Playnation seals first acquisition
PLAYNATION, the supplier of amusement and entertainment machines, has acquired Birmingham-based operator Fun House Leisure (FHL).
It said its first deal would extend its reach in the “family-focused” leisure sector where FHL has 1,600 machines with customers such as Whitbread, Spirit Pub Company, Orchid, Greene King and Odeon.
The value of the deal was not disclosed but Companies House records show FHL had net assets of £850,000 in the year to June 2013. It has sales of £3m and 15 staff. The business was owned by a holding company controlled by Nasser and Zarina Ghanchi.
Playnation’s chief executive Adam Hodges said: “2014 has been a great year for us and we have worked hard to find the right company for our first acquisition. FHL has a great team and is a well-established operator with a customer base that is complementary to our own. We are confident it will expand our reach in the family-focused leisure sector.”
FHL’s chief executive Nasser Ghanchi said: “We’ve known the Playnation management team for a long time and believe that the FHL business will flourish under its new ownership. Playnation’s national service support operation and its central commercial functions can only build and improve on the great service that we currently provide to our customers in the hospitality and leisure sector. We are looking forward to an exciting year ahead.”
Playnation was part of the US group Inspired Gaming until it was acquired by Manchester-based Palatine Private Equity last year.