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Business For Sale - Details


Designer and Manufacturer of Consumer Entertainment Robotics

Project Karel

 

KRE Corporate Recovery LLP has been engaged by a company which designs and manufactures consumer entertainment robotics with connected entertainment platforms to seek a buyer for the shares of the company. In the absence of a share sale, a buyer for the business and assets through an Administration process is being sought.

 

BACKGROUND

An opportunity exists to acquire the shares or alternatively the business and assets of this UK based, innovative company creating robotics with a focus on entertaining, inspiring and educating.  The robots they create can be operated through mobile apps with augmented reality gaming.

 

OVERVIEW

  • Business commenced trading in 2013
  • First funding round concluded in 2016 raising £1.5m and the second in 2017 raising £6.5m, with the flagship product released to the market through Apple stores in the UK and US in November 2017
  • Recently reduced workforce of 17 people based in leasehold premises in the Bristol area
  • Sales in FY19 split in US, UK, Rest of World as 60%, 20% and 20% respectively
  • Net Revenue in FY18 of £1,109m converted to GBP at the 31st May 2018 spot rate
  • Distribution rights in Europe, UK, Canada and the US through an intermediary to Apple with direct sales in Europe, the UK and US through Amazon and direct to market sales through own website
  • Significant opportunity for licensing technology to toy/entertainment companies and arcades to enter e-sports
  • Prior to cashflow pressures the Company was forecasting Net Revenue of c.£14m (converted at $1.4 to the £) in FY20 with converted EBITDA of £4.3m

 

TIMEFRAME

Interested parties should immediately sign the NDA in the link below to receive further information.  Expressions of interest for the business and assets are required by 5pm on 24th July 2019 with bids anticipated shortly thereafter.

 

NON-DISCLOSURE AGREEMENT

If you would like more information about this company and to register your interest please complete and sign the attached Non-Disclosure Agreement and return it to jhills@lsh.co.uk.

 

IMPORTANT

This briefing sheet contains information supplied by company personnel. LSH provides no warranties or indemnities in respect of such information. All interested parties must rely on their own investigations when reviewing this opportunity.

 

CONTACT

David Taylor - david.taylor@krecr.co.uk
Chris Errington - chris.errington@krecr.co.uk

 

601 (19.07.2019)

CONTACT