the NorthEdge website earlier today, NorthEdge Capital, a private equity firm based in the UK, has acquired the Catalis Group. Catalis Group, which is also based in the UK, is the parent company of Testronic, a game QA and testing company, Kuju development studio, and Curve Digital, a video game publisher. Kuju is known for the development of a number of the Zumba games for the Wii and Rabbids Rumble through their UK studios Zoë Mode and Headstrong Games, respectively. Curve Digital is best known as the publisher of Human: Fall Flat. The upcoming Narcos: Rise of the Cartels is a joint effort by Kuju and Curve Studios as well.
According to the announcement, NorthEdge acquired the company for £90 million (roughly $113.5 million). “NorthEdge has invested £46.6m [$58.78m] through its acquisition vehicle Project Sword Bidco, whilst Vespa Capital, which has been a shareholder in Catalis since 2014, and [Catalis] CEO Dominic Wheatley have reinvested the majority of their shareholdings in Catalis as part of the transaction,” reads the announcement. NorthEdge will continue to support the growth of Catalis, especially continuing to grow Testronic globally, which is opening a new location in New Orleans, LA.
Both Catalis and NorthEdge are pleased with the transaction. “This is an important move for us. 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,” says Catalis CEO Dominic Wheatley. Wheatley’s goal is to see Catalis emerge as a major player in the global games business in the near future.
Director and Head of North West at NorthEdge Capital Phil Frame is also excited for the prospects of the acquisition. “We are pleased to complete the investment into Catalis and to be partnering with Dominic and team. They have an outstanding record of growth and have built a business of scale, operating on a global basis and with a first class reputation in the market.” Both Catalis and NorthEdge recognize the vast potential of the gaming industry and expect a profitable future now that the two companies are operating symbiotically.