Mon, 17 Nov 2014 | MBO/MBI
Sumo Digital, a game developer, has undergone an MBO as part of its plans to speed up growth.
Private equity firm NorthEdge has backed the MBO, which sees the existing management, including CEO Carl Cavers, COO Paul Porter, CFO Chris Stockwell and executive art director Darren Mills, take over the business from previous US media owner Foundation 9 Entertainment, which bought Sumo in 2007.
From its studio in Sheffield, Yorkshire, Sumo has developed some well-known titles such as Forza Horizon 2, Moshi Monsters: Katsuma Unleashed, LittleBigPlanet 2: Cross-Controller and Xbox Fitness. It has the license to develop for all the biggest gaming platforms including Xbox One, PlayStation 4, Nintendo Wii U as well as mobile and tablet.
For the year to December 13 it achieved sales of £13.2 million and operating profits of £899,042. Employing 240 people, it also has an office in Pune, India.
Commenting on the proceedings, Carl Cavers told thebusinessdesk.com: “With the imminent release of Little Big Planet 3 and a number of exciting projects under development, the business is in an extremely strong position. We are delighted to have completed the MBO and to be partnering with NorthEdge as we accelerate our growth strategy and cement our position as one of Europe’s leading game developers.”
_______________________________________________________________
Related information:
Business investment
Explore the chance to acquire a thriving recruitment agency located in South England, offering a robust client base and growth potential.
Exceptionally busy MOT testing station and vehicle repairs/servicing business which has been in the same hands for over 30 years and proved particularly profitable for the vendor.
A unique opportunity to acquire a reputable Yorkshire-based haulage business with a strong regional presence and significant growth potential.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.