Almor Limited (Sunmaker)
Date: June 2015
Deal Size: Sale of a 71% stake at a €6.5m valuation
About the client: Almor is a niche online casino operator whose principal brands sunmaker, sunnyplayer and kingplayer have established a strong position in their core German-speaking markets since the business launched in 2011, offering a large range of online casino games as well as a sportsbook. The business generated earnings of €1.2 million from net gaming revenue of €11.1 million in 2014 and recorded over 55,000 active customers in the first 5 months of 2015.
About the transaction: Akur advised Almor in the sale of 71% of the business to Cherry AB (a Swedish listed provider of gaming activities with a 50 year operating history). Akur had a central role in the origination, negotiation and final execution of the deal.

Fredrik Burvall, President and CEO of Cherry, commented:
“The deal gives Cherry a larger and more significant presence in continental Europe, contributing positively to both our margins and our growth prospects.”

Alexander Knopf, director of Almor, added:
“We are delighted to be joining Cherry, whom we believe to be the ideal partner for Almor to continue its remarkable growth. We are grateful to the Akur team for their vital role in bringing this transaction together. From the early stages of identifying and introducing potential partners through to structuring and finalising the deal with Cherry, we have been impressed by Akur’s sector expertise and professionalism throughout the process.”

Lead: David Shapton


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Chris Young…

Chris is focused on listed closed-ended funds, specialising in both equity and debt capital fundraising. He has over 16 years’ experience in both sales and research. With relationships across many of the large institutional investors in the sector, he has worked across IPOs, secondary fundraisings, placings and sales. He began his career in the City as an investment funds analyst at Credit Lyonnais in 1999, and has subsequently held positions at Lazard Panmure Gordon, Arbuthnot Securities, and most recently as a specialist salesman within the investment funds team at Westhouse Securities. He is focused on private and public real estate and REITs, infrastructure and utilities, emerging markets, private equity and alternatives. Tel: +44 (0) 20 3780 8746 Mob: +44 (0) 7471 141 303 Email: