Vitruvian paid around £44.7 million (US$59 million) for a significant stake in Tinopolis back in 2008, but has now sold the shareholding back to Tinopolis’ management.
“Vitruvian has been a fantastic partner and together we have grown Tinopolis into a true TV production and distribution powerhouse,” said Tinopolis CEO Arwel Rees. “Now the time is right for Tinopolis to take back full control to steer the group into its next growth phase.”
Since Vitruvian made its investment, Tinopolis has acquired companies in the UK and US, and now boasts subsidiaries such as A. Amith & Co., Firecracker Films and Magical Elves. It also houses sales arm Passion Distribution and sports production giant Sunset+Vine.
Vitruvian partner Ben Johnson said Tinopolis has seen “remarkable success” during the pair’s tenure together. “Turnover has increased over threefold since our investment and the US has become the company’s largest revenue market,” he added.
“Our success has been founded on the talent of our people, their creativity and their leadership,” said Ron Jones, executive chairman at Tinopolis. “With Vitruvian’s investment and support over the past nine years, we have made Tinopolis a leading player in our industry.”
Tinopolis launched as publicly listed company back in 1990, and bought Sunset+Vine and Mentorn Media parent The Television Corporation in 2006.
It went private upon Vitruvian’s investment in 2008, and went on to buy Pioneer Productions, Firecracker, Magical Elves, A. Smith and BASE Productions, invested in Fiction Factory and Daybreak Pictures, and just this month took a stake in Claire Zolkwer’s new producer, Thunderclap Media.
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18 June 2018 @ 11:08:55 UTC