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FFI Holdings Plc (ISE:FFI)

FFI Holdings Plc (ISE:FFI)


Share Price
40.000 p
Change
0 (0.00 %)
Market Cap
£63.13 m
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FFI Holdings Plc RNS Release

Acquisition


RNS Number : 1583M
FFI Holdings PLC
26 April 2018
 

 

 

Press Release

                                                                                                                                                                       

 

FFI HOLDINGS PLC ACQUIRES UK'S LEADING FILM DISTRIBUTOR SIGNATURE ENTERTAINMENT LLC

 

London, 26 April 2018 - FFI Holdings PLC (AIM: FFI), the world leader in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming product, announces today that it has acquired Signature Entertainment UK ("Signature"), one of the largest distributors of films in the UK.

Founded in 2011, Signature has released over 600 titles and established itself as a leading distributor of diverse entertainment titles to a broad UK audience in cinemas and at home. The company has a wealth of industry experience and acts as an aggregator for Netflix, Amazon Prime and Sky as well as other streaming services. 

FFI has acquired Signature for a consideration comprising initial payment of $5 million in cash followed by 4 annual payments of 13.75% of Signature's prevailing EBIT at a 5 times multiple. Signature has generated a trailing twelve-month EBIT of approximately $2m.

 

Today's acquisition continues to expand FFI'S iconic platform which now incorporates completion contracts, entertainment risk insurance, a range of post-production services and world-wide distribution capabilities. FFI's current documentary collaboration with IMAX and Warner Brothers, "Pandas", has now been launched in theatres in the US and has been met with critical acclaim.

Commenting on today's acquisition, Steven Ransohoff, CEO of FFI Holdings PLC, said, "We are delighted to bring Signature Entertainment under the FFI banner. We look forward to working with Marc Goldberg and his team as they expand their distribution business which is especially well poised in the streaming arena. Signature will afford us excellent opportunities to expand the reach of the rest of FFI's platform into a new captive distribution channel."

 

Additional information on Signature can be found at www.signature-entertainment.co.uk

 

ENDS

 

About FFI Holdings PLC

 

FFI Holdings PLC (AIM: FFI) is the holding company of Film Finances Inc. ("FFI"), the world's leading provider of completion contracts to the entertainment industry, which offer assurance to the financiers of film, TV, mini-series and online media content that productions will be completed on time and on budget. These contracts serve to offload risks to production budgets and timelines for financiers, as well as for FFI through long-standing insurance relationships.

Since its founding in the 1950s, FFI has issued contracts on approximately 1,700 productions with gross budgets in excess of US$17 billion. These include many of the film industry's best known-titles, ranging from the first Bond movie (Dr. No, 1962) to The Hunger Games (2012) and Oscar winning films such as 12 Years a Slave (2013) and La-La Land (2016).

FFI is also a fast-growing global provider of post-production equipment and services for the entertainment industry.  FFI entered this business in February 2017 through the acquisition of Pivotal Post and consolidated its position in this market further through the purchase of EPS-Cineworks Digital Studios in November 2017. 

Over successive decades FFI has grown globally to become a trusted, iconic brand at the centre of the film industry. Headquartered in Los Angeles, USA, it has 11 offices globally, including in London, Stockholm, Toronto, New York, Cape Town, Cologne and Shanghai.

 

 

ENQUIRIES:                                                                             

Hawthorn Advisors (Public Relations)                        FFI Holdings PLC

Andrew Orchard                                                             David Sasso, Head of Investor Relations

Victoria Ainsworth                                                         +1 310 275 7323

+44 (0) 20 3745 4960

 

Liberum (Nominated Adviser and Corporate Broker) 

Steve Pearce

Joshua Hughes

+44 (0) 3100 2000

 

   

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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