Investee Company – SSD Holding AB (Sweden)
Investee Company Business Type – Wholesaler of PC and TV Games in the Nordic region
Type of Financing – MBO
Equity Providers – Baltic Rim Fund and 6th AP-fund
Equity Leader (Individual) – No equity leader
Debt Providers – No debt provided
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – SEK15 million (euro1.6 million)
Total Deal Value – SEK15 million (euro1.6 million)
Other Advisors – Exclusive advisor was Euroventures
Comments – Gameplay Sweden’s management has acquired the company from its UK owners, Gameplay PLC to form a new company spin off, SSD Holdings AB, which will continue supplying PC and TV Games to the Nordic region. Both the Baltic Rim fund and the 6th AP-fund funded this management buyout, with a euro1.6 million investment.
Lars Wingefors, managing director, founded the company, now known as SSD Holdings AB, in 1994. He said: “I am very glad to once again become owner in the company that I founded seven years ago, and to have the support of such a strong and reputable investor as Euroventures.”
The new company will continue to focus on expansion and increase its market share on the Nordic distribution market for PC and TV Games, with brands such as Sony Playstation 1 & 2, Nintendo Gamecube, Gamboy Advance, and Microsoft X-box. The company is planing to find new owners for the business section that sells directly to consumers, and aims to have this competed by the summer of 2001.