Afinum clocks out of Caseking

Equistone has taken a majority stake in Caseking, which acquired Overclockers in February 2012, according to unquote" data.

The investment will support Caseking's expansion into new European markets and the further development of the company's product portfolio.

Equistone typically invests between €25-125m in companies worth between €50-300m. This deal marks Equistone's second transaction of 2014, following the sale of Apem to ICG in February.

Previous funding
Afinum originally invested in Caseking in October 2010 from its fifth fund, taking a majority stake and leaving the founders with the balance.

Company
Headquartered in Berlin, Caseking employs 90 staff members in Germany and 60 employees in the UK. Since the company was founded in 2003 by CEO Toni Sonn and CFO Kay Kostadinov, it has supplied gaming and PC components in Europe. The turnover for the current financial year, ending on 30 April 2014, is projected to be approximately €100m.

Caseking primarily sells its products online, targeting consumers from the gaming community and PC experts, as well as resellers and system integrators. The company offers products and advisory services in PC performance, design and noise reduction. Overclockers offers similar UK services to its German counterpart, including a wide range of performance hardware and engagement services for its customers.

People
Toni Sonn and Kay Kostadinov are co-founders of Caseking. Equistone senior partner Peter Hammermann was joined in the acquisition by Alexis Milkovic and Leander Heyken.

Advisers
Equity – Skadden (Legal, M&A); KPMG (Financial due diligence, tax, corporate finance); N+1 (Debt); Ashurst (Legal); PwC (Commercial due diligence).
Vendor – Altium (M&A), P+P Pöllath + Partners (Legal); PwC (Corporate finance).

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• Topics
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