Bell Fruit and Mazooma are "not for sale," was the message which came across clearly from the managing director of the machine makers' parent company, Danoptra, speaking with InterGame during the London ATEI.
Derek Lloyd, recently installed by the company’s venture capital owners, was able to release figures for the group’s performance during the 2005 financial year and talk a little about his immediate objectives.
There had been some speculation in the UK financial press about the plans to sell off one of the divisions of Danoptra, Leisure Connection, which specialises in health clubs.
Coupled with the opening of negotiations on the further financing of the group with the banks, it led to talk of problems and sell-offs.
Lloyd, however, quickly quashed these rumours, pointing out that it was normal practice for venture capital companies to both renegotiate their financing and also to sell off parts of the business after a three-to-five-year span.
“We have no intention of selling Bell Fruit and the other machine-making businesses for the moment,” he said. “Obviously anything is for sale if the price is right, but we are not actively seeking a buyer.”
Lloyd said that also applied to the operating division, where Gamestec is currently the second largest machine company in the country.
