Novomatic UK, the British subsidiary of Austrian gaming giant Novomatic Group, announced that it has acquired the business of arcade game manufacturer Playnation from Palatine Private Equity for an undisclosed sum.
Playnation, headquartered in Runcorn, Cheshire, is a provider of family entertainment to the leisure industry. The business comprises 20,000 amusement machines operated at over 1,700 U.K. sites that include holiday parks, motorway service stations, bowling alleys, family pubs and airports. The company currently employs 800.
“We are delighted to announce this acquisition that has the potential to take the group in exciting new directions,” said Zane Mersich, CEO of Novomatic UK. “Playnation is a perfect fit within the Novomatic UK group of companies and their respective brands. It will form an important part of 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, added, “The Novomatic brand is widely acknowledged both here in the U.K. 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, noted, “Since our investment in Playnation, we have seen the business achieve exceptional growth in the family entertainment sector, capitalizing on the buoyant market conditions. With the business now at a point in its growth cycle where an international buyer can take it on to 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 every success for the future.”
