Catalis deal brings TDC’s total deployment to more than £300m

30/10/2019

Tosca Debt Capital (“TDC”) has completed an investment into leading independent video game company Catalis Group to support its acquisition by NorthEdge Capital in a deal that values the business at £90m. The investment into Catatlis represents the regional debt provider’s 15th deal from its c.£240m Fund II.

Catalis provides a range of services within the gaming market through two divisions: Curve Digital and Testronic. Curve is a publisher of independent video games across all major console and PC platforms, whilst Testronic provides quality assurance services to the games publishing and film and TV markets.

Catalis has a number of game releases planned for the coming months including Narcos: Rise of the Cartels, A Knight’s Quest and Peaky Blinders, to compliment a catalogue of titles that includes Human: Fall Flat, which has sold more than seven million copies to date.

Dominic Wheatley, Chief Executive Officer of Catalis, said: “This is an important move for us. Our ambition is to build the next major UK owned games business to rival those based in other parts of the world. We have the right team and financial backing to take Catalis to the next level.”

The transaction was led by TDC Partner, Gary Davison, with support from Investment Executive, Tom Chappell.

Gary Davison said: “Catalis is perfectly poised to capitalise on the gaming industry’s remarkable growth over recent years and we’re looking forward to working with the management team to realise the massive potential of the business.”

TDC is the UK’s only regionally based debt capital provider with a clear focus and commitment to supporting entrepreneurial SMEs and quality management teams with untapped growth potential. To date, the Manchester-based team at TDC have completed more than 25 investments and deployed in excess of £300m across two Funds.

DLA Piper provided legal advice to TDC on the transaction.