Clifford Chance is advising long-standing private equity client Permira on its acquisition of All3Media Group which announced on 31st July. All3Media is an independent production company, behind many familiar programmes such as Richard and Judy and Hollyoaks.
The deal values All3Media at £320m and is expected to complete in mid-September, following receipt of regulatory clearance. The team is being led by Corporate partner Simon Cooke, assisted by Joff Crawford and Jonathan Simon, with senior finance associate John Dawson advising on the debt financing. Daniel Sandelson, head of the firm’s media practice, also provided advice on media contracts and broadcasting regulatory issues in relation to the transaction. The deal further cements the Clifford Chance private equity practice’s strong relationship with Permira and is a highly significant deal for the UK independent TV production sector.
Daniel Sandelson commented: “This continues a tremendous run of media transactions for us over the past year and confirms that regulatory changes in the UK television production sector have had a tremendously positive effect on the size and growth prospects of these businesses. The market focus in media is now firmly on cross-border M&A transactions.”
Weil, Gotshal & Manges (Mark Soundy and Marco Compagnoni) advised institutional sellers, Bridgepoint Capital, on the transaction, whilst Rob Day of SJ Berwin advised the management team, led by Steve Morrison and Jules Burns, who have reinvested in All3Media. The management team will work alongside Permira in the business going forwards.
