Controversial OpCapita boss Henry Jackson, is stepping down from Capitex Holdings, the firm that controls Game, ahead of its potential IPO.
Jackson is understood to be stepping down because the consultancy undertaken by OpCapita in the early stages of its Game acquisition are now being carried out by the video games retailers’ management team, according to the FT.
Jackson, who made millions from the collapse of electricals firm Comet, led OpCapita’s acquisition of Game out of administration in April 2012, backed by US hedge fund Elliott Advisors.
Game is among the throng of retailers mulling an IPO. Sales rose 83% in the six weeks to January 4, compared with market growth of 53%.
OpCapita is also raising hundreds of millions for a new investment fund. It has already started making new acquisitions, including NKD, a German discount clothing retailer, which it bought in November last year for €20m (£16.4m).