CVC Capital Partners, a Jersey-based private equity firm with significant interests in global sports and entertainment brands, looks set to acquire a 100% stake in leading industry test lab Gaming Laboratories International (GLI).
Details of the acquisition appear in two antitrust filings – one in Austria and one in Malta – entered earlier this month which reveal that CVC, through a UK-based affiliate called Avalon Buyer Limited, intends to take sole control in GLI as well as GLI affiliates Worldwide Laboratories LLC and Kobetron LLC.
The development was first reported by iGaming Business.
The Austrian filing, dated 3 July, explains that Avalon Buyer Limited “intends to acquire more than 50% of the shares in and sole control over” GLI, Worldwide Laboratories and Kobetron, adding that companies whose “legal or economic interests are affected by the merger” have until 31 July to submit written comments.
It notes that the target companies concern “testing, inspection and certification services for the gaming industry”.
The Malta filing, dated 11 July, similarly cites the “acquisition of sole control” of the GLI entities which it notes “provide testing, inspection and certification services to the global regulated gaming industry.
GLI’s services, it adds, include “gaming testing, pre-certification quality and performance testing, test automation, cybersecurity & professional services, research & development services, training & education services, responsible gaming services, forensics and jurisdictional regulatory advisory support.”
Avalon Buyer Limited is described as a newly incorporated investment vehicle indirectly owned and financed by CVC Funds, which “hold interests in a number of companies active in a variety of industries around the world, including in financial services, chemicals, utilities, manufacturing, retailing and distribution, in Europe, the US and the Asia-Pacific region”.
GLI would not comment on the acquisition when contacted by Inside Asian Gaming on Wednesday, and the filings don’t reference any financials around the deal.
GLI, founded by James Maida and Paul Magno in New Jersey in 1989, celebrated its 35th anniversary last year. The festivities doubled as the 30th anniversary of GLI Australia, where the company opened its second office – and first international office – in Adelaide in 1994.
GLI now boasts around 1,800 staff based in 35 jurisdictions globally.
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