NorthEdge Capital LLP, through NorthEdge Capital Fund II, invested £46.6 million in Catalis PLC in a deal valuing the London-based video games company at £90 million.
As part of the transaction, Catalis CEO Dominic Wheatley and Catalis shareholder Vespa Capital reinvested the majority of their shareholdings in the company.
Lower middle-market investor NorthEdge committed follow-on capital to support management's growth strategy. The funds will be used for the global expansion of Testronic, including the opening of a new location in New Orleans for Catalis' quality assurance services unit, and to support the development pipeline at Curve, Catalis' video games publisher division.
NorthEdge executives Ray Stenton and Phil Frame are set to join Catalis' board.
Tosca Debt Capital and HSBC provided debt facilities for the transaction.
NorthEdge advisers included GCA Altium, Eversheds, PwC and GT, while Catalis and management advisers included Zeus Capital, Squire Patton Boggs, Grant Thornton, Liberty and Integritas.