Sperry Mitchell Advises Glass Egg Digital Media on its sale to Virtuos

New York, NY (May 18, 2022) Glass Egg Digital Media Ltd. (“Glass Egg”) of Ho Chi Minh City, Vietnam, has been acquired by Virtuos Holdings Pte. Ltd. (“Virtuos”) of Singapore. Sperry, Mitchell & Company served as exclusive financial advisor to Glass Egg. Morgan Lewis served as legal representative to Glass Egg. 

Glass Egg (www.glassegg.com)is a leading art outsourcing studio serving the video game development market. Founded in 1999, Glass Egg’s extensive art production offerings include concept design and 2D & 3D art services. Glass Egg employs 400 staff, and has established a reputation for excellence in the vehicle art development segment. The studio has contributed to numerous notable AAA games, including Call of Duty: Modern Warfare, Spider-Man, Forza: Horizon 4, Demon Souls, and Need for Speed Heat. Following the acquisition, Glass Egg will rebrand itself as “Glass Egg – a Virtuos Studio”, but will continue to operate independently, with CEO Phil Tran and CFO Steve Reid remaining in their respective roles. 

Virtuos (www.virtuosgames.com) is a leading global video game development company backed by Baring Private Equity Asia (“BPEA”). Founded in 2004, Virtuos has an established track record of specializing in game development services and 3D art production for AAA consoles, PC, and mobile titles, enabling its partners to generate additional revenues and achieve greater operational efficiency. Virtuos is headquartered in Singapore, with an employee base of over 2,500 full-time professionals in studios across Asia, Europe, and North America. Virtuos has successfully delivered high-quality content for more than 2,000 projects and its clients include 18 of the top 20 digital entertainment companies worldwide.

Gilles Langourieux, CEO at Virtuos, commented, “We’re excited to bring the Glass Egg team on board the Virtuos family. With its strong brand equity, coupled with its sizeable and long-term local operations, Glass Egg demonstrates excellent synergies with Virtuos, and we look forward to harnessing our combined expertise to strengthen our commitment to excellence.”

Phil Tran, Glass Egg’s CEO, stated, “We are honored to be a part of an industry stalwart, Virtuos. This deal means our staff will have the ability to expand skills and take on a wider array of projects, which will benefit our clients as well. With the support and resources of Virtuos, we are energized to meaningfully contribute to the industry in its next phase of growth.”

Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger & acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $20 to $500 million.

 

View articles about this transaction: (click below)

Macau Business

GamesIndustry.biz

DealStreetAsia

Sperry Mitchell Advises Chainlogix on its sale to Nelson-Miller

New York, NY (March 8, 2022) Chainlogix of Troy, VA has been acquired by Nelson-Miller, Inc. (“Nelson-Miller”) of Los Angeles, CA, a portfolio company of New Water Capital (“New Water”), headquartered in Boca Raton, FL. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to Chainlogix.

Chainlogix (www.chainlogix.com) is a leading provider of engineered components, assemblies and supply chain management solutions to customers across the industrial, lighting and electronics landscape.“We are excited to build upon our first platform in Fund II through the Chainlogix acquisition,” said Matt Carlos, principal at New Water Capital. “Through the combination of Nelson Miller and Chainlogix, the growing enterprise will have access to expanded engineering and supply chain management resources, while leveraging captive electromechanical assembly and functional printing capabilities.” 

“We feel as though we found the perfect partners in New Water and Nelson Miller to help accelerate our growth trajectory,” said Chainlogix founder-owner Rick Perrault. “New Water’s success in building technology-driven solutions providers and the out-of-the-box synergies with Nelson Miller make for a perfect fit for our team’s aspirations and goals.”

Nelson-Miller (www.nelson-miller.com) was formed in April 2011 through a merger of two Los Angeles metal manufacturing companies, Miller Dial, founded in 1937, and Nelson Nameplate, founded in 1946. Today Nelson Miller is a leading global supplier of membrane switches, silicone rubber keypads, graphic overlays, metal nameplates, light guides, modules, assemblies and custom applications.

New Water Capital (www.newwatercap.com) is a Boca Raton, Florida-based private equity firm focused on lower-middle market companies in the consumer products and industrial manufacturing and services sectors with revenues of $30 million to $300 million. 

Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger & acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $20 to $500 million.

 

View articles about this transaction: (click below)

Cision PR Newswire

Beatrice Mitchell Has Been Recognized as One of the Most Influential Women in Mid-Market M&A

For the SIXTH year, Mergers & Acquisitions has recognized Beatrice Mitchell as one of the Most influential Women in Mid-Market M&A.

Click here to view the article.

Sperry, Mitchell & Company: 2021 in Review

We congratulate all of our clients who successfully sold their companies in 2021 for a cumulative $765 million in transaction value.

Our 2021 transactions include the following:

Article by Beatrice Mitchell Published in PEHub Magazine: “This is a seller’s market”

We are pleased to announce that Beatrice Mitchell was recently highlighted in PE Hub’s Outlook 2022 Series, in which she discusses the current state of the M&A market and what to expect in 2022.  For the full article, please click HERE. 

Topics include:

  • Dealmaking momentum in 2022

“Business owners understand that this is a seller’s market. In addition, many owners of private companies have found the past year to be very stressful, and are simply ready to sell and move on.  Every indication is that the party will continue into 2022.”

  • Challenges for deal makers in 2022

“Historically, the two main threats to robust M&A markets are economic recessions and sharp increases in the cost of money.  For 2022, I see a greater threat from rising interest rates than a dramatic downturn in the economy.”