Catalis is a tester of video games: it also had a small ‘work for hire’ business.
Nick Winks joined as CRO in October 2011 following a request from KBC Bank who had been asked by the company for a €4m emergency cash injection to avoid insolvency. Nick became Non-Exec director in 2015 by which time the business was consistently profitable. In 2016 Catalis acquired a games publishing business (Curve). In 2019 Catalis Plc was sold to NorthEdge Capital for €100 million equity value, at which point Nick exited the business.
The next two years involved tight cash control and a weekly renewal of the KBC facility. WayPoint brought in a specialist cash manager to help Nick and the business get through this period.
The CEO was replaced by an internal candidate and one leg of the business, work for hire, was exited. A low-cost game testing facility was established in Poland. Early in 2016 Catalis bought a small games publisher which has since grown significantly.
In 2018 Catalis re-registered as a Plc with a view to an IPO in London. An attractive private equity valuation from North Edge enabled the IPO to be dropped in favour of their €100m enterprise valuation offer which completed in October 2019 when Nick Winks left the business.