Sale: BtoBet Ltd
Crowe UK and Partis Capital have combined to advise the shareholders of BtoBet Ltd, a leading B2B sportsbook and technology provider in the iGaming sector, on the sale of the business to Aspire Global.
The acquisition constitutes a key part of Aspire Global’s growth strategy as it is a significant step towards creating an offering that covers the main elements of the B2B iGaming value chain. The strategic importance of this acquisition ensures Aspire Global is now positioned among the world’s leading iGaming suppliers.
The deal will see the shareholders of BtoBet secure a minimum value of €20 million for the business with a significant upside expected to be delivered through an earnout in two years.
This deal is the latest completion to emerge from the collaboration of Crowe and Partis. The M&A expertise and unrivalled market access that the combination of Crowe and Partis brings offers enterprises in the Gaming sector a fully supported end to end M&A advisory service from pre-sale preparation through to deal execution and earnout delivery support.
Crowe and Partis advised the shareholders of BtoBet on the sale of 100% of its shares.
Crowe's team and role
The Crowe team was headed by Corporate Finance Partner Matteo Timpani. The Partis team was headed up by Managing Partner, Rob Dowling.
Client quote
“The team from Crowe and Partis supported us incredibly throughout this deal process, from the early stages when we were considering a deal, through to the very final moments of signing the agreements, they guided us expertly every step of the way. The team went above and beyond in so many respects for us, making sure the deal was kept on track, even in the midst of a global pandemic. Crowe and Partis have delivered a deal which places BtoBet in a market leading iGaming provider and delivers a great deal for the shareholders. We are excited to continue our journey with Aspire Global. I would not hesitate to recommend Crowe and Partis to anyone looking for advice and support in selling their business.”
Alessandro Fried, Principal shareholder and CEO of BtoBet
"The iGaming sector is one which continues to show remarkable growth and resilience in an unprecedented market for M&A, and a sector where we are seeing increasing levels of activity. It has been an absolute pleasure to work alongside the Partis team over the last 12 months to steer the BtoBet team through the ups and downs of a global pandemic, and deliver a deal which sees the business come under the ownership of Aspire Global in a significant strategic acquisition. We look forward to working with the BtoBet team going forward to help them secure more value through their earnout. A huge thanks to the team at Crowe, James Smith and Hazel Lucian in particular, who worked incredibly hard to get this deal away."
Matteo Timpani, Corporate Finance Partner, Crowe UK
