L Catterton sells SteelSeries to Axcel
L Catterton, the largest and most global consumer-focused private equity firm, has entered into a definitive agreement to sell SteelSeries, the leading global gaming platform, to the Nordic private equity firm Axcel. The founder, Jacob Wolff-Petersen, and management will re-invest alongside Axcel. Plesner has acted as lead legal counsel to the sellers and has assisted L Catterton and management with all legal aspects of the transaction.
L Catterton partnered with the founder, Jacob Wolff-Petersen, at a time when video gaming was not yet mainstream. Their partnership enabled SteelSeries to focus on innovation and expansion of the product portfolio as well as development of the SteelSeries Engine software platform. L Catterton sells their entire shareholding in SteelSeries, while the founder, Jacob Wolff-Petersen, and management will re-invest alongside Axcel. Plesner has acted as lead legal counsel to the sellers and has assisted L Catterton and management with all legal aspects of the transaction.
About L CattertonL Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault, and today, L Catterton is the largest consumer-focused private equity firm in the world with more than USD 15 billion of equity capital across six fund strategies and more than 250 investments completed in leading consumer brands since 1989. It operates from 17 offices globally, and the team consists of more than 180 investment and operating professionals partners with management teams around the world.
SteelSeries was founded in 2001 in Copenhagen, and has grown to be the global leading premium brand within the gaming industry, today with subsidiaries in the US and Asia. The company's aim is to improve performance through first-to-market innovations and technologies that enables gamers to play harder, train longer, and rise to the challenge. SteelSeries supports competitive gaming tournaments and eSport teams and endeavors to connect gamers to each other to create a community.
See LCatterton's press release on the following link: