A BUSINESS which supplies pub quizzes to the licensed trade has been the subject of a management buyout (MBO), it was revealed yesterday.
Redtooth, which is based in Barlborough, Derbyshire, also operates one of the largest live poker leagues in the world.
The buyout of retiring shareholder Steve Saul by directors Martin Green and Tim Smithies substantially increases their individual equity stakes in the company. Mr Green has become the majority shareholder following the completion of the MBO.
Sheffield-based dealmakers Strategic Corporate Finance, led by its 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. Mr 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."