Leeds-headquartered Dransfield Novelty Company Limited have acquired the entire issued share capital of Gameco Holdings Limited, owners of Reflex Gaming, for an undisclosed sum.
The Reflex senior management team led by Quentin Stott will remain in place.
Newark based Reflex was established in 2004 by Quentin Scott and Simon Dewson. Reflex is an independent manufacturer and developer of leading edge reel and video based gaming machines for the pub retail, arcade, bingo and private members club sector. In recent years the company has broadened its product portfolio for online and mobile device access.
Dransfield Novelty Company was established in 1946 by Harry Dransfield. The family run business is the UK’s largest independent supplier of gaming and amusement machines, serving over 5000 private members clubs, pubs and the licensed trade premises.
Quentin Stott, Managing Director of Reflex said: “We have always been fiercely independent and proud to be British owned. Our new ownership under Dransfields keeps both of these values in place and provides us with the investment and opportunity needed to further develop the company. The newly combined businesses of Dransfields and Reflex create a new and credible alternative for retailers.”
Browne Jacobson advised on the deal. The team advising Reflex was led by corporate finance partner Paul McCannah, supported by corporate finance associate Victoria Hustler and Rebecca Hawkins (tax).
Paul McCannah, corporate finance partner at Browne Jacobson, said: “Both enterprises share a really strong synergy and this deal will allow our client to maintain its preeminent foothold in the UK whilst benefitting from the expertise and investment that comes from joining forces with another sector heavyweight.”
Nick Burgess, Group Finance Director at Reflex, added: “The advice from Paul and his team at Browne Jacobson was first rate and ensured the legal process ran as smoothly as possible.”