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NorthEdge backs Management Buyout at Sumo Digital

Sumo Digital is delighted to announce that it is has once again become a fully independent video game development company!

With the help of our new partners at  NorthEdge Capital, the private equity firm recently backed the existing management team, comprising Carl Cavers (CEO), Paul Porter (COO), Chris Stockwell (CFO) and Darren Mills (Executive Art Director) to complete an MBO from Foundation 9 Entertainment, the US entertainment media company which acquired Sumo in 2007.

The Yorkshire gaming industry is worth tens of millions of pounds to the regional economy, and continues to go from strength to strength. The sector is supported by several Universities in the region, which are proactive in providing courses and appropriate guidance to students looking to pursue a career in the industry.

Director James Hall and Investment Manager Phil Frame led the deal for NorthEdge. Hall and Frame will join the Board as Non-Executive Directors.

Carl Cavers, Sumo CEO, added: “With the imminent release of Little Big Planet 3 and a number of exciting projects under development, the business is in an extremely strong position. We are delighted to have completed the MBO and to be partnering with NorthEdge as we accelerate our growth strategy and cement our position as one of Europe’s leading game developers.”

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James Hall, Director of NorthEdge, commented: “Sumo Digital is a fantastic business, with an incredible reputation and a track record of delivering top titles. The business is working on a number of exciting projects and we look forward to partnering with Carl and the team as they further grow the business, capitalising on opportunities within the marketplace. Sumo has an exciting time ahead and we’re extremely pleased to be on board.”

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