NOVOMATIC UK, (the wholly owned UK subsidiary of Austrian Gaming Industries GmbH, (AGI) part of the NOVOMATIC Group) has acquired the business of Playnation from Palatine Private Equity for an undisclosed sum.
Playnation, headquartered in Runcorn, Cheshire, is a provider of family entertainment solutions to the leisure industry. The business comprises 20,000 amusement machines operated over 1,700 UK sites including holiday parks, motorway service stations, bowling alleys, family pubs and airports. It currently employs circa 800 people.
Zane Mersich, CEO of NOVOMATIC UK commented on the deal: “We are delighted to announce this acquisition which has the potential to take the group in exciting new directions. Playnation is a perfect fit within the NOVOMATIC UK group of companies and their respective brands. It will form an important part of the business and help to shape our future strategy in the UK leisure and gaming space.”
Playnation CEO Adam Hodges, who will remain with the company, stated: “The NOVOMATIC brand is widely acknowledged here in the UK and around the world for its capacity to innovate and drive up standards. Playnation shares those values and, as such, is an impeccable match for the NOVOMATIC UK business model.”
Beth Houghton, investment director at Palatine Private Equity, said:“Since our investment in Playnation we have seen the business achieve exceptional growth in the family entertainment sector, capitalising on the buoyant market conditions. With the business now at a point in its growth cycle where an international buyer can take it onto the next stage, Novomatic is the perfect strategic partner to help achieve Playnation’s long-term objectives. I have enjoyed working with Adam and the management team and wish them all the success for the future.”