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 120-year-old facility in South West London has hosted a slew of classic titles across its history including The Italian Job and A Hard Day’s Night, as well as big-budget productions such as Bohemian Rhapsody and Top Gun: Maverick more recently.
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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.
Under the operation, APX Group will rebrand its global network of studios with the Twickenham Studios name.
The parties have also agreed on an accelerated expansion plan to acquire additional studios and land suited for studio construction in Europe and the US, all under the branding of 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.
The acquisition comes just two weeks after Twickenham Studios chair Sunny Vohra acquired a 6.95% in APX Corporation Inc, the parent company of the American-European media fund, the 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. As partners, APX Group intends to secure the next hundred years and actively expand the brand to enable continuing award-winning service to the creative industry. 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, a businessman involved in various commercial and property ventures in London, acquired Twickenham Film Studios in 2012 when it was on the verge of financial collapse.
He said the deal heralded a new era for the studio.
“Twickenham Studios was saved from liquidators and demolition by myself and a group of like-minded film-buffs approximately 10 years ago. Now we all look forward towards worldwide expansion and growth between our current management and the APX Group team. The Twickenham brand lasted gloriously for the past 100 years, and we are committed to the next 100 years.”
APX Group and Herd International have already moved their head office to Twickenham Film Studios. Twickenham Films Studios’ board will include two members nominated by APX Group. The current management and staff structure of the studio shall not be affected by the acquisition.
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.
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