APX Group Acquires 50 Percent Stake In UK’s Twickenham Film Studios
American-European Media Fund APX Group has completed the acquisition of a 50% stake in the UK’s Twickenham Film Studios.
The South West London 120-year old facility has hosted a host of classic titles over its history including The Italian Job And A Hard Day’s NightAlong with big-budget productions like Bohemian Rhapsody And Maverick is the Top Gun More recent.
Deadline: More
The acquisition is the latest major addition to APX Group’s global network of studios ahead of its planned public listing on the New York Stock Exchange later this year.
APX Group, a global network consisting of over 100 studios worldwide, will rebrand the company with the Twickenham Studios brand.
Parties also reached an agreement on an accelerated expansion program to acquire additional studios, land and suitable for studio construction in Europe or the US. This will all be done under Twickenham Studios.
The equity structure of this transaction was made together with APX Group’s production arm Herd International and the partners Shelley Hammond (also Global CEO of APX Group), Hollie Richmond, Ben Dillon, and Iggy Ellis.
Two weeks later, the acquisition is complete. Twickenham Studios chair Sunny Vohra acquired 6.95% of APX Corporation Inc. The parent company of the American European media fund. APX Group.
Other recent APX Group transactions include the acquisition of a significant stake in Next Wave Studios, the joint venture between Leo Matchett and Roman Coppola’s Decentralized Pictures and Stephen Murray’s Bingeable, and as well as the development slate of UK production banner Burning Wheel.
“As CEO I’ve made it the goal of our group to expand our production network into fresh territories and to complete a successful public merger,” said Hammond.
“Twickenham Film Studios is a cultural institution of film production and as such will be a jewel within our production portfolio. APX Group is a partner and plans to secure the next hundred year of production as well as actively expanding the brand to provide award-winning services to the creative sector. In short – the Twickenham brand is historic, its reputation iconic, and our vision is global.”
APX Group Board Chairman Adi Cohen said it was an honor to have “the home of British celluloid history” become part of the group.
Vohra is a London-based businessman who was involved in various property and commercial ventures. In 2012, Twickenham Film Studios was in danger of financial collapse. Vohra purchased Twickenham Film Studios.
He claimed that the deal was the beginning of a new era at the studio.
“Twickenham Studios was saved from liquidators and demolition by myself and a group of like-minded film-buffs approximately 10 years ago. We all look forward to worldwide expansion and growth under the APX Group management. The Twickenham brand lasted gloriously for the past 100 years, and we are committed to the next 100 years.”
Herd International, APX Group and Herd International both have their head offices moved to Twickenham Movie Studios. Twickenham Films Studios’ board will include two members nominated by APX Group. The acquisition will not impact the existing management or staff structure.
New York’s Loeb & Loeb LLP, headed by Vice Chair Mitchell S. Nussbaum (and Co-Chair of Capital Markets and Corporate) has advised APX Group on this deal and others, leading up to its expected public merger on NYSE later this year.
Best of Deadline
Register now Deadline’s Newsletter. Follow us on Twitter for the latest news Facebook, Twitter?, and Instagram.