“We had a group that was very demanding from an operational perspective and structurally complex. An offer came in from a third party to acquire a number of businesses in the group and the opportunity to sell made sense for the future of those businesses and for the stakeholders. Delivering the deal was a major challenge. We had to present the business in the right way, deal with complex tax, legal, financial and competition issues, a heavy due diligence process and the re-structuring of the remaining business. We were short of resource at board level and John was introduced by the Chairman to act as Project Director working closely with me during the process.
John had to get up to speed very quickly and his wide experience of transactions was extremely valuable. John showed exceptional levels of commitment over many months and a great ability to strike positive relationships with senior executives throughout the group and with our professional advisers. This meant that we were always making progress towards completion within a very high pressure environment.”
Richard Still – finance director
Danoptra Limited was the holding company for a range of substantial businesses operating in the in the gaming and leisure industry that together generated turnover in excess of £100m and employed over 2,000 staff. An approach was received from Astra Games (part of the Austrian gaming giant, Novomatic) to acquire the gaming businesses of Danoptra including the iconic Bell Fruit Games.
Skye Corporate Finance was appointed to provide wide ranging support to the main board of Danoptra in preparing for, undertaking and completing the transaction. This included drafting the information memorandum, managing the due diligence and disclosure process and liaising with the purchaser and all external professional advisers.