Investment house Connection Capital has completed a £6.4m investment in the MBO of Cardiff-based TV and film set design and build business, 4Wood TV and Film Ltd.
4Wood’s recent and on-going work includes His Dark Materials, Sex Education, Doctor Who, A Brave New World, A Discovery of Witches and Willow.
Established in 2008, 4Wood has an 85% share of the high-end TV and film set production market in south Wales.
As part of the transaction, an experienced Executive Chairman, Chris Higgs and Non-Executive Director, Travis Baxter, with backgrounds in the TV and film production and media sectors will join the board to help drive the growth of the business.
Miles Otway, Partner at Connection Capital comments, “4Wood has carved out a prominent position in the market, helping to establish Wales as a go-to location for TV and film production, raising the bar in its industry and developing excellent relationships with some of the biggest names in the business.”
“4Wood is a well-run business with a first-rate reputation, excellent team and an impressive catalogue of productions, operating in a swiftly expanding market. It is now well-placed to capitalise on rapid growth opportunities, both in Wales and more widely across the UK, making it a highly appealing private equity investment proposition.”
“The management team has a deep understanding of the industry and has demonstrated a track record of delivering sets of the highest quality, at a competitive price, operating to short timetables and delivering for their clients. As the scale and complexity of sets required increases as competition for top quality content intensifies, 4Wood’s professionalism is likely to be in high demand.”
Andrew Forse of 4Wood management commented: “This is a really exciting time for the management team and a fantastic opportunity to grow our business with our new backers. Connection Capital was clearly the right partner for us in our MBO from the first meeting and the unique reach of their network has allowed us to source excellent support for the company in our incoming NEDs. We are really looking forward to working together to turbocharge the growth of 4Wood and continue revolutionising the approach to our piece of the production market in the UK”.
Scott Fisher, founder of 4Wood, commented: “We are incredibly proud, and it has been hugely rewarding to have built 4wood from a small family business to the multifaceted creative business it is today. The investment from Connection Capital along with their shared passion and vision to progress 4wood, and the talented creatives we are so proud to work with, will undoubtably take 4wood to the next level. We are excited to see what the future holds.”
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