GLI May Soon Be Under CVC Capital’s Control

CVC Capital Partners is aiming to take control of Gaming Laboratories International (GLI), a major player in the gaming industry’s testing and compliance sector. Through its investment vehicle Avalon Buyer Ltd, the firm has filed intent notices with competition regulators in Malta and Austria, setting the stage for a possible acquisition.

Good to know

• Avalon Buyer Ltd is a newly formed entity backed by CVC Funds.
• The deal targets GLI and its affiliates: Worldwide Laboratories and Kobetron.
• No public value has been placed on the acquisition so far.

The notices submitted to both Malta’s Competition and Consumer Affairs Authority and Austria’s Federal Competition Authority show Avalon’s plan to acquire more than 50% of GLI’s ownership. That would give CVC Capital control over GLI and its related entities.

According to the Malta filing, the acquisition involves “sole control” over GLI, Worldwide Laboratories, and Kobetron. The statement notes that any formal objections to the move needed to be submitted within seven days of the updated July 11 filing.

In Austria, the notice confirms Avalon Buyer Ltd is based in the United Kingdom and is indirectly managed by affiliates of CVC Capital Partners Plc, which is based in Jersey. The filing also clarifies that the acquisition relates to companies providing testing, inspection, and certification services to the global gaming industry.

GLI plays a major role in the industry by helping regulators and operators ensure games meet technical standards and compliance requirements. It remains a privately-held company, and as of now, neither GLI nor Avalon Buyer Ltd has publicly commented on the acquisition plan.