• Transactions
  • M&A / Private Equity
  • The 5 February 2021

MBA advises the founders and the management team of Asobo Studio in the context of an LBO transaction.


MBA law firm (Moisand Boutin & Associés) advised the founders and the management team of the Bordeaux video game studio Asobo Studio in an LBO transaction with the investment fund Sagard NewGen.

This transaction, partially financed by a senior debt, allows Asobo Studio, where the founders remain in majority, to contribute to the financing of the acceleration of its organic growth both in France and internationally, and to a significant number of managers to invest in the group.

Founded in 2002 and employing more than 200 people, Asobo Studio develops video games for console and PC (24 titles co-developed since its creation) for major publishers such as Microsoft, Disney/Pixar and Ubisoft. Among the games developed are the new version of Flight Simulator (2020) and an original independent creation called “A Plague Tale: Innocence”. Asobo Studio generated sales of €18.5 million last year, with an estimated EBITDA margin of 20%.

The MBA team was composed of Igor Doumenc, partner, as well as Julien Brouwer, Eric du Peloux and Julia Faure, for corporate and contractual aspects, and Dorothée Traverse, partner, and Marion Hubier, for tax aspects.

Sagard NewGen was advised by Paul Hastings (Olivier Deren and Allard de Waal, partners, and Charlotte Dupont, Thomas Pulcini, Vincent Nacinovic and Claire Jondot).