2 hours ago, Daeglan said:Seems more like he is retiring. That is not a bad sign. Especially if that other firm is buying Asmodee. It would mean he is basically cashing out.
What matters is who is taking over and are they any good?
To be clear, Asmodee own FFG, and Asmodee are owned by Eurazeo. Eurazeo are selling Asmodee for x reasons, most likely increased liquidity for future investments, and Asmodee's in a particularly good position for sale given its performance and expansion over the past 4 years. Eurazeo are a roughly $7 billion private equity firm. Eurazeo own just under 60% of Asmodee, and the company is valued at around $1.4 billion for the sale to PAI, who are valued at about $16 billion. Eurazeo will make about a billion in profit over their ownership of Asmodee, so they're definitely happy, and PAI will be expecting to similarly make a return on their investment.
In essence, unless there's something seriously wrong inside Asmodee that hasn't come to light, or PAI decide on some Hasbroesque cutbacks (which they don't have an extensive history of doing), there shouldn't be any significant change for Asmodee. PAI's stated intention is:
PAI intends to support the current management team in its plans to grow the business further through international expansion both organically and by acquisition.
Also:
Gaëlle d'Engremont, Partner at PAI Partners, commented: “Asmodee represents a unique opportunity to invest in a fast-growing platform within the gaming industry, as part of PAI’s strategy to invest in attractive consumer goods industries. Stéphane and his team have an unparalleled track record in driving profitable growth both organically and through acquisitions, and we are delighted that they have chosen to partner with us. We are excited by the company’s growth prospects, which include further developing Asmodee’s position in the core hobby gaming market and successfully diversifying the group’s main brands onto other platforms. We look forward to working together to deliver on our ambitious objectives.”
PAI Europe VII is a fund intended to purchase shares or outright ownership in companies, to then realise a return for the investors within, typically 2-7 years, so they're expecting Asmodee to expand and increase revenue in that time. The last thing they'd want would be to lose the Star Wars license, albeit if RPGs aren't making enough of a profit they could be dropped, though it's such a tiny part of the overall size of FFG, which itself a signficant but still minority part of Asmodee that it's unlikely to be a priority or cost-saving focus in the short term.
Obviously the total lack of communication from FFG on upcoming products is less than encouraging, but it's also entirely typical given their total lack of communication on the assorted delays and issues with the lines over the past couple of years.
. I am sorry, my friends...
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