RAL hits the jackpot with latest deal
May 2005
RAL, the group behind the Quicksilver High Street chain of adult gaming centres, has been acquired by the recently AIM-listed Talarius plc for £39 million.RAL is the UK’s largest operator of licensed High Street adult gaming centres, with 5,500 gaming machines in 129 locations, together with a fast growing interactive gaming division operating under the ‘Cyberslotz’ brand.
Simon Cope-Thompson and Alex Sheffield of Livingstone advised Talarius plc and the management team, assisting in the negotiations and the fund-raising exercise. This is the third deal that Livingstone has concluded with the team at RAL, having previously sold the business to management on behalf of Rank Group plc in 1996 and advised management on the secondary management buy-out of the business in August 2003, backed by PPM Ventures.
Nick Harding, CEO of RAL, who becomes CEO of Talarius, said: “I was delighted to have the support and guidance of Simon and Alex in this transaction. Having worked together on both the previous deals, we have built up a close working relationship with the team at Livingstone; coupled with their detailed knowledge of our sector, this proved invaluable in assisting the Talarius team in making this happen. I would have no hesitation in recommending Livingstone to any management team looking for advisors with commercial savvy, enthusiasm and an ability to get things done efficiently.“
Benjamin Shaw, Director of Talarius plc and Marwyn Capital commented: “Building on their deep understanding of the business Livingstone's team approach to working with us and the numerous other parties involved in this deal has been key to the expedient and effective completion of Talarius’ acquisition of RAL.”
Simon Cope-Thompson, partner at Livingstone, who led the corporate finance team advising Talarius, said: “With 60% of the country’s adult gaming centre market still highly fragmented, we are looking forward to advising Nick and his team on further.”
Simon Cope-Thompson, partner
Tel: 020 7484 4706
Email: sct@livingstonepartners.co.uk
Alex Sheffield, director
Tel: 020 7484 4734
Email: asheffield@livingstonepartners.co.uk
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