The Weekender: Purchases and Portents

The Weekender: Purchases and Portents

July 22, 2018 Off By Dan
Welcome to The Weekender, where we freestyle a little about what was good, what was bad, or what was notable about last week. This time, we look at Asmodee’s pending sale from Eurazeo to PAI Partners.

Asmodee is huge, in board game terms.They own a large spectrum of the publishers for your favorite games.

The current board game golden age in the US and other countries around the world has spawned tremendously successful hits like Splendor, Ticket to Ride, Catan, X-Wing, Pandemic. All of those are owned by Asmodee. And now it’s time for parent company Eurazeo to cash in on their bounty, for an ‘enterprise value’ of 1.2 Billion Euros. Hot damn.

We knew Eurazeo was courting a sale back in May, from this Reuters article. At the time, they were looking to value the sale at 1.5 billion euros. Now it looks like they’ve found a buyer, and they want to finalize the sale by the end of the year. I found out about the potentially pending sale from the fine folks at Bell of Lost Souls. From their article:

Eurazeo is a multinational, publicly-listed private equity firm based in Paris, France. They are the current owners of Asmodee.

PAI Partners is a major European private equity house and is the leading private equity investor in the French market.

Eurazeo often brings their wholly owned companies to market and cash’s out via an IPO.  The sale of Asmodee to PAI Partners is a change from the norm. Asmodee after years of acquisitions now has a huge stable of products ranging from Catan to X-Wing. Note that PAI is the only buyer in talks with Eurazeo. The company hopes to have the deal done by Q4, so it must be quite advanced at this time.

On it’s cover, the idea of the largest player in the game selling off… the game, to another private equity investor, could make cause for concern. However, the sale doesn’t make me nervous about the state of tabletop gaming. PAI Partners, even though they’re the only potential buyer in discussion with Eurazeo, strikes me as the sort of company that wouldn’t make such a large investment if the floor was about to drop out from under it.

Personally, I’ll be following this sale through in the news. It’ll be interesting to see what Eurazeo does with all those good good games. That’s all for now. Until next time, have a great weekend and remember to get a game in.