PAI Partners enters talks to buy Asmodee

Published on: 23rd July 2018

The group is reportedly seeking to purchase Asmodee from owner Eurazeo for €1.2b including debt. 

As reported by the Financial Times, the private equity group PAI Partners has entered exclusive talks to buy Asmodee. Two people familiar with the transaction have reported that PAI is looking to purchase the games company for €1.2b from its owner Eurazeo. Asmodee was bought by Eurazeo in 2014 for €143m.

Having previously relied on France for nearly half its sales, under Eurazeo the company has increasingly generated its revenues from international markets and has operations in Europe, North America and China. Last year, Asmodee reported a 17% rise in revenues from the year before,

The company had reportedly attracted the interest of other private equity groups, including BC Partners and CVC, which had teamed up  to make an offer with Kirkbi, the wealth fund for the Danish family owner of Lego.

Asmodee’s new owners are expected to grow its digital offering on platforms such as Apple’s App Store and Google Play, and to build the business through acquisitions, according to the sources. The new owners would also be likely to pursue a strategy similar to that of Lego in developing movie or comic franchises based on Asmodee’s games.

The deal would remain subject to regulatory approval.


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