A couple of months ago, Reuters reported that according to un-named sources, investment bankers had been hired to run the sale of Asmodee. The claim was that the sale “could value the company at over €1.5 billion”, but there was no credible information as to who the potential buyers were. This mystery has now been solved with the announcement that PAI Partners have entered into exclusive discussions to acquire Asmodee, a company with an enterprise value of €1.2 billion. So, who are PAI Partners and what do they want with Asmodee? Well, PAI is a European private equity company, that grew out of the merger between the French banks, BNP and Paribas in 1993, with a management buyout completed in 2001. They have invested in a wide range of companies covering everything from yoghurt (Yoplait) to tyres (Kwik Fit) to cargo handling (Swissport). Obviously PAI are interested in making money from Asmodee, but at this time there is no evidence to suggest that would by by asset stripping. Price increases would be almost inevitable however, as the Studios would be under pressure to provide a good return on the investment.
|– Image from paipartners.com|