Wed, 08 Jan 2020 | DIVISION SALE
Online gaming platform operator Nektan Plc has announced that its administrators PCR London LLC have sold its UK B2C business to Grace Media for £200,000.
The sale forms part of Nektan’s wider restructuring and comes after the appointment of Mark Phillips and Julia Swan of PCR London as administrators earlier in the week.
The most recent audited accounts of Nektan’s UK B2C business date from the year ending June 2018 and show the business delivering turnover of £19.4 million and making a loss.
Additionally, Nektan has entered into a B2B partnership with Grace Media, which is part of the Active Win Group, in order to facilitate continued service delivery to its existing UK B2C white label partners, with Nektan receiving ongoing monthly royalties from Grace Media.
Nektan has said that the sale will have no operational impact on it or on any of its subsidiaries, which will continue trading as normal. It also said that the sale and restructuring would allow it to target emerging markets with a stronger balance sheet.
Nektan Interim Chief Executive Gary Shaw described the deal as “very reassuring to all stakeholders involved” and added: "We look forward to working in partnership through the business-to-business relationship with the buyer as they take the business forward."
Active Win Group Chief Executive Warren Jacobs said: "The opportunity to acquire the UK B2C business allows Active Win Group to expand further into the UK online casino market, furthering our growth in this market from being a white label operator ourselves, to working with the full complement of business partners established by Nektan in recent years.”
Turnover and profit has continued to increase during the ongoing Covid-19 pandemic, demonstrating huge potential for expansion. Highly reputable business operating for over six years. Specialises in the design of high-quality, luxury MPV interiors. M...
LEASEHOLD
Manufacturer importer & distributor of organic cosmetic skincare & body care products & ingredients. Sources key products including shea butter from exclusive suppliers throughout the world.
Established online and call-centre based tour operator and travel agent offering short breaks that combine hotel rail theatre and attraction options across the UK. The company benefits from an enviable industry reputation underpinned in its B2C sales...
|
15
|
|
Jan
|
Buyer sought for portfolio of pubs | BUSINESS SALE
Five pubs that formerly operated under the Authentic Alehous...
|
14
|
|
Jan
|
Acquisitive RSK Group completes trio of deals | BUSINESS SALE
Cheshire-based technical services consultancy RSK Group has ...
|
13
|
|
Jan
|
Heat transfer equipment manufacturer falls into administration | ADMINISTRATION
Coventry-based Covrad Heat Transfer has fallen into administ...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources