Redtooth Directors Up Their Stakes
A management buy-out has taken place at Barlborough based niche entertainment business Redtooth Limited.
Redtooth is the largest supplier of pub quizzes to the licensed trade and operates the largest live poker league in the world. Redtooth also runs six aside football leagues and provides football forums, fantasy football, sports promotions and sporting memorabilia.
The buy-out of retiring shareholder Steve Saul by directors Martin Green and Tim Smithies substantially increases their individual equity stakes in the company and has resulted in Martin becoming the majority shareholder.
Award winning dealmakers Strategic Corporate Finance led by their Managing Director Andrew Coates acted as lead deal advisers to the management team. Chris Wilson at Sheffield based hlw Commercial Lawyers and his team advised on all legal aspects of the transaction. Funding was provided by RBS who were advised on legal matters by Duncan James of Berryman Solicitors, Nottingham.
Andrew Coates commented “Redtooth is the leading company in both pub quizzes and live poker leagues and has grown considerably over recent years. I am confident that Martin and Tim will continue to identify and develop new business opportunities.”
Chris Wilson said “Redtooth is leading the way in a very exciting sector and no doubt will continue to go from strength to strength under the continued management of Martin and Tim. We were delighted to work with Strategic Corporate Finance and RBS to help ensure the ongoing success of this vibrant North Derbyshire based business.”
Guy Middleton and Ian Macnamee from RBS supported the buy-out. Guy Middleton said “Martin and Tim are already an integral part of the management team that has successfully established Redtooth to its current market leading position. They have a clear vision with where they want to take the company and we recognise that potential.”
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