Everplay Group makes strategic investment in gaming

16 Dec 2025Announcements

Mishcon de Reya advises Everplay Group plc on its strategic minority investment and partnership with Bulkhead Games

Mishcon de Reya LLP has successfully advised Everplay Group plc, a prominent UK-listed video games group, in a significant strategic move through its minority investment in Super Media Group Ltd (SMG) and a commercial partnership with the independent first-person shooter (FPS) studio Bulkhead. Established in 2014, Bulkhead is renowned for its FPS title Battalion 1944 and has developed extensive technical expertise within the genre after previously being under Tencent's ownership.

In 2025, Bulkhead transitioned to a management-led acquisition from Tencent, which enabled the establishment of SMG as its holding company. The strategic alignment sees Everplay acquiring a 20% stake in SMG, reinforcing its connection with Bulkhead and enhancing its position in the broader FPS market. As part of the investment, Everplay has committed to collaborating with Bulkhead in publishing the upcoming FPS title Wardogs, along with exploring co-development ventures within Team17’s successful Hell Let Loose franchise.

Mishcon de Reya's advisory role leveraged their extensive experience across both the Interactive Entertainment and Corporate sectors, with a dedicated team led by Stuart McMaster and Nick Allan, supported by Christia Malaktou, Arthur Horsfall, Stephen Elhabbal, and Lorenzo Coppola. Andrew Macdonald, Group General Counsel of Everplay Group plc, expressed gratitude for Mishcon's involvement, stating "We are grateful to the Mishcon team for helping to deliver this deal, led by Stuart McMaster and Nick Allan. They were responsive, commercial and great to work with throughout."

In a reflection on the collaboration, Nick Allan, Partner and Head of Video Games at Mishcon de Reya, stated "We are delighted to have represented Everplay and Team17 on this deal, who are one of the most significant and forward-thinking independent video games businesses in the UK. The deal was a wonderful opportunity to showcase our Interactive Entertainment offering, combining corporate transactional capability with market-leading expertise on video game publishing and more. The leadership team at Everplay are also a fantastic group of people and it was a real privilege to work with them."

Mishcon de Reya takes pride in supporting Everplay's expansion within one of the largest and most dynamic segments of the global gaming industry

Legal News desk contact: editorial@solicitorsjournal.com

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