Setterwalls and Muckle LLP advised Thunderful Group AB.
Thunderful Group AB acquired 100 percent of the British development studio Coatsink Software Ltd for an upfront consideration of GBP 23 million plus an earn-out component potentially resulting in a maximal total consideration of GBP 65.5 million. Following the transaction co-founders and several key employees of Coatsink will become shareholders in Thunderful.
The acquisition is in line with Thunderful’s strategy to expand its Games segment by adding attractive platform partnerships and publishing deals. The acquisition will allow both companies to accelerate and strengthen ongoing and future development projects.
Coatsink, headquartered in Sunderland, UK, was formed in December 2009 by Tom Beardsmore and Paul Crabb. Today it is a diverse and versatile development studio and publisher, which has built a strong industry reputation.
Thunderful Group is a primarily Nordic group of companies active within development and publishing of games as well as distribution of, among other things, Nintendo products, games, game accessories and toys. Thunderful Group was founded in 2019 after a restructuring of the company groups Bergsala and Thunderful. With its head office based in Gothenburg, Sweden, Thunderful Group has a presence throughout the industry value-chain through its two operating segments, Games and Distribution.
Setterwalls team included Anders Holmgren (Picture), William Sanderson, Robin Sundin, Hanna Rhodin.
Muckle team included Adam Rayner, Stuart Grieve and Stephanie Brown.
Involved fees earner: Stephanie Brown – Muckle LLP; Stuart Grieve – Muckle LLP; Adam Rayner – Muckle LLP; Anders Holmgren – Setterwalls; Hanna Rhodin – Setterwalls; William Sanderson – Setterwalls; Robin Sundin – Setterwalls;
Clients: Thunderful Group AB;