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Talarius Acquisition Trail Continues with £19m Purchase of Blackheath Leisure
"A very satisfying outcome to one of the longest commercial courtships in the industry" is how Nick Harding, CEO of Talarius plc described the company's acquisition of Blackheath Leisure (Carousel) Limited. The deal, for a total consideration of £19m, was announced to the London Stock Exchange on Tuesday 8 November and takes Talarius' aggregate spend on acquisitions over the last four months to £30m. "I have been chasing this business personally for over 15 years and have lost count of the number of lunches it's taken to convince principal Alan Hunt to realise the value of his estate," said Nick Harding (pictured.) "We are delighted to have completed this strategically important acquisition. This is a business with which we are very familiar. We know the management team well and are confident that the business will be integrated seamlessly."
One of the largest operators of Adult Gaming Centres (AGCs) in London, Blackheath Leisure comprised 24 sites with around 1,000 machines, having been in existence since 1969 trading as 'Cash City.' Strategically, this portfolio of AGCs complements the existing business and makes the enlarged Talarius group the clear market leader in London. In addition, the acquisition takes the Quicksilver gaming machine estate to circa 8,000 machines, spread over 167 sites and staffing levels close to 1,000, confirming its position as one of the largest gaming machine estates in the UK. The combined operations now give Quicksilver a 17 per cent share of the British AGC sector, making it the clear market leader in high street gaming.
Nick Harding said, "Having strengthened our position in Scotland and the North of England four months ago through the acquisition of 'Royals', this latest coup gives a real boost to Quicksilver's high street presence in the Capital. We remain determined to fulfil our ambitions of occupying prime locations throughout the country via a continued programme of acquisition."
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