Playnation, the supplier of amusement and leisure machines backed by Palatine Private Equity, has appointed Pets at Home founder Anthony Preston as non-executive chairman.
The appointment comes after the Manchester-based private equity firm backed the management buyout of Playnation, formerly the amusement and leisure division of London-based Inspired Gaming, earlier this year.
Preston (pictured), who is part of Palatine’s executive advisory board, will work alongside Playnation’s chief executive Adam Hodges and the investment team at Palatine to help strengthen the company’s position in the amusement and leisure sector.
Playnation supplies amusement and leisure machinery to holiday parks, motorway services, bowling centres and airports, including Butlins, Haven, Park Resorts, Parkdean, Welcome Break, Moto, Roadchef and Tenpin.
Preston says: “This is great time to be joining Playnation following the MBO led by Adam and his team. The company operates in a niche market and is a leader in the leisure sector, creating memorable experiences for families across the UK.
“Having worked with Palatine for a number of years, it is fantastic to be asked to join the board at Playnation as it enters an exciting period of growth.”
Preston founded Pets at Home in 1991 and expanded the business before it was acquired by private equity house Bridgepoint for GBP230m in 2004. He remained on the board of the company as a non-executive director. In 2010 global investment firm KKR acquired Pets at Home for GBP955m.
Hodges says: “Anthony’s background is impressive, having transformed Pets at Home into the UK’s leading pet shop. He is one of the country’s most respected entrepreneurs and has a solid experience working with consumer facing businesses and private equity firms alike. We are really lucky to have him on board at Playnation.”
Playnation is the latest addition to Palatine’s second fund.
