Founded in 1991 and headquartered in Wakefield and Nottingham, Team17 is a leading video games label and creative partner for indie developers. The business creates and sells a range of successful titles worldwide through major digital distributors such as Sony, Microsoft, Steam, Apple and Google, and works closely with third party developers to help bring their products to market.
Its current portfolio includes more than 90 games, including the iconic and well-established Worms franchise, as well as Overcooked and The Escapists.
In September 2016 Team17 secured a £16.5million investment from LDC to fuel its expansion. As part of the transaction, Team17 acquired Mouldy Toof Studios, the developer behind the popular prison break game, The Escapists. The acquisition marked the continued diversification of company’s games portfolio and demonstrates its commitment to drive further growth through product partnerships and strategic acquisitions.
In 2017 Team17 was revealed as one of Yorkshire's fastest growing businesses, was recognised for exceptional profit growth in The Sunday Times Profit Track 100 being listed as 'one to recognise‘, was awarded Growth Management Team of the Year at the BVCA Management Team Awards in Yorkshire and the North East and Team17 CEO Debbie Bestwick MBE was awarded EY Entrepreneur of the Year (National - Disruptor category).
In 2018 Team17 was listed in the 2018 Sunday Times SME Export Track 100 for the first time, after delivering exceptional international growth. The firm is placed 84th in the league table, which ranks Britain’s small and medium-sized businesses with the fastest-growing international sales. Over the past two years the business has increased international sales by more than 40 per cent.
On 23rd May 2018 LDC partially exited its investment in Team17 following its successful IPO. The £217m listing on London’s AIM market raised proceeds of approximately £107.5 million, before expenses. Recognising the continued growth potential of the business, LDC is rolling a proportion of its proceeds for a 16.6 per cent shareholding in the listed company.
Team17 has grown significantly in recent years with revenues rising by 119 per cent to £29.6m in 2017 (2016: £13.5m), and EBITDA increasing by 111 per cent to £12.9m (2016: £6.1m). Growth has been underpinned by further investment in product development and new launches, continued overseas expansion and a commitment to delivering a bespoke service to each of its partners.
Following the IPO, the business plans to further accelerate its growth strategy, raising its profile on a global scale and developing its own IP, ensuring it can capitalise on its position as a leading independent video games label for indie developers.